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Using formal financial channels covertly, Pak ISI backed Mujahideen cause in Afghanistan

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(ANI): Pakistan’s intelligence agency covertly funnelled money to back Mujahideen, Afghanistan’s rebellious groups who were fighting the Soviet Union in the 1980s, through formal financial institutions, media reports revealed.

Pakistan’s Inter-Services Intelligence (ISI) allegedly made this possible under the garb of a special business model where they routed funds through formal channels like charities or legitimate business enterprises, reported South Asia Monitor. One among them was the Bank of Credit and Commerce International, a financial institution which was registered in Luxembourg but operating out of Karachi and London. The organization was facilitating the narcotic trafficking trade.

The operations of the organization included shipping all the illicit goods through their own vessels, insuring the goods through their own banks and associated companies, providing security during the transportation of the goods and bribing the officials at all border points en route, reported the media portal.

Bank of Credit and Commerce International was founded by Agha Hasan Abedi, a Pakistani businessman. One of the primary aims of the organization was ostensibly to fund armed groups abroad. According to various reports, the bank was also responsible for transferring funds and arms to the Iran-Contra arms deal.

This financial institution’s nexus was anchored on a tacit understanding for support of the Mujahideen cause in Afghanistan. However, the nexus must not to be mistaken for only having limited to a particular region. It extended to a global network for waging jihad.

There was an influence of the bank to give commands to various important operations like that of Karachi port and its customs operations. Not just this, Bank of Credit and Commerce International also supplied arms, funds and required essentials to the Mujahideen.



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Cabinet nod for new Commercial High Court

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The Cabinet of Ministers approved the proposal presented by the Minister of Justice, Prisons Affairs and Constitutional Reforms to establish a new Commercial High Court to ensure expeditious disposal of the existing backlog of commercial matters.

The new Commercial High Court will be established at No.80, Justice Avenue, Colombo 12

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219.72 Hectares of land in Siyambalanduwa to be acquired and leased to Sustainable Energy Authority

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The Cabinet of Ministers approved the proposal presented by the Minister of Power and Energy on the recommendation of the Ministry of Tourism and Lands, to acquire 219.72 hectares of land in Siyambalanduwa Divisional Secretariat Division of Monaragala District and lease the relevant extent of land on a long-term lease basis for a period of 25 years to the Sustainable Energy Authority, with relevant provisions to enable sub-leasing to a selected renewable energy developer.

 

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Chemicals to be regulated to prevent misuse

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The Cabinet of Ministers approved the proposal presented by the  President in his capacity as the Minister of Defense to make arrangements to regulate  chemicals that could be misused, and to transfer the said regulatory role to the National Authority for the Implementation of the Chemical Weapons Convention.

Among the large number of different chemicals that are used in the country for peaceful purposes such as industrial, agricultural, medical and research activities it has been observed that among those chemicals, chemicals like Nitric acid, Chlorine, Hydrogen Peroxide, Potassium Cyanide, sodium cyanide, Nitro Methane and Sodium Azide are of dual use nature which can be used in many different industries such as milk, beverages, oil-related industries, water purification etc. can be used for harmful activities that threaten national security.

 

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