Ransoms… Islamic State grows richer

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Militants of the Islamic State. File photo

ARA News

Istanbul, Turkey – A U.N. expert said Wednesday that the Islamic State group (IS/ISIS) obtained more than $45 million from ransoms for the release of captives during the past few years, and considers kidnapping as one of the main funding sources of the group.

The radical IS group relies on kidnapping and ransoms as a major financial resource to fund its operations in Syria and Iraq. 

Youtesna Algy, a specialist in the sanctions imposed by the United Nations on al-Qaeda, said that about $120 million was received as ransoms by the terrorist groups during the period between 2004 and 2012.

“The share of the IS (Islamic State) group has reached 45 million dollars so far,” she said. 

In a meeting with the Counter-Terrorism Committee of the U.N. Secutrity Council, Algy reportedly said that kidnapping cases for ransom are still growing as al-Qaeda and affiliated groups have made abductions their essential tactic for gaining financial revenue. 

The U.N. specialist added that al-Qaeda in the Arabian Peninsula has received about 20 million dollar as ransoms between 2011 and 2013, while the same group (al-Qaeda) in north Africa received 75 million dollar for the past four years.

She said that the terrorist groups are conducting kidnappings either by their members or through some tribes who handover hostages to the extremists in exchange for a fee in the Arabian Peninsula. 

 

Reporting by: Mohammed Nasser

Source: ARA News

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