US Sanctions Iraq-Based AFAQ Dubai Over Links To Islamic State Terror Group - Treasury

Rukhshan Mir (@rukhshanmir) Published October 17, 2018 | 08:25 PM

The United States has imposed sanctions on the Iraq-based AFAQ Dubai money services firm for allegedly funneling money to the Islamic State terrorist group (banned in Russia), the Department of the Treasury's Office of Foreign Assets Control (OFAC) announced in a press release on Wednesday.

WASHINGTON (UrduPoint News / Sputnik - 17th October, 2018) The United States has imposed sanctions on the Iraq-based AFAQ Dubai money services firm for allegedly funneling money to the Islamic State terrorist group (banned in Russia), the Department of the Treasury's Office of Foreign Assets Control (OFAC) announced in a press release on Wednesday.

"OFAC named Afaq Dubai as a Specially Designated Global Terrorist pursuant to Executive Order 13224, for assisting in, sponsoring, or providing financial, material, or technological support for, or financial or other services to or in support of, ISIS [Islamic State]," the release said. "Contrary to what the name may imply, this MSB [money services business] is located in Iraq and does not have any branches in the United Arab Emirates."