https://finance.yahoo.com/news/sharia-goldbugs-isis-created-currency-205315776.html
As we learned in class, Abd al-Malik used coinage reform as a way to unite their territories. Centuries later, ISIS would create their own version of the dinar in an attempt to destabilize the US dollar. In 2015, ISIS was becoming wealthy off of oil sales to customers like the Iraqi government. However, all trade was being done in the US dollar. ISIS wanted to disassociate the US dollar with the oil business. ISIS decided to bring back the dinar, saying “The return of the ultimate measure of wealth for the world: gold – as the [caliphate] surges into the financial sphere.” Although the project was originally successful, after the US bombed many of ISIS-controlled oil fields, the value of the dinar plummeted.
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