This Is How ISIS Makes Its Money

The extortion should be looked at closer as its also human trafficking, prostitution, penalties for being Christian or Shia, extortion for safe passage, extortion for the right to flee, and taking hostages.

Hawala as well can be used in money laundering. Its more or less like a money wiring transfer. Yet another example how the banking system can be exploited.

SPC Jenna Bisenius
So ISIL has been hit by SOF ten times at their money "storage" and "collection" sights since Oct 2015.
The most known hit took out their main bank and foreign currency storage facility in Mosul, took place Jan 11, 2016. This was their main foreign currency location. As a result these successive strikes have deprived them of cash to pay their fighter's and their fighter's salaries have been slashed in half. Forces are addressing the issue of ISIL operatives attempting to cross between Syria and Iraq as well as Jordan and Iraq, so the issue of money laundering is being addressed as far as transporting it in and out of the country.
The way they are attempting to manipulate the value of the Iraqi dinar is that they are declaring their own exchange rate inside their operating areas. The way this manipulation is forced is that ISIL sells their products for dollars, they pay their employees in dinars and then set a exchange rate higher than the official rate inside the areas they control forcing those who want dollars to pay them at the higher rate. (extortion)