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ISIS May Be Creating Its Own Currency

ISIS May Be Creating Its Own Currency

Syrian activist group Raqqa is Being Slaughtered Silently has tweeted pictures of coins that ISIS apparently plans to use as its own currency. Back in November, the “treasury department” of ISIS reportedly issued a statement on a jihadi forum about their plans to create a new currency. The coins show a world map, wheat stalks and the words “The Islamic State—a caliphate based on the doctrine of the Prophet” in Arabic. It’s unclear whether the coins are real, but economists have noted that it would be difficult for the group to create enough to replace the currencies in the areas they control. “The group could feasibly make as many gold, silver and copper coins as it wishes to, but the only value this so-called currency is going to have is the value of the precious metal itself,” Laith Alkhouri, director of MENA Research and Analysis at Flashpoint Global Partners told Mashable. “No country will ever recognize it as legitimate” …

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