Dhaka/New Delhi:
An investigative article released by Blitz, a top weekly in Bangladesh, suggests that Nobel laureate Muhammad Yunus’s worldwide “Grameen” network is connected to individuals identified by Western intelligence as financiers of Osama bin Laden and the Al Qaeda network.
The piece, penned by Blitz editor Salah Uddin Shoaib Choudhury, urges an international inquiry into Yunus’s transnational financial alliances.
According to the report, “For years, Nobel laureate Muhammad Yunus has been celebrated across the world as a pioneer of micro‑finance and a champion of the poor. Yet behind this carefully polished global image lies a far darker reality — a web of connections linking Yunus’s sprawling ‘Grameen’ empire to individuals named by Western intelligence agencies as financiers of Osama bin Laden and Al Qaeda.”
The document further notes, “In March 2003, The Wall Street Journal published a list of Al Qaeda donors based on CIA information, where the name of Mohammed Abdul Latif Jameel — a Saudi businessman and board member of Grameen‑Jameel Microfinance — appeared prominently. The report noted that Jameel was one of the key funders of Osama bin Laden, the notorious mastermind behind the September 11 terrorist attacks.”
Online company filings describe “Grameen‑Jameel” as a social business that was founded in 2007 as a joint venture between the Grameen Foundation and Grow Well Limited, a unit of the Abdul Latif Jameel Group. The records state the firm’s purpose is to “alleviate poverty in the Arab world” by partnering with micro‑finance institutions and supplying technical as well as financial assistance.
The report adds, “On its LinkedIn page, Grameen‑Jameel states that it was established in 2003 and incorporated in 2007 as a joint venture between Grameen Foundation and ALJ Foundation, a subsidiary of the Abdul Latif Jameel Group.”
“The company claims to be the first social business in the Middle East, North Africa (MENA), and Turkey dedicated to expanding micro‑finance. As of December 2013, it facilitated more than USD 65 million in financing, reaching over 2.2 million clients through partner institutions across 10 countries in the MENA region and Turkey.”
The report says the company is incorporated in Cyprus and its headquarters are located in Dubai’s International Humanitarian City. Its website is currently offline, and its Facebook page has been suspiciously deactivated.
“Further strengthening the Grameen‑Jameel connection is Zaher Al Munajjed, the Chairman of Grameen‑Jameel Microfinance Ltd. Al Munajjed also serves as a senior advisor to Mohammed Abdul Latif Jameel, President of the ALJ Group in Saudi Arabia. With more than 25 years of international business experience, he has played a key role in developing vocational training and micro‑finance programs. A Harvard Business School alumnus and holder of a Master’s degree in French International Law, Al Munajjed is widely regarded as a major architect of micro‑finance expansion in the MENA and Turkish regions,” notes the Blitz report.
The Jameel family’s controversial past
According to the Blitz report, Yousef Jameel — another prominent member of the Jameel dynasty — was once notorious in London’s casino circles during the 1980s. The Daily Mail described him as a playboy who later became involved in an international child‑abduction case.
Adding to the controversies, his name appears in Jeffrey Epstein’s infamous “Black Book,” which exposed networks tied to child exploitation and human trafficking. On July 21, 2004, Jameel and others filed an appeal with the British Court of Appeal following a Sunday Times report titled “Car tycoon ‘linked’ to Bin Laden” dated June 8, 2003. The article claimed that Jameel had been sued by families of the 9/11 victims.
On February 3, 2005, Dow Jones & Co., the parent of The Wall Street Journal, also filed its own appeal against Yousef Abdul Latif Jameel.
In a landmark ruling on October 11, 2006, Britain’s highest court sided with The Wall Street Journal, upholding the importance of investigative journalism. The decision highlighted that the article was part of a legitimate public‑interest inquiry into terror financing.
The court record stated:
“Above the article and headline were photographs of the claimant, Mr Jameel, his company Hartwell PLC, and the Twin Towers burning on 11 September 2001, with the following words: ‘Accused: Yousef Jameel’s family firm bought the British car dealer Hartwell in 1990. Now he is alleged to have helped fund training for the terrorists who carried out the September 11 attacks.’”
Despite these allegations, Jameel has long been seen as a successful entrepreneur and “generous philanthropist.” He has provided substantial funding to MIT programs focused on reducing poverty and improving water and food security. For his philanthropic efforts and contributions to arts and culture in the United Kingdom, Mohammed Abdul Latif Jameel was awarded an honorary knighthood by Queen Elizabeth II. The honour was announced by the British Embassy in Riyadh, according to the Blitz report.
“However, The Guardian later reported that a group of wealthy Saudi businessmen — including individuals close to Jameel — were suing for libel in the High Court over accusations that they might have financed Osama bin Laden’s Al Qaeda network. They chose London because of its reputation as a claimant‑friendly venue for defamation cases,” notes the Blitz report.
Suspicious connections of Grameen
The Blitz report also mentions allegations linking Grameen entities to the Muslim Brotherhood, raising additional concerns about Yunus’s international collaborations.
“Even more disturbing are reports indicating sinister links between Grameen Bank and illegal human organ traders. Individuals unable to repay their loans were allegedly coerced into selling their organs to settle debts,” says the Blitz report.
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