U.S. Treasury Targets Hamas Financial Network

[Valin]

FDD's Long War Journal

Joe Truzman

May 26, 2022

On May 24, the U.S. Treasury’s Office of Foreign Asset Control (OFAC) announced it designated a Hamas financial official, and other financial facilitators, including companies used to move money for the Gaza-based militant organization. The move is the latest in a series of actions by the U.S. government to target Hamas’ illicit financial network around the globe.

The individuals and entities sanctioned by Treasury were Ahmed Sharif Abdallah Odeh, Usama Ali, Hisham Yunis Qafisheh, ‘Abdallah Yusuf Faisal Sabri, Trend GYO, Anda Company, Agrogate Holding, Al-Rowad Real Estate Development, Sidar Company and Itqan Real Estate JSC.

All were found by Treasury to be involved in concealing and laundering funds for Hamas.

Treasury noted that Hisham Yunis Qafisheh played an “important role” in the transfer of Hamas funds. He also managed several companies operated by Hamas, including Agrogate Holding, Al-Rowad Real Estate Holding and Turkey-based Trend GYO.

From documents obtained by FDD’s Long War Journal, Qafisheh was also a board member of another Turkish real estate company called IYS. That information was not included in Treasury’s report and IYS was not mentioned as having any connection to Hamas in Tuesday’s announcement.

Also not mentioned in Treasury’s report is Qafisheh’s change of name.

(Snip)