Shalom Life | November 25, 2014

Hamas and Islamic State Named the Richest Terrorist Organisations

Hamas gets the second place spot on the list after The Islamic State, according to The Times of Israel

By: Caitlin Marceau

Published: November 13th, 2014 in News » World

Hamas and Islamic State Named the Richest Terrorist Organisations

According an article by The Times of Israel, Hamas is officially the second-richest terrorist organisation in the world, with roughly $1 billion in funding, and second to the Islamic State which sports an astounding $2 billion in capital. According to their list, the ranking of the top ten groups are:

10. Boko Haram from Nigeria, with $25 million.

9. The Real Irish Republican Army, Ireland, with $50 million.

8. Harakat al-Shabaab, Somalia, with $70 milion.

7. Lashkar-e-Taiba, Pakistan, with $100 million.

6. Al-Qaeda, various countries in the Middle East, with $150 million.

5. The Taliban, Afghanistan, with $400 million.

4. Hezbollah, Lebanon, with $500 million.

3. Revolutionary Armed Forces of Colombia People’s Army, Colombia, with $600 million.

2. Hama, areas within the Gaza Strip, with $1 billion.

1. The Islamic State, Syria and Iraq, with $2 billion.

While sources aren’t sure where all the funding for these organisations come from, they believe that much of Hamas’ money comes from their ability to control imports through the Gaza strip via a series of tunnels that have been mostly destroyed by Egypt over the course of the last two years.

The Times of Israel also report that money from International donors like Qatar is also responsible for funding Hamas’ activities. People are also worried that cuts of the $4 billion sent to the Gaza strip for rehabilitation and relief efforts, have gone into fueling terrorist activities.

However Hamas’ funding is nothing compared to that of the Islamic State, which controls oil reserves in Iraq and Syria. They also gained control of Mosul’s bank earlier this year and stole over $400 million from the organisation. They also ransom hostages to fund their activities. With their vast wealth, the Islamic State makes it difficult for anti-terrorist groups to be effective when dealing with IS.

As reported by The Times of Israel by Giora Eiland, former head of Israel’s National Security Council, “The economic power that an organization like Islamic State has accrued is a threat to Western countries and moderate Arab states. However, in order for the financial activities to continue successfully it needs partnership with other states and bodies. IS, with all of the financial resources that it got its hands on, is dependent on the cooperation of a second party. Its oil, for example, it sells to Turkey, so in the end there is cooperation with it — and that is what is disturbing.”

Eiland is currently lobbying for sanctions to be taken against countries and organisations that do business with terrorist groups. Although it may seem like a small thing, it can go a long way to helping put an end to fueling international terror. For example, a New York court found Arab Bank was found guilty of 24 cases of supporting terrorism and is liable to pay damages, which will be decided in a second upcoming court case.

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