Islamic State’s $2bn budget is much smaller than thsoe of the countries it is trying to take over January 6, 2015 Two billion dollars (£1.31bn) sounds like a lot of money, but in the context of state budgets it's small. It's 500 times smaller than the US national budget, and 50 times smaller than Iraq's. Yet this amount has sent shivers down the media's collective spine since yesterday, when the first annual budget for terrorist [...]
How to destroy Islamic State: What Obama could learn from Wall Street November 17, 2014 TWENTY years ago, I sat on Wall Street as an expectant, newly-hired investment banker, being trained in the arts (although there was some science involved) of corporate finance, bond maths, and company valuations. One phrase from a shouty lecturer remains imprinted on my mind to this day. “Life’s just a stream of cashflows,” he bellowed [...]
Islamic State still makes “several million” dollars a week despite coalition airstrikes November 13, 2014 Coalition airstrikes are taking their toll on the Islamic State (I.S) group's revenue streams, yet the US said today that the terrorist organisation still earns "several million" dollars per week. I.S (also referred to as ISIL) has raised a “significant amount” of money from selling oil plundered from fields in Syria and Iraq argued [...]
Finance for terrorists: Why it’s proving so hard to choke off Islamic State November 12, 2014 Islamic State’s (IS) gruesome beheading videos thrust it onto the world stage and galvanised Western military intervention. But just as the group’s propaganda machine combines medieval barbarism with the very modern power of social media, so its finances combine old-fashioned looting and pillaging with high-tech illicit funding. By many estimates, IS is now the richest [...]
The West’s eyes are on Syria – but Islamic State is still winning in Iraq October 26, 2014 There is little doubt that Islamic State’s (IS) siege of Kobani in Syria is a gripping story. Echoing similar narratives to the Alamo and the Boxer Rebellion, a small band of brave and determined “good guys” (in this case the Syrian Kurds) miraculously seem to be holding off hordes of fanatical “bad guys” (IS). Indeed, [...]
Islamic banking UK: Islamic Bank of Britain re-branded to Al Rayan Bank as number of non-Muslim investors grows October 23, 2014 The Islamic Bank of Britain has unveiled plans to change its name to Al Rayan Bank, as it aims to increase its presence in London and acquire a wider range of customers. It will also update its logo and all other aspects of its brand identity across its website and UK branches. As long [...]
Islamic State terror plot: Four London men accused of swearing allegiance to IS and using Google Street View for “hostile reconnaissance” October 17, 2014 Scotland Yard has announced that four London men have been charged with intention to commit acts of terrorism. The men have been of accused of swearing an oath to the terror group Islamic State. Furthermore, it is alleged the men were attempting to buy a pistol furnished with silencer. Scotland Yard said the men are [...]
David Cameron vows to “hunt down” Islamic State killers after Alan Henning murder October 4, 2014 David Cameron has vowed to hunt down the IS murderers of British aid volunteer Alan Henning. The Prime Minister said: "The brutal murder of Alan Henning by Isil [IS] shows just how barbaric and repulsive these terrorists are. My thoughts and prayers tonight are with Alan’s wife Barbara, their children and all those [...]
Why taking on Islamic State in Syria is a recipe for unmitigated disaster September 28, 2014 For all that he is supposed to be a master communicator – and despite the oceans of ink spilled on the subject – I must confess I have no idea what exactly President Obama is trying to do against the Islamic State (IS). The White House talks of degrading and ultimately destroying the militants by [...]
UK jets take off for first combat mission against Islamic State in Iraq September 27, 2014 British fighter jets are making their way to Iraq for their maiden combat mission, following yesterday's parliamentary vote in favour of air strikes in the region. At 8.30 this morning, two Tornado GR4 fighter jets took off from their base in Cyprus, where they have been located since August. They are armed with Brimstone [...]