world

Counter ISIL Finance Group holds inaugural meeting in Rome

Counter ISIL Finance Group holds inaugural meeting in Rome

Counter ISIL Finance Group holds inaugural meeting in Rome

WASHINGTON: Italy, Saudi Arabia and the US co-led inaugural meeting of Counter-ISIL Finance Group (CIFG) in Rome where representatives from 26 countries have met since Thursday to agree on a plan to expand knowledge of ISIL’s financial and economic activities.

The CFIG was established in part of the Counter-ISIL Coalition to coordinate, “among international partners on key lines of effort to defeat ISIL,” said a State Department release on Friday. “The CIFG will meet regularly to consult on efforts to counter ISIL’s financial activities and economic sustainment.” The CIFG “Action Plan” identifies ways that Coalition members can disrupt ISIL’s sources of revenue to prevent ISIL’s participation in international finance and halt its extortion of oil, goods, and cultural properties. This includes plan ceasing funding from abroad into the terrorist group and from ISIL to its foreign affiliates.

The State Department affirmed CIFG will, “work to accomplish these goals through enhanced information collection and sharing, developing new countermeasures, providing technical assistance, coordinating sanctions efforts, strengthening internal anti-money laundering/counter-terrorist financing measures, and private sector outreach.” The next CIFG meeting is scheduled to take place in Saudi Arabia in May.

More in world