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United States Unveils 6 Companies and People Financing ISIS

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Financing ISIS
The companies were involved in financing ISIS.

The US Treasury Department named six companies and individuals financing ISIS. As they are involved in providing crucial financial and logistical support to the Islamic State terror group.

The ministry said in a statement posted on its website, that:

  • Two of these companies are working in the field of mediation, based in Turkey.

US Treasury Secretary Stephen Mnuchin said:

Following the killing of ISIS leader Abu Bakr Al-Baghdadi, the administration of President Donald Trump has shown the determination to destroy the rest of the organization’s cell network.

As well as, the ministry is contributing in many ways to crippling ISIL’s ability to recruit and equip fighters around the world by eliminating its funding sources.

Read Also: Brief of ISIS state from beginning till vanishing

The six entities were targeted according to an executive order targeting anyone

  • who provided financial, material or technical support or services to terrorists.

United States Unveils 6 Companies and People Financing ISIS

The companies covered by the sanctions are:

  1. Sahloul Exchange Company
  2. Al-Sultan Money Transfer Company
  3. Tawasul
  4. Ismail Bailton and his company
  5. Ahmad Bailton
  6. ECL

Firstly, Sahloul Exchange Company:

  • ISIS has assisted financially, provided financial support, provided technical support and extended its services.
  • In late 2017, the company received payments from people associated with ISIS who were seeking to leave Syria to Turkey.
  • In late 2016, the company moved foreign donations to the ISIS stronghold in Mosul, Iraq.

Secondly, Al-Sultan Money Transfer Company:

  • This company assisted ISIS by providing financial, technical and service support to it.
  • Also, the US Treasury Department stressed that the company was involved in financing ISIS.

Thirdly, Tawasul:

  • In mid-2018, one of the ISIS financiers transferred funds through the company’s office in Harem, Idlib province.
  • In 2018, ISIS used this company and other companies in Syria and in Western European countries to transfer funds to the terrorists of the terrorist organization.

Fourthly, Ismail Bailton and his company:

  • This person provided financial assistance to ISIS and provided him with technological support and provided him with goods and services.
  • Ismail, through a Turkish-based company owned by his brother Ahmed, supported ISIS militants.
  • As of 2018, Ismail and his brothers provided material support to the organization.
  • Eventually, the company provided equipment support to it between 2015 and 2017.

Fifthly, Ahmad Bailton:

  • In addition to being involved in providing material and technical support to ISIS.
  • Ahmed was acting as a procurement agent for ISIS in Turkey as of early 2017.

Finally, ECL:

  • This company-owned, controlled or managed by Ismael.
  • Its property and assets banned in the United States.

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