The International Consortium of Investigative Journalists (ICIJ) recently disclosed that Abdelbasit Hamza, considered a Hamas financier, holds capital in a registered company in Cyprus.
Journalists conducting the investigation base their revelations on 3.6 million leaked records of Cypriot companies, evaluated by 68 news outlets.
Hamza himself asserts that the linkage to Hamas is erroneous.
On October 18, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) included Abdelbasit Hamza in a sanctions list, along with nine others.
The announcement notes that these individuals are “members of a terrorist group, agents, and financiers in Gaza and beyond, including Sudan, Turkey, Algeria, and Qatar.”
Furthermore, Phileleftheros uncovered a seemingly inconspicuous post on the information-gathering platform established by the U.S. Ministry of Foreign Affairs’ diplomatic security service.
Through this platform, authorities across the Atlantic seek information on Hamza and are willing to pay up to $10 million. Essentially, they have put a bounty on him.
This platform, named “Rewards for Justice,” serves as an information collection hub.
Regarding Hamza, it states, “The U.S. Department of the Treasury, on October 18, 2023, designated Abdelbasit Hamza Elhassan Mohamed Khair as a Specially Designated Global Terrorist (SDGT) under Executive Order 13224. The designation aims to block the assets of foreign individuals and entities involved in or posing a significant risk of committing acts of terrorism. In Hamza’s case, the designation is based on his role as a financier of Hamas with historical ties to companies associated with Al-Qaeda and Osama bin Laden. The U.S. government identified him in facilitating fund transfers to Hamas, including transactions with the senior economic official of Hamas, Mahir Jawad Yunis Salah.”
Moreover, on October 27, the U.S. imposed additional sanctions on Hamza by analyzing his network of companies.
The relevant U.S. financial ministry service noted, “Hamza is the CEO and owner of Zawaya Group for Development and Investment Co. LTD in Sudan and Zawaya Group for Development Investment Sociedad Limitada in Spain. Additionally, he holds a substantial interest in the company Larrycom for Investment Company in Sudan, which is indirectly owned by Hamza through Zawaya Group for Development and Investment Co. LTD. Sanctions on Zawaya Group for Development and Investment Co. LTD, Zawaya Group for Development Investment Sociedad Limitada, and Larrycom for Investment Company resulted from Executive Order 13224, as amended, due to their ownership, control, or guidance by Abdelbasit Hamza Elhassan Mohamed Khair, either directly or indirectly.”
However, as deduced from the above information, the Americans did not directly link the Sudanese entrepreneur to Cyprus.
Nevertheless, the investigative journalist network ICIJ refers to leaked documents labelled “Cyprus Confidential,” citing Hamza’s connection to our island.
A report by Uri Blau and David Kenner, participating in the ICIJ, suggests that Abdelbasit Hamza has “extensive business relationships in Europe and holds a share in a profitable company in Cyprus that extracts gold from Egypt.”
The authors note that the U.S. sanctions pertain to “his involvement in transferring nearly $20 million to the organization, including funds sent directly to a senior economic official of Hamas.”
However, there is no evidence indicating that the transfer of funds occurred through Cyprus.
The report posits that leaked records from Cypriot service providers unveil Hamza’s shareholding relationship with a Cypriot portfolio company through a Swiss business entity.
It adds that the financial details of this company “barely reached $35 million by 2018.”
Statements from former Mossad senior official Udi Levy are featured, characterizing Hamza as a “central figure in Hamas’s investment portfolio.”
In a written statement on Israel’s website, Hamza denied any affiliation with Hamas or Al-Qaeda, stating that he never transferred money to a Hamas official and hadn’t heard the name until the imposition of sanctions.
He also asserted no connection with the company used by OFAC for alleged money laundering assistance to Hamas, expressing surprise at the U.S. Treasury’s actions and promptly notifying U.S. authorities that their information was incorrect.
The report also highlights Hamza’s business ties in Europe for almost two decades and references his association with Cyprus. He was the owner of Cypriot Matz Holdings, founded in February 2005, engaged in lucrative agreements from Egypt for operating two gold mines in the country.
It is added, “Close to the period of Sudanese President Omar al-Bashir’s departure from power in 2019, Hamza sold a large portion of his shares in Matz Holdings. At present, he holds a 10% stake in the company. Additionally, he has a business partner in Switzerland in Matz Holdings and also owns a Spanish real estate company that faced U.S. sanctions about a week after the sanctions imposed on Hamza himself.”
The journalists further detail Hamza’s personal history, noting that Sudanese authorities arrested him in April 2019, shortly after the initial days of al-Bashir’s fall.
Subsequently, Hamza was convicted of corruption charges in April 2021, receiving a 10-year prison sentence.
Meanwhile, he resigned from Matz Holdings’ board the following month. After the military coup in Sudan in October 2021, Reuters reported that Hamza was among al-Bashir’s allies released from prison.
