- The Washington Times - Monday, January 5, 2015

Terrorists with the Islamic State say that when 2015 wraps, they’ll have an estimated $250 million left over from their $2 billion budget — and that the extra money will go to help fund their war against the West and western allies.

The group’s representatives said in an interview with Al-Araby Al-Jadeed that their $2 billion budget includes money for the poor, the disabled and for families of those who were killed during combat-related airstrikes from Iraqi fighters and U.S. soldiers. But plenty will be left over — and with that, the group has big plans to fund its fighting, United Press International reported.

At the same time, the Islamic State announced the opening of its own bank. Called the Islamic Bank, the operation actually makes loans, takes in deposits and exchanges, and replaces paper currencies that are no longer accepted or that are worn out, UPI said.

The Islamic State gets it money from oil, from raided weaponry sales and from taxes it imposes on various businesses and merchants, UPI said.

Fouad Ali, who studies armed resistance groups in Iraq, told the local news outlet that the projected $2 billion budget may actually be understated, but that the announcement of the bank and the budget may be little more than a propaganda tool to boost the credibility of the terrorist group.

• Cheryl K. Chumley can be reached at cchumley@washingtontimes.com.

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