ISIS Dinar Currency Banks
A series of gold coins seen here that the Islamic State (Isis) group introduced in order to replace the 'capitalist financial system'. Al-Hayat

According to reports, the Islamic State (Isis), often dubbed the richest ever terrorist group, is believed to be levying huge fines on civilians in Syria in an attempt to raise cash in US dollars after its own currency failed to gain strength. IS (Daesh) had previously claimed to launch their own currency to bring an end to what they termed America's capitalist financial system of enslavery.

The terrorist group's heavy reliance on the US dollar is what seems to have triggered the militants to demand fines for everything from smoking and traffic violations to repairing televisions and failing to attend prayers. The fines are to be paid off in only US dollars, and not Syrian pounds or its own currency termed as a "dinar".

IS is known to be one of the wealthiest terrorist groups with their excessive illegal oil sales and other channels of seeking revenue, namely money extortion, looting and reselling antiques. "Daesh (Isis) promoted the idea that it was hitting the US economy by issuing its own currency but the organisation on the ground is doing exactly the opposite, having built a financial system entirely dependent on the US dollar," said an undercover activist using the name Abu Mohammed, reported The Independent.

IS had announced the launch of its currency in a one-hour-long video titled 'The Rise of the Khilafah and the Return of the Gold Dinar' in August 2015. The group had said in a statement that its currency was created to help break the, "tyrannical monetary system that was imposed on the Muslims and was a reason for their enslavement and impoverishment, and the wasting the fortunes of the Ummah [the community of Muslims worldwide], making it easy prey in the hands of the Jews and Crusaders.

"One state, built on faith, rises to face this evil head-on, initiating a countdown to bring about the end of the petro-dollar system and the destruction of America itself...the capitalist financial system of enslavement, underpinned by a piece of paper called the Federal Reserve dollar note."