Now Hiring: ISIL Searches for Qualified Specialists to Boost Economy

Novikov said ISIL gets most of its income from the sale of illegal oil reserves and by illegally charging energy transport corridors. Furthermore, the militants profit from illicit drug trade and the illegal sales of seized cultural property, Novikov said.

The Islamists purchase oil from middlemen and resell it to Syria and Turkey anonymously by using brokerages. This aspect of the ISIL economy has been affected by the recent change in the commodities market.

Kidnappings and ransom demands are also a source of revenue for ISIL. A number of British, Japanese, US, Iraqi, Syrian and other nationals have also been kidnapped through by the terrorist group. Some countries have paid for the release of their nationals, allowing the terrorists to generate income.

Earlier it was reported that ISIL's finances were not doing particularly well. The Caliphate struggled to keep its promises made last year when its leaders said that nobody will ever be poor while living in the Islamic State. Currently, people living under the reign of ISIL are suffering from high unemployment, lack of money, rising inequality and high taxes.