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Daesh Will Continue To Strengthen Financial Muscle: UN Report

The United Nations has confirmed that Daesh forces are cash-rich to the tune of $300 million. Despite having lost its control over the ‘caliphate’ in Iraq and Syria, Daesh forces are maintaining a ‘false calm’, as the UN reports claim to be a lull before another attack.

It is surprising that while ‘Daesh’s group ability has been put an end to due to its recent defeat, it still had great ability to be able to direct funds to support terrorist acts within Iraq and Syria as well as abroad.’ This has been asserted by António Guterres, Secretary-General of the United Nations, in a recent report released by the UN.

There is an undercurrent of the financial muscle being developed with the Daesh group. They continue to encourage increased financial self-sufficiency throughout its network of supporters and affiliates elsewhere in the Mideast, Africa, and Asia.

A last week’s account report by the UN also makes it clear that Daesh leaders are aiming to consolidate and create conditions for an “eventual resurgence in its Iraqi and Syrian heartlands.” It said the current lull in attacks “may not last long, possibly not even until the end of 2019.”Guterres further adds, “Daesh might not need to generate revenue from oil fields and local people now.

Informal money transfer businesses are known as “Hawaladars” are the most common method being used now.”Additionally, they could be making use of looted antiquities from Iraq as another source of revenue. Details of antiquities traded and the current location of any stored antiquities are assessed to be known only to ISIL leaders.

Returnees from the conflict have been heard saying there was a special unit responsible for selling such objects. Guterres said the evolution of a covert Daesh network in Iraq at the provincial level since 2017 is being mirrored in Syria, with attacks increasing in government-controlled areas.

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