Saudi Arabia is opening a fund to fund the creation of a “coup” fund that will provide financial support for “Islamic State” (IS) militants in Syria and Iraq.
Saudi Arabian state news agency SPA reported on Monday that the “Islamic Society of Saudi Arabia” (ISIS) was launching a new online fund called the “Al-Muqaddimah Fund”, which will be able to raise $500,000 a month for “extremist and terrorist groups”.
The fund is to be administered by the Ministry of the Interior (MoI), and will be funded by the Saudi Arabian government, the ministry said in a statement.
The fund, which will also have “security” provisions, will allow individuals and organizations to transfer funds between accounts, the statement added.
“The aim of the fund is that it will help the victims of crimes committed by terrorists, including those of Daesh, and that its members can transfer funds from the fund to the victims, the MoI said in the statement.
Saudi Arabia has been engaged in a fierce crackdown on “Islamic extremism” in recent years, with authorities cracking down on suspected Islamists and arresting many activists.