Iraq News - Local News - Baghdadpost

ISIS terrorists plundered $800 million from Iraq

ISIS terrorist seize $800 million from Iraq

ISIS terrorist group in its three years in control of major cities in Iraq plundered more than $800 million from Iraqi bank facilities, Newsweek reported on Thursday.


In a new report, the Central Bank of Iraq says that ISIS terrorists have taken $101 million and 856.5 billion Iraqi dinars ($727.6 million) from banks in the territory it controlled following the creation of its self-styled caliphate in July 2014, a total of almost $830 million.


The number is a significant amount but analysts had believed the group to have stolen trillions of Iraqi dinars.


“The 800 billion Iraqi dinars helped them pay salaries and make everyone happy at first, to win over some hearts,” says Qusay Muhyaldeen, an analyst at Euphrates Advisors, a Delaware investment company that manages the Euphrates Iraq Fund.


They have made a lot more from confiscating property, exporting oil, human trafficking, and smuggling weapons businesses.


The group became one of the richest extremist groups in history, using its territorial hold to gather funds from a variety of income streams, such as oil smuggling, looting and the taxing of those living under its control, as well as the confiscation of property and possessions.



Last Modified: Thursday، 10 August 2017 08:17 PM