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US court dismisses 90% of claims against Arab Bank

Jordan-headquartered Arab Bank has announced that a New York federal court has dismissed over 90% of the claims in a long-running lawsuit accusing the lender of providing banking services to charities and individuals allegedly affiliated with Palestinian militants, The Daily Star has reported. Judge Brian Cogan of the Court of the Eastern District of New York ordered the dismissal of the claims filed by over 6,000 of the plaintiffs under the US' Alien Tort Statute, the bank said. A trial is scheduled to take place in January 2014, marking the first time a bank has been tried in the US for terrorism financing under the act.