The Islamic State (Isis) militants have released a new video showing the terror group minting and distributing gold dinars, which it claims will be the new currency to save Muslims from the enslavement of 'satanic' US banks.

The Isis video titled "The Rise of the Khilafah and the Return of the Gold Dinar," was released on Saturday (29 August).

The hour-long video, which is available in several languages, is mainly addressed to its Muslim supporters and claims that it is an attempt to take the land back to the "golden" times of "Prophet Mohammad".

The high-quality video features a man speaking in English, narrating how the "US satanic banks" promote "the capitalist financial system of enslavement, underpinned by a piece of paper called the Federal Reserve dollar note."

The video also contains clippings from the Vietnam war and shows a graph on how US gold reserve depleted during the Vietnam war.

The group claims in the video that it will now trade oil only for gold.

Isis claims that it has followed to the principles of Caliph Abd al Malik ibn Marwan while minting the coins. Caliph Marwan introduced the first Arabic-script coinage in around 696 AD without any figural representation.

The new Isis currency comes in several denominations of silver gold and copper.  The group said its 21-carat one dinar coin weighs 4.25 grams, while the 21-carat five-dinar coin weighs 9.50 grams. Three denominations of silver dirhams and two of copper coins were minted for smaller transactions, it said.

The coins "are completely void of human and animal images in accordance with Shariah law." The reverse side of one Isis gold coin contains the figure of seven wheat stalks, "representing the blessing of spending in the path of Allah," says the narrator.

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While the coin is imprinted with a map of the world, "representing the extent of territory Mohammad's reign would reach, including Constantinople, Rome and America," and another contains a spear and shield "showing that the source of provision of Mohammad were from jihad in the name of Allah."

The later part of the video shows an Isis terrorist walking through the streets, presenting the newly-minted coins to shop keepers, armed men, and civilians with their smiling children.

The terrorist also explains to the people how the gold coins hold their value and how they are worth more than paper money in the bank. 

"We are witnessing the return of days, like those during the time of the prophet," says one shop keeper, hugging and kissing the Isis fighter.

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Isis first announced its plan to issue its own money in November, five months after it seized the northern Iraqi city of Mosul and its leader Abu Bakr al-Baghdadi announced a caliphate.

Baghdad-based economist Basim Jameel told Bloomberg that the announcement of shifting to a gold standard was nothing by an attempt to raise the morale of the Isis fighters, who suffered major setbacks in Iraq and Syria in recent months.

"Minting the coins is relatively easy," as there are several Mosul residents who have imported machines from Italy, which now are being used by Isis, Jameel said. The machines can mint around 5,000 coins a day, he added.