Turkey Imposes Financial Sanctions on Al-Khalidi Exchange and Its Affiliates

The Turkish government has taken a significant step in its efforts to combat terrorism and maintain national security by adding Al- Khalidi Exchange, a Turkey-based entity, to its sanctions list.

Entity Linked to Terrorist Organizations

Al-Khalidi Exchange, which operates under various aliases including AL- KHALIDI JEWELRY COMPANY, KHALIDI COMPANY FOR JEWELRY, and AL- KHALIDI MONEY TRANSFER OFFICE, among others, has been linked to the Islamic State of Iraq and the Levant (ISIL).

Global Presence

The entity is said to have maintained a presence in several countries, including:

• Turkey: Cankaya Mahallesi, Mersin; Silifke Cd. Akdeniz, Bursa
• Syria: Raqqah
• Iraq: Nishtaman building second floor, Irbil
• Istanbul (multiple locations)

Sanctions Objectives

The sanctions against Al-Khalidi Exchange and its affiliates aim to:

• Prevent the entity from accessing Turkey’s financial system
• Disrupt its ability to provide financial support to terrorist organizations

These measures are expected to have significant implications for the entity’s operations and those of its associates.

Turkey’s Commitment to Combating Terrorism

Turkey has been actively engaged in combating terrorism and maintaining national security, and the addition of Al-Khalidi Exchange to its sanctions list reflects this commitment. The country continues to work closely with international partners to:

• Share intelligence
• Coordinate efforts to combat terrorist financing and other forms of financial crime