Home / currency / Islamic State declared the launch of its own currency in 2015

Islamic State declared the launch of its own currency in 2015

 

Islamic State declared the launch of its own currency in 2015.
The IS decree made no mention of a ban on the 500 Syrian pound note.
The announcement, circulated in an audio statement on Islamic State-run messaging platforms, said two Syrian banknotes – the 1,000 pound note and 50 pound note – would be banned in the areas it controls as of July 25.
BEIRUT/CAIRO – Islamic State ordered shopkeepers and traders to price goods in its currency, the dirham, as of Tuesday and set the value at 1,000 Syrian pounds ($1.80) per dirham, seeking to steer its own monetary policy even as its territorial grip is shaken.
It said exchange rates for the IS currency would be declared on a daily basis.

as mentioned in

Islamic State makes shops to treate its currency next its successive defeats

Islamic State currency

It is noteworthy, radical State group has lost territory in Syria and Iraq, and is now besieged inside its de-facto capital, Raqqa.
However, it did not mention the ban of the Syrian 500 pounds currency.
The Islamic State issued the order through a voice message, forbidding the exchange of Syrian currency of the 1,000 and 50 pounds category in the IS-held areas starting the 25th of July.
Furthermore, it is believed that the Islamic State has transferred its elite leaders to the city of Mayadin, located southeast of Raqqa, near Iraqi borders in Deir Ezzor Province.
Raqqa (Syria News) The Islamic State group ordered merchants and traders to start using the group’s currency, while set the value of the IS Dirham at 1,000 Syrian pounds ($ 1.80), in order to impose its monetary policy despite its successive defeats, Alsumaria News reported on Wednesday.

as mentioned in

Islamic State makes Syrian businesses to treat with its currency

Islamic State  currency

In an attempt to assert its own monetary policy, the Islamic State has decreed that traders use its currency, the dirham, setting its value at 1,000 Syrian pounds ($1.80) per dirham.
The announcement comes at a time when the IS has found its grip on the territory under its control under threat.
In an audio statement, the IS said the Syrian 1,000- and 50-pound notes would be banned in the areas under its control as of July 25, Reuters reported.
The exchange rate for the IS’s currency will be declared daily, Reuters reported.

 

collected by :Donald Luther

Check Also

Remote supports that hedge against monetary forms picture-13568-310x165

Remote supports that “hedge” against monetary forms

These are funds that “hedge” against currencies, while the other group lets investors feel their …