Egyptian-US collaboration to combat IS’s financial system

Nourhan Elsebahy
2 Min Read
Security forces have arrested a man on Tuesday in the Daqahleya governorate, claiming he was the leader of a local “Islamic State” (IS) cell consisting of six members (AFP File Photo)

The US and Egypt discussed ways to disrupt “Islamic State’s” (IS) financial networks in a meeting Sunday to cut off the “brutal terrorist organisation” from its funding sources and isolate it from the international financial system.

US Assistant Secretary for the Department of the Treasury Daniel Glaser met with senior Egyptian officials and discussed common strategies to limit IS’s access to the international financial system. They also discussed the possibilities of both countries collaborating the best they can to disrupt its financing, according to a statement released by the US embassy.

Glaser met with senior officials from Egypt’s Foreign Ministry and Ministry of Interior, and the Central Bank of Egypt (CBE).

“The US has been working closely with regional partners such as Egypt and is taking serious steps to isolate this brutal terrorist organisation from the international financial system,” Glaser said in a press statement.

“I came to Egypt to empower Egypt’s counter-terrorism strengths and improve our collaboration, especially against IS affiliates in North Africa. We discussed future engagements and we are looking forward to our continued partnership with Egypt, so we can work together to destroy IS.”

Glaser is the Assistant Secretary for the Department of the Treasury for Financial Intelligence in the Obama Administration. He directs the Office of Terrorism and Financial Intelligence. He is responsible for formulating and coordinating counter-terrorist financing, anti money-laundering policies, and strategies for the department.

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Nourhan El-Sebahy is a journalist at DNE’s politics section. Just before joining DNE’s staff, she was working as a journalist at El-Watan newspaper “an Egyptian daily independent newspaper”. She holds a Master’s Degree of Journalism and Mass Communication from the American University in Cairo (AUC). She was awarded by Certificate of honor on the Fourth Scientific Day Celebration in 2013 and Graduate Student’s honor at AUC in 2012.
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