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HSBC snaps ties with Muslim charity

HSBC has again snapped ties with another Islamic charity in Britain over fears of terror funding. The bank has decided to end its relations with Islamic Relief over concerns that cash for aid could be used by terrorists groups abroad. The bank taken the decision about a year ago but had not been made public so far. The organization receives millions of pounds from the UK’s Department for International Development (DfID) and perates in more than 40 countries. Earlier too, HSBC has stopped its banking services to other Muslim groups. The charity was set up in 1984 and from 2012-14 received about 4 million pounds from DfID’s aid budget including funds to educate children affected by the Syrian war. DfID said funding was subject to rigorous checks. However, British banks, including Barclays and Natwest, continue to offer their services to the organization.

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