On 7 November 2014 a tweet appeared in which was suggested that ISIL was going to introduce its own coins. Apparently in the beginning only leaders were allowed to use the coins. In the days after this first report the news got more and more attention as several religious leaders from Iraq announced the news in their prayers and asked the people to start using silver and gold as a form of payment. It became clear that ISIL's coins were going to be made out of gold and silver. One week later the first images were published following a statement by ISIL. On the radio, people tried to convince the listeners to start using the new coins. Furthermore flyers were handed out to the public and banners
appeared on the streets. It became clear that 2 copper coins, that had not been mentioned before, were also part of ISIL's coin series.
The pieces were a kind of re-introduction of the silver dirham and gold dinar, an ancient Islamic currency. The dirham and dinar are these days still being used as circulating coins in several middle-eastern countries but are no longer made out of precious metals. They wanted to introduce these coins to improve their economy. The idea to reintroduce the silver dirham and gold dinar is not new, in 2010 Muslims in Kelantan in Malaysia also tried to re-introduce that currency. Furthermore an attempt was done in Afghanistan. Both attempts were unsuccessful in the long term. ISIL also finds that their gold currency is better than paper money that is being used by other countries.
According to experts things like having an own currency, flag etc. should be seen as ways to define oneís territory rather than a serious attempt to separate from the global economy. ISIL considers itself as a worldwide caliphate, something that is represented on the 5 Dinar piece. It is unknown to what extent these pieces are being used for transactions. There is at least 1 bank in Mosul that accepts them. On 27 September 2015 ISIL banned the use of Syrian banknotes of 500 and 1000 pounds. Some say this was done to increase the use of the new coins.