ISIS Now Hiring Bankers: In Bid For Legitimacy, Rogue State Opens Bank
ZeroHedge
After seeking doctors, lawyers, and engineers, The Islamic State – expanding on its desire to launch a gold-backed currency – is reported to have opened its first bank in the Iraqi city of Mosul and delivered a budget for its ‘territory’. All this is being done, according to Al Jazeera, in an effort to move beyond its image of a terrorist organisation and consolidate its aim of becoming a legitimate state (perhaps stop beheading western media?)
“A strategy to make concrete decisions and actions to create a nation state is in place,” notes one professor, pointing out the ‘legitimacy’ of the Taliban government in Afghanistan as an example of ISIS’ roadmap.
But as one Mosul trader explains, “compared to past rulers, ISIS is a lot easier to deal with. Just don’t piss them off and they leave you alone.”
“Isis is dependent on its ability to seize territory and resources to continue funding its existing areas,” Sajad Jiyad, an independent researcher in Iraq says. “Its expansion is sometimes operated through affiliates who use the Isis brand but are in effect local mercenaries. It is as if Isis is financing itself partly through a pyramid scheme, and this has begun to falter.”
Basic services function poorly, but fear prevents anyone from speaking out. “Electricity, fuel, medicine, water are in low supply but people are surviving,” he says.
But as Al Jazeera reports, ISIS is seeking increased legitimacy as its own nation state…
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