German intelligence reveals the Muslim Brotherhood funding sources
June 26, 2022, 2:12 pm

German intelligence reveals the Muslim Brotherhood funding sources

The German government continues to tighten its measures against the activities of the Muslim Brotherhood, after pressure from the opposition parties in Parliament. The German government sent a memorandum to Parliament No. (20/2224), revealing detailed information about the Brotherhood's financial arm and its hidden goals.

In October 2021, the research report ‘Network of Networks: The Muslim Brotherhood in Europe was published. In the report, two esteemed scholars who focus on the Muslim Brotherhood present some very concerning findings in relation to the Commission’s funding of Muslim Brotherhood-affiliated organizations. The report notes that the Muslim Brotherhood’s ultimate goal is to build an Islamic state based on Sharia law. It is not a supporter of liberal democracy or western values. The Muslim Brotherhood is not a single, centralized organization, but a web of different branches formally independent from one another linked by ideological patterns, umbrella organizations and individual ties. Their ideology is described as radical and dangerous, undermining national security and social cohesion.

The DMG

The DMG had come under public criticism for its association with the Muslim Brotherhood. The press release from the ZMD announcing its schism with the DMG, sent out on 31 January 2022, brought a temporary end to this public controversy. In the period since the DMG’s membership was suspended in 2019, the ZMD has become more publicly visible and entrenched itself further in the media, civil society, and politics, according to the Eradicalization website report.

Ibrahim El-Zayat “Brotherhood Economy Minister”

Ibrahim El-Zayat is the son of Farouk El-Zayat, an Egyptian engineer who left Egypt in the 1960s and settled in Germany where he married a German convert to Islam and who lived in Marburg, a University town north of Frankfurt. Ibrahim grew up in Marburg where he attended the Martin-Luther-Schule (Gymnasium) in 1987. Ibrahim El-Zayat was a founder and director of the Federation of in Europe (FIOE), heading its public relations department.

The Europe Trust

Europe Trust is a United Kingdom based company and charity which was first registered as a charity in 1996. The 2005 financial report says that the principal activity of the company “was that of to establish a portfolio of assets (awqaf) businesses and investments to generate resources to fund social and economic projects for communities in Europe. Europe Trust has purchased a property in Berlin’s Wedding district for four million Euros. Several associations and groups have moved in there that are being monitored by the German State Office for the Protection of the Constitution. The directors and trustees of Europe Trust are European Muslims of Middle Eastern descent. It employs three staff members and has multiple volunteers. Former trustee and co-founder Dr. Ahmed Kadhem al-Rawi serves currently as the chief executive.

The Europe Trust, a UK-based organization with close ties to the radical Muslim Brotherhood organization, has acquired a €4 million property in the Berlin district of Wedding, an area that is already home to several associations that are being monitored by the Federal Office for the Protection of the Constitution (BfV).The supporters of The Europe Trust, which is regarded as the primary financial vehicle of the Muslim Brotherhood in Europe, are regarded as adherents to so-called “legalistic Islamism” — a strain of political Islam that’s outwardly law-abiding, but aims to establish Islamic states via infiltration of a society’s institutions instead of waging violent jihad to realize its goals, Die Welt reports.

According to a report in the Stuttgarter Nachrichten, the Muslim Brotherhood is becoming more influential in Europe, and is a particular concern in Germany. The German security service, the BfV, suspects that there are more than a thousand supporters of the Muslim Brotherhood in Germany alone. The Baden-Württemberg office of the BfV has reported that the Muslim Brotherhood are concentrating on infiltrating institutions such as universities.

Conclusion

It is expected that the German government will continue to take strict measures to monitor and control the funding sources of the Muslim Brotherhood in Germany, but the internal intelligence still needs more powers in order to reach the results. Despite parliamentary pressure on the German government to reveal its information about political Islam, specifically the Muslim Brotherhood, German intelligence is still reluctant to announce the details of its work in order to preserve the progress of the investigations. It is expected that the German government will announce in the future more details about the activities of the Muslim Brotherhood in Germany and from whom it is only a matter of time.

References
[1]Germany's Central Council of Muslims: A Brief Inventory - European Eye on Radicalization

bit.ly/3OGGIMN

[2]Europe and the Muslim Brotherhood – Financial Support and Question of Violence

bit.ly/3yfiO4H

[3]Ibrahim El-Zayat (born 1968), German functionary | World Biographical Encyclopedia

bit.ly/3A5yvxU

[4]Muslim Brotherhood-linked organization buys €4 million property in Berlin

bit.ly/3HRGbFA

By Jassim Mohamad - Bonn

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BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, held its Annual General Meeting (AGM) at the company’s headquarters in the Seef District.
During the meeting, shareholders approved all items listed on the agenda, including the ratification of the minutes of the previous AGM held on 26 March 2024. The session reviewed and approved the Board’s Annual Report on the company’s activities and financial performance for the fiscal year ended 31 December 2024, and the shareholders expressed their satisfaction with the company’s operational and financial results during the reporting period.
The meeting also reviewed the Independent External Auditor’s Report on the company’s consolidated financial statements for the year ended 31 December 2024. Subsequently, the shareholders approved the audited financial statements for the fiscal year. Based on the Board’s recommendation, the shareholders approved the distribution of a cash dividend equivalent to 10% of the paid-up share capital.
Furthermore, the shareholders endorsed the allocation of a total amount of BD 172,500 as remuneration to the members of the Board for the year ended 31 December 2024, subject to prior clearance by related authorities.
The extension of the current composition of the Board was approved, which includes ten members and one CBB observer, for a further six-month term, expiring in September 2025, pending no objection from the CBB.
The meeting reviewed and approved the Corporate Governance Report for 2024, which affirmed the company’s full compliance with the corporate governance directives issued by the CBB and other applicable regulatory frameworks. The AGM absolved the Board Members of liability for any of their actions during the year ending on 31st December 2024, in accordance with the Commercial Companies Law.
In alignment with regulatory requirements, the session approved the reappointment of Ernst & Young (EY) as the company’s External Auditors for the fiscal year 2025, covering both the parent company and its subsidiaries—Sinnad and Bahrain FinTech Bay. The Board was authorised to determine the external auditors’ professional fees, subject to approval from the CBB, and the meeting concluded with a discussion of any additional issues as per Article (207) of the Commercial Companies Law.
Speaking on the company’s performance, Mr. Mohamed Al Bastaki, Chairman BENEFIT , stated: “In terms of the financial results for 2024, I am pleased to say that the year gone by has also been proved to be a success in delivering tangible results. Growth rate for 2024 was 19 per cent. Revenue for the year was BD 17 M (US$ 45.3 Million) and net profit was 2 Million ($ 5.3 Million).

Mr. Al Bastaki also announced that the Board had formally adopted a new three-year strategic roadmap to commence in 2025. The strategy encompasses a phased international expansion, optimisation of internal operations, enhanced revenue diversification, long-term sustainability initiatives, and the advancement of innovation and digital transformation initiatives across all service lines.
“I extend my sincere appreciation to the CBB for its continued support of BENEFIT and its pivotal role in fostering a stable and progressive regulatory environment for the Kingdom’s banking and financial sector—an environment that has significantly reinforced Bahrain’s standing as a leading financial hub in the region,” said Mr. Al Bastaki. “I would also like to thank our partner banks and valued customers for their trust, and our shareholders for their ongoing encouragement. The achievements of 2024 set a strong precedent, and I am confident they will serve as a foundation for yet another successful and impactful year ahead.”
Chief Executive of BENEFIT; Mr. Abdulwahed AlJanahi commented, “The year 2024 represented another pivotal chapter in BENEFIT ’s evolution. We achieved substantial progress in advancing our digital strategy across multiple sectors, while reinforcing our long-term commitment to the development of Bahrain’s financial services and payments landscape. Throughout the year, we remained firmly aligned with our objective of delivering measurable value to our shareholders, strategic partners, and customers. At the same time, we continued to play an active role in enabling Bahrain’s digital economy by introducing innovative solutions and service enhancements that directly address market needs and future opportunities.”
Mr. AlJanahi affirmed that BENEFIT has successfully developed a robust and well-integrated payment network that connects individuals and businesses across Bahrain, accelerating the adoption of emerging technologies in the banking and financial services sector and reinforcing Bahrain’s position as a growing fintech hub, and added, “Our achievements of the past year reflect a long-term vision to establish a resilient electronic payment infrastructure that supports the Kingdom’s digital economy. Key developments in 2024 included the implementation of central authentication for open banking via BENEFIT Pay”
Mr. AlJanahi concluded by thanking the Board for its strategic direction, the company’s staff for their continued dedication, and the Central Bank of Bahrain, member banks, and shareholders for their valuable partnership and confidence in the company’s long-term vision.