This article needs to be updated. Please help update this article to reflect recent events or newly available information.(January 2018)
Since 2012, the Islamic State (IS) has produced annual reports giving numerical information on its operations, somewhat in the style of corporate reports, seemingly in a bid to encourage potential donors.[1][2]
In 2014, the RAND Corporation analyzed ISIL's funding sources by studying Bharatpur documents — personal letters, expense reports and membership rosters — captured from the Islamic State of Iraq (which included al-Qaeda in Iraq) by US forces in Iraq between 2005 and 2010.[3] It found that over this period, outside donations amounted to only 5% of the group's operating budgets, with the rest being raised within Iraq.[3] In the time period studied, cells were required to send up to 20% of the income generated from kidnapping, extortion rackets and other activities to the next level of the group's leadership. Higher-ranking commanders would then redistribute the funds to provincial or local cells which were in difficulties or which needed money to conduct attacks.[3] The records show that the Islamic State of Iraq depended on members from Mosul for cash, which the leadership used to provide additional funds to struggling militants in Diyala, Salahuddin and Baghdad.[3]
In mid-2014, the Iraqi National Intelligence Service obtained information from an ISIL operative which revealed that the organisation had assets worth US$2 billion,[4] making it the richest jihadist group in the world.[5] About three-quarters of this sum is said to be represented by assets seized after the group captured Mosul in June 2014; this includes possibly up to US$429 million looted from Mosul's central bank, along with additional millions and a large quantity of gold bullion stolen from a number of other banks in Mosul.[6][7] However, doubt was later cast on whether ISIL was able to retrieve anywhere near that sum from the central bank,[8] and even on whether the bank robberies had actually occurred.[9]
According to a 2015 study by the Financial Action Task Force, ISIL's five primary sources of revenue are as follows (listed in order of significance):
proceeds from the occupation of territory (including control of banks, oil and gas reservoirs, taxation (including zakat), extortion, and theft of economic assets)
taxation of the non Muslim population (jizya)[10]
kidnapping for ransom[11]
donations by or through non-profit organizations
material support provided by foreign fighters
fundraising through modern communication networks[12]
Another 2015 analysis also contends that ISIL's financial strength is in a large part due to "fanatical spending discipline".[13]
The United States Department of State's Rewards for Justice offers US$5 million for information leading to the disruption of the sale and/or trade of oil and antiquities by ISIS.[14]
^Khalaf, Roula; Jones, Sam (17 June 2014). "Selling terror: how Isis details its brutality". Financial Times. Retrieved 18 June 2014.
^Matthews, Dylan (24 July 2014). "The surreal infographics ISIS is producing, translated". Vox. Retrieved 25 July 2014.
^ abcdAllam, Hannah (23 June 2014). "Records show how Iraqi extremists withstood U.S. anti-terror efforts". McClatchy News. Retrieved 25 June 2014.
^Chulov, Martin (15 June 2014). "How an arrest in Iraq revealed Isis's $2bn jihadist network". The Guardian. Retrieved 17 June 2014.
^Moore, Jack (11 June 2014). "Mosul Seized: Jihadis Loot $429m from City's Central Bank to Make Isis World's Richest Terror Force". International Business Times. UK. Retrieved 19 June 2014.
^McCoy, Terrence (12 June 2014). "ISIS just stole $425 million, Iraqi governor says, and became the 'world's richest terrorist group'". The Washington Post. Retrieved 18 June 2014.
^Carey, Glen; Haboush, Mahmoud; Viscusi, Gregory (26 June 2014). "Financing Jihad: Why ISIS Is a Lot Richer Than Al-Qaeda". Bloomberg News. Retrieved 19 July 2014.
^"U.S. Official Doubts ISIS Mosul Bank Heist Windfall". NBC News. 24 June 2014. Retrieved 22 July 2014.
^Daragahi, Borzou (17 July 2014). "Biggest bank robbery that 'never happened' – $400m Isis heist". Financial Times. Retrieved 21 July 2014.(subscription required) Accessible via Google.
^Sly, Liz (October 2015). "They freed a Syrian town from ISIS. Now they have to govern it". Washington Post.
^"Inside the Islamic State kidnap machine". BBC News. 2015-09-22. Retrieved 2016-10-09.
^"Financing of the Terrorist Organisation Islamic State in Iraq and the Levant" (PDF). Financial Action Task Force. February 2015. Retrieved 19 April 2015.
^Simpson, Cam; Philips, Matthew (19 November 2015). "Why ISIS has all the money it needs". Bloomberg Business. Retrieved 19 November 2015.
^"Trafficking in Oil and Antiquities Benefitting the Islamic State of Iraq and the Levant (ISIL)". Rewards for Justice. Archived from the original on 2019-08-01. Retrieved 2020-01-04.
and 24 Related for: Finances of the Islamic State information
Since 2012, theIslamicState (IS) has produced annual reports giving numerical information on its operations, somewhat in the style of corporate reports...
smuggling was the largest source of revenue for thefinancesoftheIslamicState (IS or ISIS) in Syria and Iraq until the complete loss of its territory...
The following is a list of conflicts involving the jihadist militant group known as theIslamicState (IS/ISIL/ISIS/Daesh), throughout its various incarnations...
Public finance is the study ofthe role ofthe government in the economy. It is the branch of economics that assesses the government revenue and government...
TheIslamicState (IS) had its core in Iraq and Syria from 2013 to 2017 and 2019 respectively, where the proto-state controlled significant swathes of...
TheIslamicStateof Iraq (ISI; Arabic: دولة العراق الإسلامية Dawlat al-ʿIrāq al-ʾIslāmiyyah) was a Salafi jihadist militant organization that fought the...
Many states began to intervene against theIslamicState, in both the Syrian Civil War and the War in Iraq (2013–2017), in response to its rapid territorial...
The name oftheIslamicState has been contentious since 2013. In Arabic, the group called itself al-Dawlah al-Islāmīyah fī al-`Irāq wa al-Shām (الدولة...
The Yazidi genocide was perpetrated by theIslamicState throughout Iraq and Syria between 2014 and 2017. It was characterized by massacres, genocidal...
sources to be inspired by theIslamicState (IS), also known by other names. IslamicState's predecessor organization, IslamicStateof Iraq (ISI) was established...
criticized. Glossary ofIslam Index ofIslam-related articles Islamic mythology Islamic studies Major religious groups Outline ofIslam "Hasan al Basri is...
Centre Cryptocurrency and crime FBI FinancesoftheIslamicState Financial crime Funding Evil List of charities accused of ties to terrorism Money laundering...
TheIslamicState – Libya Province is a militant Islamist group active in Libya under three branches: Fezzan Province (Arabic: ولاية فزان, Wilayah Fizan)...
and Libya controlled by theIslamic terrorist group IslamicState. Persecution of Christian minorities climaxed following the Syrian civil war and later...
The origins oftheIslamicState group can be traced back to three main organizations. Earliest of these was the "Jamāʻat al-Tawḥīd wa-al-Jihād" (transl...
list of leaders oftheIslamicState since the establishment oftheIslamicStateof Iraq. List of known leaders ofthe international branches ofthe Islamic...
Islamic taxes are taxes sanctioned by Islamic law. They are based on both "the legal status of taxable land" and on "the communal or religious status of...
Global Information