ISIS group to mint its own currency

ISIS group to mint its own currency

Sunni militants of the Islamic state group Islamic State of Iraq and Syria (ISIS) are planning to mint their own coins. The leader of the group has issued the order in which he has asked the organization to start minting coins, made up of different metals such as gold, silver and copper.

The gold dinar coins of the group appeared to have inscriptions and pictures of wheat on them. The copper coins feature a semi circular moon

The group wants to return to an ancient Islamic currency using gold and silver coins. Initially, the currency was established in 634AD by the Caliphate of Uthman.

On Thursday, a website related to the group said that Abu Bakr al-Baghdadi, the leader of Islamic State group, has ordered his followers to mint the coins to change the tyrannical monetary system based on Western economies and the new currency would take out the Islamic state from the tyrannical financial system imposed on Muslims.

The group has not revealed the related details, but as per newspapers if the plans are implemented, the currency will be introduced gradually.

The ISIS has also released an audio to oppose the reports that its leader may have died in a US-led air strike last week. The recording has referred to Barack Obama's decision to deploy an extra 1,500 troops to Iraq.

"One of the attributes of a state is that it issues its own currency. That defines you as a state at least in the eyes of your own people and perhaps in the eyes of others", said Mohsin Khan, a senior fellow at the Atlantic Council's Rafik Hariri Center for the Middle East.

As per the website, the group's Shura Council which is an advisory board, has approved the order.