News Column

Report: ISIS steals $429m from central bank after capturing Mosul

June 13, 2014

Al-Qaeda-inspired militant group the Islamic State of Iraq and Syria (ISIS) stole $425 from Mosul's central bank after capturing the city this week, a senior official has claimed.

Mosul mayor and Nineveh governor Atheel al-Nujaifi said that ISIS militants had also stolen millions from numerous banks across Mosul as well as large quantities of gold bullion, news website

International Business Times

reported on Wednesday.

Such a large horde of wealth gives ISIS which is now believed

to be advancing

on Iraq's capital of Baghdad the dubious honor of being the "world's richest terror force," according to the website.

The group's latest haul puts them far ahead of similar militant Islamist groups, with Afghanistan'sTaliban trailing them with finances at around $70m - $400m, according to the news site.

The wealth of Lebanon's Shiite militant group Hezbollah, meanwhile, stands between $200m - $500m.The group's financially prudent decision to capture Iraq's second largest city makes them richer than richer than many small nations, including Tonga, Nauru and the Marshall Islands, according to the

Washington Post


Newly-minted ISIS will be able to "buy a whole lot of Jihad," prolific British blogger Eliot Higgins wrote on


. "For example, with $425 million, ISIS could pay 60,000 fighters around $600 a month for a year."

Since fleeing Mosul, Nujaifi has so far been vocal about the circumstances of its capture.

In a

separate interview

, he blamed three senior military figures as being responsible for the city's fall.

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Source: (United Arab Emirates)

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