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ISIS builds a huge cash reserve to buy out terrorist groups

By Vicky

The ISIS today has become a global phenomenon and with various terrorist groups pledging allegiance to them the question that needs to be asked if it is only ideology that is drawing them together? The ISIS does have a lot of money and the manner in which they have been spending it to draw people into their fold, it becomes clear that ideology is a far cry.

Money matters to everyone and with the ISIS controlling several oil wells in Iraq, it has managed to lure several persons into their fold. Here let us take a look at how much money the ISIS has been spending.

ISIS buying terrorist groups

Oils well that ends well

For the ISIS taking control over the oil wells in Iraq was an important move. Everyone knows that the oil wells bring in money that can be stored only in bottomless chests. So what is the ISIS making from these oil wells?

Yes you heard it right, a rough estimate would show that in their worst week they manage to make 2 million dollars. The best they have ever made is 4 million dollars a week.

Iraqi military strategist Hisham al-Hashim tells the Al-Monitor that the ISIS' force comes from expansion and money has been a driving force behind its rich and influential reach.

Also read: The Ouch Moment of a Terrorist: When a selfie helped US forces to destroy ISIS secret headquarter

The ISIS has deployed a strong army to guard its oil wells. In fact it also has a minister to take decisions regarding the sale of oil and a finance minister to deal with the money. While there is a battle on for supremacy in Iraq, the ISIS would want to ensure that they gain control over almost all the oil wells in Iraq.

The lure of money

In the past couple of months, the ISIS has made some very dangerous friends. The most dangerous of them all is the Boko Haram. The ISIS needs partners such as the Boko Haram and also another group called the Ansar al-Sharia.

The ISIS has been paying the Boko Haram and Ansar al-Sharia 6 million dollars a month to keep the alliane alive. The Boko Haram clearly shifted loyalties from the Al-Qaeda to the ISIS due to the money they were getting. It may be recalled that the Al-Qaeda used to pay Boko Haram a sum of 2 million dollars a month.

The ISIS has also made investments in Libya, Nigeria, Yemen and Indonesia. Money has been moved to these countries and alliances forged with other terrorist groups operating there.

What do these partnerships mean?

These partnerships that the ISIS has been forging off late would ensure that it goes on to become a global outfit. While it is still focusing on Iraq and Syria, it would want other groups to wage the war in their name in other countries.

Countries such as Libya, Nigeria, Yemen, Indonesia and also Afghanistan are strategically important for the ISIS. The ISIS knows where to put its money and its finance minister has been doing just that.

The ISIS in the days to come will look to forge more such alliances in different parts of the world. It is building a huge cash reserve to ensure that the outfit becomes a global phenomenon very soon.

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