You will be shocked to know that the monthly income of Islamic State’s monthly income sums up to be $80 million for the year 2015. Half of this total income is coming from confiscation of businesses within the state and from taxation. And 43% of the total income comes from oil if a study that was released on Monday is to be believed.
Columb Strack who is working as a senior analyst at Information Handling Services (HIS) and also as a lead analyst for Conflict Monitor at IHS only said that Islamic State has never been dependent on foreign donors for money like al-Qaida thus it is less vulnerable from their influence.
It was also that the value of donations from the external sources has been minimum as compared to the revenue generated from internal sources.
A team that is responsible for the Conflict Monitor at IHS Aerospace , security and defense on a monthly basis conducted a study of social media and open source intelligence.
Strack said, “According to information gathered from Arabic-language social media, and our in country source network, efforts to target Islamic State’s sources of revenue are paying off,”.
There are six main revenues for the Islamic state
- Production and smuggling of gas and oil
- Arrogation of land and properties
- Taxation on the profits of all the commercial activities that are held in areas under its control
- Criminal activities such as kidnapping for ransom and bank robbery
- state run businesses, such as running small enterprises, comprising of transport companies or real estate agencies
- trafficking of drugs and antiquities
Basic services and the economic activities comprising of retail, agriculture, industry, electricity, mobile phone network and others that are directly under the control of territory. A total of 20% tax is levied on all such services.
Thus, we all know how Islamic State has such enormous revenue!