ISIS: Sources of Funds and Expenditures

NEW DELHI: ISIS is said to be the world’s richest terrorist organization. The oil wells in the territories controlled by it has been the largest sources of finance for ISIS.

ISIS

However it’s sources of funds are dwindling as the organization is losing ground.

Donations from some Gulf States as well as profits from foreign exchange markets are other sources of funds for ISIS. US-led alliance carried out attacks against the oil installations, and conveys with the intention of crippling the sources of finance of ISIS.

The reports say that such attacks have resulted in reduction of oil revenues by one third. Several western sources have hinted that ISIS regimes oil revenue was collapsing. Yet there are many experts who say that ISIS operations are not “Oil Revenue Dependent “.

Oil Field's in ISIS controlled Areas
Oil Field’s in ISIS controlled Areas

Some experts believe that ISIS is getting larger funds from various sources apart from its gain from manipulating Iraqi Banking system.

According to some western experts, 40 % of ISIS revenue has been generated through oil revenue, while other 40 % of funds are collected through extortion or tax revenues from citizens living in the areas of its control. The rest 20% of finance is generated through sale of antiquities and donations.

Crude Oil being sold in the Black Market by ISIS
Crude Oil being sold in the Black Market by ISIS

Intelligence sources reveal that during 2014, ISIS was producing 7000 Barrels Oil per day, which might have earned them $ 500 million annually. Thus it collected substantial revenue through Oil. Sources said that this oil revenue must have been dropped to $200 million due to the armed campaign of US-Alliance.

This oil funded terrorist organization also has expenditures .

Some Expenses of ISIS :

*The ISIS pays its soldiers monthly pays ranging from $ 400 to $ 1200.

*It also hires highly skilled engineers and technicians, on higher salaries.

*Expenses to run dispensaries, schools, and administration in its areas of control.

*Expenses to procure arms and ammunition’s.

ISIS running a Government of its own
ISIS running a Government of its own

Big claims of dismantling terrorist networks and squeezing finance for terrorism through war against terrorism has been proved wrong by ISIS, although it has been pushed on back-foot.

Also Read: ISIS objected to Sufi Ritual “DHAMAL”

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