Foreign Affairs Sub-Committee examines the UK's role in interrupting the flow of financing to ISIL

DOT

Old-Salt
#1
The House of Commons Foreign Affairs Committee has established a Sub-Committee to conduct a short inquiry into the UK’s role in interrupting the flow of financing to ISIL.

The group’s main sources of revenue are thought to be taxation and the oil trade. It also receives revenue from other sources including donations. The inquiry will consider how the UK can best target each of these revenue sources. The Sub-Committee’s findings on the subject will be reported to the main Committee and will contribute to its ongoing inquiry on The Fight Against ISIL: the UK's role.

On Tuesday 2 February from 3.10pm, the Sub-Committee will hear from:

At 3.10pm
  • Luay al-Khateeb, Executive Director, Iraq Energy Institute
  • David Butter, Associate Fellow, Chatham House
  • Tom Keatinge, Director, Centre for Financial Crime and Security Studies, Royal United Services Institute
  • Rim Turkmani, Senior Research Fellow, LSE
At 4.10pm
  • Güçlü Cem Işik, Deputy Chief of Mission, Turkish Embassy in London
Watch the session in full on Parliament TV.

 

DOT

Old-Salt
#2
On Tuesday 26 April from 3.15pm, the House of Commons Foreign Affairs Sub-Committee heard evidence on the UK's role in interrupting the flow of financing to ISIL.

The Committee will hear from:
  • Air Vice-Marshal Edward Stringer CBE, Cross-Whitehall Senior Responsible Officer for Counter-Daesh Finance
  • Patrick Rarden MBE, Counter-ISIL Finance subject matter expert, currently consultant to Ministry to Defence
Watch the session on Parliament TV.

 

DOT

Old-Salt
#3
The Foreign Affairs sub-Committee has published its report on 'The UK's role in the economic war against ISIL'

In their report MPs on the Foreign Affairs sub-Committee say ISIL faces an increasingly desperate struggle to raise money. The so-called 'richest terrorist group' may have generated more money than any other terrorist organisations but it also incurs unprecedented costs.

The report considers the known methods by which ISIL raises revenue including oil production, taxation, cash storage facilities, donations and access to local and international financial systems. The UK has worked with the Coalition to block these routes as part of an economic war, including the use of airstrikes to destroy ISIL’s bulk cash storage facilities and oil infrastructure.

The UK has the capacity to lead the international effort to isolate ISIL financially. But for its contribution to match its potential, the UK must do more to ensure that experts in its public and private sectors work effectively together, and that allies abroad have access to this expertise.

Read the report: The UK's role in the economic war against ISIL

Chair's comments
The report was prepared by a sub-Committee of the Foreign Affairs Committee. Chair of the sub-Committee, John Baron MP, commented:

"ISIL's finances have been damaged by the Coalition’s efforts but more needs to be done. The UK contribution seems underpowered compared to our potential.

ISIL thrives in states debilitated by war. The Iraqi Government must demonstrate that this terrorist organisation does not and cannot generate income from inside Iraq's financial systems - that must be transparent to all. The UK Government is in a position to help Iraq develop effective abilities of its own to counter ISIL's finances.

Much depends on blocking access to local and international money-making activities. The UK Government needs to speed up the recruitment, and ensure the retention, of specialists who understand local custom and practice.

This is a fluid picture. As oil and tax revenues decline, ISIL is likely to seek new sources of funding. The UK should take a leading role in international efforts to identify and target new funding streams for ISIL with a stronger role in the CIFG (Counter-ISIL Finance Group) currently chaired by the US, Italy and Saudi Arabia."
 
#4
The Foreign Affairs sub-Committee has published its report on 'The UK's role in the economic war against ISIL'

In their report MPs on the Foreign Affairs sub-Committee say ISIL faces an increasingly desperate struggle to raise money. The so-called 'richest terrorist group' may have generated more money than any other terrorist organisations but it also incurs unprecedented costs.

The report considers the known methods by which ISIL raises revenue including oil production, taxation, cash storage facilities, donations and access to local and international financial systems. The UK has worked with the Coalition to block these routes as part of an economic war, including the use of airstrikes to destroy ISIL’s bulk cash storage facilities and oil infrastructure.

The UK has the capacity to lead the international effort to isolate ISIL financially. But for its contribution to match its potential, the UK must do more to ensure that experts in its public and private sectors work effectively together, and that allies abroad have access to this expertise.

Read the report: The UK's role in the economic war against ISIL

Chair's comments
The report was prepared by a sub-Committee of the Foreign Affairs Committee. Chair of the sub-Committee, John Baron MP, commented:

"ISIL's finances have been damaged by the Coalition’s efforts but more needs to be done. The UK contribution seems underpowered compared to our potential.

ISIL thrives in states debilitated by war. The Iraqi Government must demonstrate that this terrorist organisation does not and cannot generate income from inside Iraq's financial systems - that must be transparent to all. The UK Government is in a position to help Iraq develop effective abilities of its own to counter ISIL's finances.

Much depends on blocking access to local and international money-making activities. The UK Government needs to speed up the recruitment, and ensure the retention, of specialists who understand local custom and practice.

This is a fluid picture. As oil and tax revenues decline, ISIL is likely to seek new sources of funding. The UK should take a leading role in international efforts to identify and target new funding streams for ISIL with a stronger role in the CIFG (Counter-ISIL Finance Group) currently chaired by the US, Italy and Saudi Arabia."
Just a comment on your summary and because I haven't read the sub-committee's report; it appears that the focus on IS is limited to its presence in Iraq. If this is the case, then it ignores the non-state ambitions of the group, which now has 'wilaya' in countries spreading from the Philippines to Nigeria and which has a support base even in European countries.

I think the focus on the taxation and spending of one group in one part of its 'territory', where there are other dangerous groups, is too limiting to be able to create meaningful conclusions.

B. A. Park
 

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