The Islamic State (ISIS) announced plans to begin minting its own currency on Thursday. The terrorist organization gave specifics to SITE Intelligence Group, an organization that monitors the jihadist threat. ISIS told SITE the new currency, minted in gold, silver and copper, will remove Muslims from the "satanic usury-based global economic system." The currency was created by Abu Bakr al-Baghdadi, the organization's leader. The terrorist group's statement on the matter, translated by SITE, reads:
Based on the directive of the Emir of the Believers in the Islamic State, Caliph Ibrahim, may Allah preserve him, to mint current for the Islamic State, as it is far removed from the tyrannical monetary system that was imposed on the Muslims and was a reason for their enslavement and impoverishment, and the wasting the fortunes of the Ummah, making it easy prey in the hands of the Jews and Crusaders, the Treasury Department studied the matter and presented a comprehensive project, by the grace of Allah, to mint a currency based on the inherent value of the metals gold and silver.
Within the gold currency, there are two coins: one dinar with a symbol of seven wheat stalks and five dinar with a symbol of a world map. Within silver, three coins: one dirham symbolized with a spear and shield, five dirhams with a white minaret of Damascus and 10 dirhams with the al-Aqsa mosque. For the copper currency, one 10 fils coin has a crescent while another 10 fils coin has a palm tree. It is unclear how ISIS plans to mint the currency at this time, but ISIS has said its Treasury Department will "organize the minting, how to obtain the money, its value, and the relationship between its different categories and how to deal with it."
In regards to the conversion rate, Adam Raisman at SITE told Newsweek, "IS stated it’s based on the 'inherent' value of gold and silver, and named the various denominations. It’s not known based on the statement how their Dinar converts to Dinars in other Islamic countries."
In addition to sending information regarding currency, ISIS provided SITE with an audio recording of al-Baghdadi, in an attempt to prove the jihadist leader is alive after airstrikes that were thought to have injured him.