A new report from International Christian Concern identifies an Islamic State financial network linking Somalia, Yemen and Afghanistan, warning that the system helps sustain operations aimed at Christian communities.
The report, The Khorasan Terrorism Economy: Islamic State’s Operations Against Christians, was written by ICC fellow Daniel St John. It says Islamic State Somalia transfers money to Islamic State Khorasan Province, or ISKP, the group’s Afghanistan-based branch, with Yemen functioning as an intermediary in the network.
According to the report’s account of United Nations findings, Islamic State Somalia provides ISKP with at least $25,000 a month in cryptocurrency. The U.N. Security Council document cited in the report says the group’s Al-Karrar financial office acted as a hub for transfers to affiliates and facilitated $25,000 in monthly cryptocurrency payments to ISIL-K.
St John’s report says the Al-Karrar office facilitates transactions to ISKP through Islamic State’s Yemen affiliate. It also links the Somalia and Yemen networks to weapons trafficking and the acquisition of unmanned aerial systems. The report cites U.S. Treasury and Australian government material identifying individuals involved in Islamic State weapons-smuggling operations connected to Yemen.
The report places the financial activity within a broader expansion of Islamic State Somalia. It says Abdul Qadir Mumin traveled to Yemen between January and March 2024 to expand recruitment, while recruits from Central Asia were moved toward Puntland. The network’s financial growth, the report argues, is tied to the group’s effort to support ISKP and extend its international reach.
Christians are described in the report as a specific ideological target, rather than incidental victims of attacks against civilians. It cites Islamic State propaganda calling for violence against Christians and reviews attacks and disrupted plots involving Christian churches in Turkey, including the January 2024 attack at Istanbul’s Santa Maria Church.
Among its recommendations, ICC urges governments to improve cryptocurrency investigations, strengthen intelligence sharing and examine how encrypted communications platforms are used by Islamic State networks. It also calls for coordinated operations against Islamic State Somalia’s revenue sources, including extortion, taxation and ransom payments. The U.N. document says Islamic State Somalia generated an estimated $100,000 a month through extortion and illicit taxation.