Inside Raqqa: How ISIS used its own currency to profit from war

For the years it wreaked havoc in cities like Raqqa and Mosul, ISIS made sure to use its own currency, the dinar and dirham, in order to impose not only its hand on the economy but reap the profits of war.

The militant group announced in November 2014 that it was reinstated the golden dinar and silver dirham in areas it controlled as it wanted to free Muslims from the “satanic global economic system”.

But according to several reports, the dinar itself was directly linked to gold prices originally tied to the dollar in world markets valued at $150.

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Last Update: Wednesday, 20 May 2020 KSA 09:57 - GMT 06:57
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