A money exchange company named "Dubai" (there is no commercial or other connection to the United Arab Emirates) has for years constituted a significant part of Hamas' economic infrastructure for laundering and transferring capital from the overseas sources of financing to the party's systems in the West Bank and the Gaza Strip. The financial axes are based on financing funneled to the party from overseas and reaching the Gaza Strip and the West Bank in amounts of tens of millions of dollars using an offset method. These axes are based on the exploitation of allegedly legitimate imports of goods and their sale for terror financing purposes.
The designation of the "Dubai" money exchange company as a terrorist organization by the National Bureau for Counter Terror Financing will made it difficult for it to conduct financial activity and thereby will compromise the axis of offsets on which Hamas relies for laundering and transferring funds intended for terrorism.
Designation No. 377 - Dubai Money Exchange and Funds Transfer Office.
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