The economy of Isis (and how it obtains funds)

According to a Bloomberg video, Islamic State differs from other terrorist organisations in that its funds come from many different sources.

The Money Show’s Bruce Whitfield interviewed Na’eem Jeenah, Executive Director of the Afro-Middle East Centre.

Na’eem looked at the economy of Isis.

Scroll down for quotes from the audio below.

Isis is more than a terror organisation. It controls territory and regards people within it as citizens. Providing services is a huge expense.

Na’eem Jeenah, Executive Director of the Afro-Middle East Centre

Isis makes a fair amount from kidnapping people.

Na’eem Jeenah, Executive Director of the Afro-Middle East Centre

A large part of its revenue comes from what it calls taxes.

Na’eem Jeenah, Executive Director of the Afro-Middle East Centre

The country-side that they control produces a lot of wheat.

Na’eem Jeenah, Executive Director of the Afro-Middle East Centre

The biggest part of its revenues comes from the sale of oil.

Na’eem Jeenah, Executive Director of the Afro-Middle East Centre

Not everyone asks where oil originally comes from.

Na’eem Jeenah, Executive Director of the Afro-Middle East Centre

I’m pretty sure some G20 members are buying this oil.

Na’eem Jeenah, Executive Director of the Afro-Middle East Centre

Up to a year and a half ago its funding was largely through donations. That hasn’t stopped, but it’s just a tiny part of their revenue now. After establishing themselves in Iraq and Syria they started making income in the way normal states do.

Na’eem Jeenah, Executive Director of the Afro-Middle East Centre

To destroy Isis you need boots on the ground.

Na’eem Jeenah, Executive Director of the Afro-Middle East Centre

Muslim communities around the world haven’t come to grips with how to stop Isis from recruiting new members.

Na’eem Jeenah, Executive Director of the Afro-Middle East Centre

A large part of Isis’ weapons came from the Iraqi army. Some weapons even came from Saddam Hussein’s army.

Na’eem Jeenah, Executive Director of the Afro-Middle East Centre

A lot of weapons that Isis has originated from the United States.

Na’eem Jeenah, Executive Director of the Afro-Middle East Centre

Subscribe to our Business Wrap Newsletter


Recommended

by NEWSROOM AI

702 welcomes all comments that are constructive, contribute to discussions in a meaningful manner and take stories forward.

However, we will NOT condone the following:

  • Racism (including offensive comments based on ethnicity and nationality)
  • Sexism
  • Homophobia
  • Religious intolerance
  • Cyber bullying
  • Hate speech
  • Derogatory language
  • Comments inciting violence.

We ask that your comments remain relevant to the articles they appear on and do not include general banter or conversation as this dilutes the effectiveness of the comments section.

We strive to make the 702 community a safe and welcoming space for all.

702 reserves the right to: 1) remove any comments that do not follow the above guidelines; and, 2) ban users who repeatedly infringe the rules.

Should you find any comments upsetting or offensive you can also flag them and we will assess it against our guidelines.

702 is constantly reviewing its comments policy in order to create an environment conducive to constructive conversations.

Read More
Venezuela inflation rate expected to top 1 000 000% by year-end

Venezuela inflation rate expected to top 1 000 000% by year-end

Venezuela – once as rich as Norway – is suffering an apocalyptic collapse without precedent.

What is a hedge fund?

What is a hedge fund?

The Money Show’s Bruce Whitfield interviews Fairtree Capital Portfolio Manager Jean-Pierre Verster.

100-year-old Truworths reports fewer sales and a 7.3% decline in earnings

100-year-old Truworths reports fewer sales and a 7.3% decline in earnings

The Money Show’s Bruce Whitfield interviews Truworths CEO, Michael Mark.

We have made progress in delivering on our promises to Marikana – Lonmin CEO

We have made progress in delivering on our promises to Marikana – Lonmin CEO

The Money Show’s Bruce Whitfield interviews Lonmin CEO Ben Magara.

4 tips for safely investing right now when everything is so hectic

4 tips for safely investing right now when everything is so hectic

Bruce Whitfield asks Personal Financial Advisor Warren Ingram for advice on how investors can safely navigate this hectic time.

How groups such as Isis obtain funding for terrorism

How groups such as Isis obtain funding for terrorism

Bernard Hotz, Head of Business Crime and Forensics at Werksmans Attorneys, discusses the science of terrorism funding.

Popular articles
 In the market for a 2nd hand car? Here are some tips to buy it on a budget!

In the market for a 2nd hand car? Here are some tips to buy it on a budget!

In the car feature, our very own car guy Tumelo Maketekete shares some tips and tricks to buying a car on a R100 000 budget.

Vigilante mob attacks alleged criminals in Daveyton

Vigilante mob attacks alleged criminals in Daveyton

Tensions are rife in the East Joburg township as the community attacked and killed criminals.

[WATCH] Dad uses a drone to pull out son's tooth

[WATCH] Dad uses a drone to pull out son's tooth

Khabazela shares YouTube videos gone viral including a barmaid hitting a colleague who slapped her rear during a routine.

4 tips for safely investing right now when everything is so hectic

4 tips for safely investing right now when everything is so hectic

Bruce Whitfield asks Personal Financial Advisor Warren Ingram for advice on how investors can safely navigate this hectic time.

[Listen] Lottery responds to Tshepo's fraud claims

[Listen] Lottery responds to Tshepo's fraud claims

Philemon Letwaba says Tshepo's case relates to some of the issues that they are dealing with on a daily basis.