Complex sentence: In 2001, authorities in the Bahamas canceled Al Taqwa's bank license there, due to new laws designed to crack down on money laundering that would require Al Taqwa to maintain a physical presence in that country, which the bank declined.
Split into simpler sentences: In 2001, authorities in the Bahamas canceled Al Taqwa's bank license there due to new laws designed to crack down on money laundering. These laws would require Al Taqwa to maintain a physical presence in that country, which the bank declined.