Madrid, Spain ? Spanish police have arrested an Algerian man suspected of being the financial chief in Spain of Osama bin Laden’s al-Qaida terrorist network, the Interior Ministry said Sunday.

Interior Minister Mariano Rajoy said Ahmed Brahim, 57, may have been involved in the financing of the August 1998 U.S. embassy bombings in Kenya and Tanzania, because he had a “close relationship” with one of the alleged founding members of al-Qaida, Mamdouh Mahmud Salim.

Salim, who is also known among al-Qaida members as “Abu Hajer,” is currently in a U.S prison awaiting trial on conspiracy charges in the bombings, which killed 231 people, including 12 Americans. Salim is believed to be the highest-ranking al-Qaida member held in the United States.

Rajoy described Brahim as “an important member of al-Qaida in Spain.” He said Brahim was hunted down with the help of U.S., German and French police after a seven-month investigation.

Brahim was detained on a warrant by the National Court, which is handling the arrests of other Al-Qaida members in Spain.

The Interior Ministry, which oversees national security, said Brahim was arrested in a raid Saturday night on his home in Sant Joan Despi, near the northeastern city of Barcelona. Police seized his bank accounts, related documents and computer material in his home.

Brahim was taken into custody in Madrid and will be questioned by a judge in the next few days. Four French citizens who were with him are now being investigated but have not been arrested.

Brahim has several businesses that buy and sell boats as well as public relations firms, police said, adding that he recently sent high-tech computer material to Arab countries, including Saudi Arabia, and money to some European countries.

Spanish authorities have made key arrests since launching a nationwide crackdown on suspected terror cells following the Sept. 11 attacks on the World Trade Center and the Pentagon.

On Nov. 13, eight suspected terrorists were arrested on charges of being al-Qaida members and taking part in preparations for the Sept. 11 attacks. Bin Laden is the prime suspect in the attacks.