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Following a U.S. airstrike in Somalia in late May, there were news reports that the Islamic State had appointed Abdulqadir Mumin, the emir of the group's affiliate in Somalia, as its worldwide leader. The outcome of the airstrike is still unclear. While debates around the accuracy of the reports on Mumin's promotion continue, the revelation ushers in a unique set of consequential questions regarding the Islamic State's strategic position and operational priorities. The authors argue that the Islamic State's reported regional shift in leadership would mark an unprecedented but pragmatic move for the organization. This article presents an overview of Mumin's background, assesses the Islamic State's operations during Mumin's supposed tenure, and situates the analysis within the context of the organization's traditional approach to leadership., Recently, news reports claimed that the U.S. military had targeted the global leader of the Islamic State in an airstrike in late May. (1) It has not been confirmed that [...]

The fall of the Islamic State's caliphate in Iraq and Syria significantly impacted the group's ability to fundraise through territorial control. Despite this loss, the group retained substantial financial reserves, estimated between $10 million to $30 million, some of which were stored outside its immediate area of operations. These funds have enabled the Islamic State to sustain and expand its global network of provinces and sub-groups, primarily in Africa and Asia, through the General Directorate of Provinces and by providing start-up and sustenance funds to its various sub-groups. This article provides an in-depth analysis of the Islamic State's financial strategies post-caliphate, illustrated through case studies of various Islamic State provinces and sub-groups and their financing mechanisms. The Islamic State's evolving global strategy and financial strength is a challenge for international efforts to combat the group's persistent and adaptive financial network. The article concludes with a discussion of the implications for global security., The fall of the Islamic State's caliphate in Iraq and Syria in 2019 marked a profound loss of territory for the group. Prior to this, the Islamic State was a [...]

As 2023 was ending, the U.S. Department of Treasury and the Internal Revenue Service (IRS) released helpful guidance regarding foreign tax credits (FTCs). Notice 2023-80 extends relief provided in a [...]

1. INTRODUCTION It is said that the only things we can be certain of in this world are death and taxes. Perhaps so. But I'm inclined to add technological change [...]

Global Banking News-September 23, 2024-US Department of Treasury Awards USD 60m to Florida Community Loan Fund (C)2024 ENPublishing - http://www.enpublishing.co.uk US-based nonprofit lending institution the Florida Community Loan Fund has [...]

The 10-year Treasury yield is the key rate to watch for many borrowers. The bond yield has been rising, not falling, since the Fed announced its big rate cut. As [...]

Byline: Sead Fadilpasic The US government expands the list of sanctioned people selling spyware. The US government has initiated a new round of sanctions against commercial spyware makers and their [...]

Global Banking News-September 16, 2024-Janus Henderson to Partner with Anemoy (C)2024 ENPublishing - http://www.enpublishing.co.uk UK-based Janus Henderson Group plc (NYSE: JHG) said that Janus Henderson Investors will be entering into [...]

The IRS is supposed to focus on audits of corporations and high-income and wealthy taxpayers. But who’s really under the agency’s microscope? Some answers can be found in a new [...]

U.S. Treasury reported a -$380.1 B budget deficit for August, much larger than the -89.3 B shortfall recorded for August 2023. Receipts are up 9.8% y/y to $306.5 B, while [...]

The yield curve disinverted this week, suggesting an economic recession may be near. Historically, yield curve disinversions have preceded every economic recession since 1976. Investors are reacting by selling stocks, [...]

CME Group reported its second-highest monthly volume ever, with average daily volume, or ADV, up 31% to 31.7 million contracts in August, driven by double-digit increases across all six asset [...]

Ahead Briefing HOW TO CLAIM AN EV TAX CREDIT INFORMATION ABOUT THE MARKETS AND YOUR MONEY KELLEY R. TAYLOR → Since the beginning of 2024, consumers who buy a qualifying [...]

Global Banking News-August 26, 2024--Australian unit of BlackRock launches new bond ETF (C)2024 ENPublishing - http://www.enpublishing.co.uk Global Banking News - 26 August 2024 BlackRock Australia has announced the launch of [...]

TLDR: Treasury withdraws 2020 FinCEN proposal on unhosted wallet KYC requirements Proposal faced strong industry opposition due to technical infeasibility Travel Rule proposal from 2020 still under consideration IRS draft [...]

The US Treasury and State Department has issued new sanctions against entities still helping Russia. Foreign entities have become a lifeline for Russia, supplying it with needed equipment. The Treasury [...]

TLDR An analyst predicts XRP price could reach $50-$60, a 10,400% increase The prediction is based on technical analysis of XRP’s price movements Ripple recently settled with the SEC for [...]

Byline: Ari I. Weinberg Amid a surge in issuance of equity exchange-traded funds employing derivative-based opportunities and hedges, the fixed-income ETF market has been relatively devoid of such offerings around [...]

Alexey Pertsev, the (https://cointelegraph.com/news/alexey-pertsev-seeks-funding-legal-appeal) co-founder and developer of Tornado Cash, a popular decentralized cryptocurrency mixing service, is seeking an additional $750,000 to $1 million to cover legal expenses for his [...]

In This Issue / Investment strategy Guru watch Nouriel Roubini, chief executive, Roubini Macro Associates Nouriel Roubini, the economist who became known as “Dr Doom” due to his warnings about [...]

(https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhJIPwQB97JD6cBHe3hHgnT0AyC-83fyiIjghJUNPknztz4AikzPM_a2JQla6ysjXLP8QyFXq9eR3RtNqgZ6W5o6K-C4As0b7PagMZlm_q2VmYdjzgEi_I2s0x21Xli47Obof83YhN8HWjsJMAqBFs2rhp7-j0mdTsytuyhWXX3z3-vaQRXxtvfadGaiPku/s683/wed%201.png) Overview: Yesterday's poor 10-year note US Treasury auction helped turn the equity market lower and this carried over into Asia Pacific and European activity today. Today, Treasury completes its [...]

Berkshire Hathaway now holds more short-term Treasurys than the Federal Reserve. The firm increased its holdings by 81% year-to-date through June, now owning $234.6 billion. It's on track to generate [...]

Global Banking News-August 6, 2024-US Treasury Grants Verity Credit Union USD 383,223 to Mitigate Predatory Lending (C)2024 ENPublishing - http://www.enpublishing.co.uk Seattle, US-based financial institution Verity Credit Union has received a [...]

Global Banking News-August 5, 2024-CME Group Touts Record July ADV of 24.8m Contracts (C)2024 ENPublishing - http://www.enpublishing.co.uk Chicago-based derivatives marketplace CME Group has reported its July 2024 market statistics set [...]

TLDR BlackRock’s tokenized BUIDL fund has paid $7 million in dividends since March 2024 BUIDL’s monthly dividend payouts have increased each month, reaching $2.12 million in July The fund has [...]

Weak economic data suggests the Fed will cut interest rates by more than expected through year-end, ING says. The firm cites rising jobless claims last week and a declining ISM [...]

1 Silver Morgan Dollar of 1900 with ‘O’ mintmark for New Orleans (AH Baldwin & Sons) Morgan Dollars are icons of American numismatics (Figure 1). Many collectors have encountered the [...]