WASHINGTON (Sputnik) — According to a February 2015 report by the US Financial Action Task Force, the Islamic State has gained access to financing through bank branches in or near territory the terrorist group controls in Iraq and Syria.
“[The terrorist group’s] financial advantage is contributing to the flow of foreign fighters to ISIS’s [Islamic State] ranks and may prolong the group’s existence. More must be done to address this element of the comprehensive strategy to combat ISIS [Islamic State],” Casey wrote in a letter to the US Treasury Department and State Department.
On Wednesday, Casey announced the letter had been sent to the Obama administration officials.
He requested a progress report from the administration on efforts by the Iraqi government “to cut off bank branches in ISIS [Islamic State]-controlled territory.”
In September 2014, President Obama announced the campaign to degrade and defeat the Islamic State. The strategy included efforts to cut off external money supplies to the terrorist group, and levy sanctions on its officials.
As recently as 2014, Iraqi Prime Minister Nouri al-Maliki accused Saudi Arabia and Qatar of providing seed money to the Islamic State. International media reports have alleged that the Islamic State has received funding from wealthy donors in the Persian Gulf, as well as financial support from the Syrian government.
According to the US Treasury, US allies in the fight against the Islamic State are currently working to halt financial support to the terrorist group.