Abstract
The Islamic State (IS) took the global stage in June 2014 and since has become one of the greatest threats to international peace and security. While initially closely affiliated with Al-Qaeda, the IS has proved itself to be a distinct phenomenon of horror—more dangerous than Al-Qaeda. The group essentially established itself in the volatile Middle East, but has infiltrated many parts of the world with the aim of expanding Islam’s Holy War. What certainly makes the IS different from its predecessors is that the group has been labeled the wealthiest terrorist group in the world today. By the fall of 2015, IS generated an annual income of US$2.4 billion. The question for many analysts observing the situation in Syria is: where does the IS gets its money? The aim of this article is to critically observe the nature of IS and its funding requirements and the measures pursued in curtailing the group’s funding.
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