Dated records trace an indirect commercial connection through TSYS and CTL, while leaving Bennett’s involvement and the technology supplied to the bank unproven.
Editorial photo illustration using supplied photographs and AI assisted compositing. The montage does not depict a shared event.
Qatar National Bank’s work with a company later acquired by Cyota’s distribution partner was documented while Naftali Bennett still led Cyota. An October 3, 2005 announcement by Card Tech Limited, or CTL, reported an agreement to upgrade QNB’s card system to PRIME 3.0. The relationship therefore preceded the better known completion announcement in May 2007.
CTL announcement · October 3, 2005
The connection runs through TSYS, the American payments processor. On October 25, 2001, Cyota announced a distribution and hosting agreement with TSYS for SecureSuite, its technology for securing online card transactions by authenticating cardholders. A December 2002 report documented the arrangement in practice at Navy Federal Credit Union.
Cyota–TSYS agreement | Navy Federal deployment
TSYS acquired CTL on July 11, 2006, bringing QNB’s card supplier into the same corporate group as Cyota’s commercial partner. CTL’s earlier QNB contracts were not originally TSYS contracts. The records establish an indirect business connection; they do not identify Cyota software at QNB.
TSYS acquisition filing · July 11, 2006
Bennett stayed after the sale
Bennett signed Cyota’s merger agreement as chief executive on December 2, 2005. RSA closed the acquisition on December 30. Its February 2006 presentation identified him as senior vice president and founder in the Consumer Solutions Division. An April 17 investor call also described his work with Chris Young on integration.
Merger agreement | Closing filing | April 2006 call
01 RSA’s February 2006 presentation identifies Bennett’s post acquisition role. Original slide detail. Source 6
In a later account published in Ari Shavit’s book, Bennett recalled: “On July 11, 2006, they hold a farewell party for me at my high-tech company.” This is an English translation from the publisher’s Hebrew sample. The date coincides with TSYS’s CTL acquisition, but a farewell party does not establish a formal termination date. An October 9, 2006 report already described Bennett as having left.
Bennett’s account | October 2006 report
Inside the bank
Nada Abu Jalalah’s professional profile describes card issuance work at QNB from October 2005 to July 2007, including data entry and replacement in CTL-Prime and Base24 and transaction enquiries through CTL-Online. Her stated employment period overlaps Bennett’s tenure. The self-reported profile does not date individual tasks or identify Cyota technology.
Abu Jalalah’s QNB employment profile
An August 2006 valuation report also describes the QNB–CTL upgrade agreement. On May 15, 2007, TSYS Card Tech announced the completed migration from PRIME 1 to PRIME 3, covering 81,000 card accounts, 32,000 customers and 2,300 merchants. That was an existing project’s completion, not its starting date.
August 2006 report · page 7 | May 2007 completion
What the documents establish
QNB was later named in lawsuits alleging terrorism financing. In a March 17, 2023 decision in Przewozman, a US court granted dismissal motions by QNB, Masraf al Rayan and Qatar Charity without prejudice and gave plaintiffs thirty days to amend. That order does not establish the allegations as fact.
US court decision · March 17, 2023 · page 40
The commercial records place QNB’s CTL relationship before Bennett’s departure and confirm his continued role after Cyota’s sale. They do not show that he negotiated QNB’s business, earned income from it, or that Cyota technology secured transfers challenged in the lawsuits. The exact end of his RSA employment remains unresolved. Those gaps limit what can be concluded from the documented chain of companies.
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