The Islamic State, a hardline Sunni jihadist group that formerly had ties to al Qaeda, has conquered large swathes of Iraq and Syria. Previously known as the Islamic State of Iraq and Syria (ISIS), the group has announced its intention to reestablish the caliphate and has declared its leader, the shadowy Abu Bakr al-Baghdadi, as the caliph.

The lightning advances the Islamic State made across Syria and Iraq in June shocked the world. But it's not just the group's military victories that have garnered attention — it's also the pace with which its members have begun to carve out a viable state.

Flush with cash and US weapons seized during its advances in Iraq, the Islamic State's expansion shows no sign of slowing down. In the first week of August alone, Islamic State fighters have taken over new areas in northern Iraq, encroaching on Kurdish territory and sending Christians and other minorities fleeing as reports of massacres emerged.