More than a year of U.S.-led airstrikes and financial sanctions haven\u2019t stopped Islamic State from ordering supplies for its fighters, importing food for its subjects or making quick profits in currency arbitrage.<\/p>\n
This is because of men such as Abu Omar, one of the militant group\u2019s de facto bankers. The Iraqi businessman is part of a network of financiers stretching across northern and central Iraq who for decades have provided money transfers and trade finance for the many local merchants who shun conventional banks.<\/p>\n
When Islamic State seized control of the region in 2014, the world\u2019s wealthiest terror group made him an offer he decided not to refuse: You can keep your business if you also handle our money.<\/p>\n
\u201cI don\u2019t ask questions,\u201d\u009d said Abu Omar, whose money-exchange offices in the Iraqi cities of Mosul, Sulimaniyah, Erbil and Hit charge as much as 10% to transfer cash in and out of militant territory\u201d\u201dtwice normal rates. \u201cIslamic State is good for business.\u201d\u009d<\/p>\n