IS to ‘mint own coins’

Published November 14, 2014
— AFP/File
— AFP/File

BEIRUT: The Islamic State group said on Thursday it would start minting its own gold, silver and copper coins for use in areas under IS control in Syria and Iraq. “God willing, coins of several types will be minted from gold, silver and copper,” the IS said in a statement.

The aim was to replace “the tyrannical currency system that was imposed on the Muslims, and which led to their oppression”.

The IS said its circulation of the new coins, to counter the widely-used US dollar, would free Muslims “from profiteering, satanical economic oppression”, and it posted pictures of what the coins would look like.

Also read: Islamic finance body picks up pace with new standards

On one side, the words 1 “Islamic State” and “a caliphate following the model of the Prophet (Mohammed)” are engraved, as well as the weight and value of the coin.

On the other, various symbols are used.

The five-dinar gold coin shows a world map, while the Al-Aqsa mosque in Jerusalem is portrayed on the silver 10-dirham coin.

The crescent is embossed on one of the copper coins, while three palm trees are engraved on another. Unlike the modern form of the dinar used today in some Muslim countries, the ancient dinars were made of pure gold and silver rather than less precious metals.—AFP

Published in Dawn, November 14th, 2014



Updated 22 May, 2022

Back in the game?

WITH the new government struggling to make crucial decisions independently, Pakistan’s ‘parallel governance...
22 May, 2022

Currency concerns

IN the midst of the power struggle in the country, the rupee slid past 200 to a dollar in the interbank market last...
Updated 22 May, 2022

Shireen Mazari’s arrest

Abuse of power can never be condoned, regardless of who it targets or from where it emanates.
Updated 21 May, 2022

Band-aid measure

A more pronounced impact would have been possible had the cap on energy prices been removed.
21 May, 2022

Bilawal’s defence

BILAWAL Bhutto-Zardari’s robust defence at the UN headquarters of former prime minister Imran Khan’s Feb 24 trip...
21 May, 2022

Yasin Malik’s conviction

THE conviction of veteran Kashmiri freedom fighter and head of the Jammu Kashmir Liberation Front Yasin Malik by an...