Beirut: The Islamic State jihadist group says it will start minting its own gold, silver and copper coins for use in areas under IS control in Syria and Iraq.

"God willing, coins of several types will be minted from gold, silver and copper," the IS said in a statement distributed on jihadist forums on Thursday.

Not tyrannical: Proposed Islamic State coins. Credit:Twitter

The aim was to replace "the tyrannical currency system that was imposed on the Muslims, and which led to their oppression".

The IS group says its circulation of the new coins, to counter the widely used US dollar, will free Muslims "from profiteering, satanical economic oppression", and posted pictures of what the coins will look like.