Is ISIS Creating Its Own Currency?

Is ISIS Creating Its Own Currency?


Having already created its own school system, police force and an amusement park for kids, the Islamic State (ISIS) may be taking the next step toward solidifying its makeshift caliphate: an Islamic currency.

Indeed, ISIS supporters on social media say that religious figures in Mosul and Iraq’s Nineveh province have decreed that the jihadi group will start using an ancient Islamic currency.

That currency is called the dinar, and it once strictly consisted of gold and silver coins. Today a variety of countries in the Muslim world use modern currencies that bear the same name, but the money is created from different materials. The ISIS dinar will allegedly revert back to the original gold and silver model.

Translation: “The Islamic caliphate will soon issue a currency from silver and gold. Soon your infidel economies will collapse.”

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