ISIS Opens Private Bank For Loans And Damaged Currency Redemption in Mosul

Iraqi Dinar 123 News:– The ISIS or Islamic State in Iraq and Syria has announced that they have opened their own bank in the City of Mosul to provide loans and to compensate for mangled currency, in order to financing and to raise the business for terrorist organizations.

According to a website ‘Russia Today’, the ISIS has opened a private bank for providing grants and loans to restore marred currency; it also added that it might be an ISIS plan to control the funds in their occupied areas. It further added that the geographic expansion enabling the ISIS in expanding their business and getting strong grip economically by opening their own ‘Islamic bank’ in the city of Mosul.

This step is threatening the Iraqi people because this bank would be used to finance the business of terrorist organizations. According to some press reports, this bank is in the ISIS controlled area and due to high level of poverty in this area, people are more excited from these types of offers by the ISIS terrorist group as they offered loans and nothing in return. The Iraqi economic experts are discussing the impacts of establishing the ISIS bank. There is also a major problem that a large amount of Iraqi currency has been collected by the ISIS. More than four billion Iraqi dinars have been received by the Iraqi people as monthly salaries from the government of Iraq.

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