A U.S. jury has decided Monday that the Arab Bank Plc. is responsible for the providing material support to Hamas that in turn used it to conduct attacks in both Israeli and Palestinian territories.

The verdict was the first of its kind that linked financing terror activities.

After a six-week trial, the jurors deliberated for two days before coming up with a decision. A trial for damages will follow suit.

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The case began way back in 2004 when more than 300 Americans sued the Arab Bank contending they or their relatives fell victims to Hamas attacks.

The Arab Bank is accused of having knowledge of Hamas membership bank accounts. Allegations have also surfaced that Hamas, with the money they have received from the bank, has helped finance the families of suicide bombers including people imprisoned and injured during the Palestinian rebellion that started back in the year 2000.

The plaintiffs accused the bank of violating the Anti-Terrorism Act.

The Anti-Terrorism Act supports U.S. victims assigned to work in foreign countries and were greatly affected by terrorist organizations.

Maida Averback, 70, one of the plaintiffs, said that the verdict took a long time to materialized and felt sad her son is no longer alive. Averback's son was paralyzed back in 2003 after getting caught in an alleged Hamas suicide bombing explosion. Her son died in 2010 because of complications.

The Arab Bank has responded to the verdict and said it was not at all surprised with the decision. The bank sad the court rulings were incorrect and prohibited them to defend the bank's side.

Shand Stephens, the Arab Bank's legal counsel, said in a statement that he remains hopeful that the second U.S. Circuit Court of Appeals will reverse the decision.

Mark Werbrner, the plaintiffs' lawyers, however, believe otherwise. He said in a statement that once a bank gives their services to terrorists, they will be held accountable for the damages.

Similar lawsuits were filed against the Bank of China Ltd and Credit Lyonnais SA. The Bank of Chine is accused of financing the Palestine Islamic Jihad, while Credit Lyonnais SA is allegedly helping the Hamas.

The two banks denied the allegations, but will still undergo trial.

TagsArab Bank, verdict reacehd, jurors, Financing Hamas, Palestenian rebels