Youssef Nada: Finance Minister of Muslim Brotherhood

With his close contacts with the West, businessman and member of the banned Muslim Brotherhood Youssef Nada has sought to internationally market that the group aa pro- against the western countries. Nada’s influence was reflected in the European  Union (EU) deviation from  designating the Brotherhood as a terrorist group.

Nada, 77,  spent most of his life outside Egypt; he was not well-known for Egyptians despite his significant influence in the group. since he was serving  as  the Brotherhood commissioner for foreign affairs for 25 years.

Recently, Nada appeared on the political arena. In a personal letter to former Egypt Military Chief of the staff Sami Anan, Nada said that the group was ready to vote for Anan in 2018 presidential election upon certain conditions, including “purging the police and judiciary,” Turkish Anadolu news agency reported in January. However, Anan was disqualified to compete in the election over accusations of “forging documents” to run for president.

Nada was born in 1951 in Alexandria . When he was 29 years old, he immigrated to Libya, then to Austria where he started his cement trades . His business in cement has expanded across the two states. So he was dubbed as the “King of Cement” in the Mediterranean area.

‏ Following the Libyan al Fateh Revolution in 1969, Nada travel to Greece then to Italy. He holds the Italian citizenship and lives in Campione d’talia, near Swiss border . During the era of late president of Tunisia Habib Bourguiba, Nada was granted the Tunisian citizenship.

Pro-immigration activities

The cement business tycoon joined the Muslim brotherhood in 1947. When he was a student in the Faculty of Agriculture at Alexandria University early 1950s, he joined the movement of fedayeen (armed patriots) against the British forces in the Canal. Later, he was arrested by the Egyptian authorities after the assassination attempt against late President Gamal Abdel Nasser in 1954, which dubbed in media as “Manshia Accident” in Alexandria.  Two years later, Nasa was released.

Post-immigration activities

In Italy, Nada – along with his friend Ghalib Himmat- founded Al-Takwa bank in 1988. Since then, he became the richest member in the Muslim Brotherhood.

Chosen as the group’s commissioner for foreign affairs, Nada was the link between the Brotherhood and leaders of the Iranian Revolution.  He was also a mediator between the Algerian government and the Islamic Salvation Front.

His membership at Italy-based Pio Manzù  Research Centre, which affiliated with the united nations, strengthened his foreign influence. Pio Manzu, which was co-chaired by former Russian President Mikhail Gorbachev and former U.S. President George Bush, honoured Nada in 1997. However, his membership was suspended over accusing him of terrorism following the September 11 attacks in 2001.

“Accusations of terrorism”

Former U.S. President George W. Bush’s administration had accused Nada of supporting and financing terrorist groups in the wake of September 11 attacks. The administration imposed economic sanctions on him and froze his assets. His al-Taqwa bank, which located in Bahamas (offshore), stopped operation as well.

Over such accusations, the Swiss authorities froze Nada’s assets and investigated with him and his partner Himmat. However, their names were removed from the United Nations Security Council blacklist in 2009 after Swiss authorities failed to provide evidence of accusations against the both figures.

In 2008, Nada was handed down a sentence of 10 years in prison in absentia by the Egyptian authorities, following the military-style parade staged by Muslim Brotherhood students at al-Azhar University. However, Former Islamist president Mohamed Morsi granted him a presidential pardon in 2012.

Soft power

Nada has a significant role in financing and supporting the Muslim Brotherhood branches worldwide, particularly in the Middle East. He is considered the international organization’s “soft power” offered to the West.

Unlike most of the Muslim Brotherhood members, Nada does  not grow his beard to sent an impression that he is anti-violence figure. His close relations with decision makers had built up pressure on the western countries for granting the brotherhood freedom to carry out its activities.

Nada’s pro-Muslim brotherhood campaigning via his investments served the group members to find footprints in some western countries.