The Islamic State of Iraq and Syria: Return of the Caliphate?

In June, the Islamic State of Iraq and Syria (ISIS, also called ISIL) — a former al-Qaeda affiliate fighting against the Syrian government of Bashar al-Assad — declared itself simply the “Islamic State” (the IS).  Claiming to have reestablished the Caliphate (in Arabic: Khilafah) that existed from 632 AD until it was abolished in 1924 by Mustafa Kemal Ataturk, founder of the Turkish Republic, the IS controls large parts of Iraq including the city of Mosul and the predominantly Sunni areas abutting Syria, Saudi Arabia, and Jordan.  In addition, the IS has reportedly seized over $400 million looted from Mosul’s central bank, as well as gold bullion, in addition to potential oil revenues from fields in Syria and Iraq.  IS has applied a ruthless set of policies, seemingly designed both to demonstrate its ideological bona fides and to terrify its enemies: crucifixions and beheadings, forced conversion of Christians, and destruction of Islamic shrines.