In “Islamic State: Diary of life in Mosul”, a BBC Diary series of life in mosul, residents describe what life is like in the city since IS took over.

The northern Iraqi city of Mosul fell to so-called Islamic State (IS) in June, bringing the population under the harsh rule of the terrorist. The militants swiftly introduced a regime in accordance with their radical version of governing, including brutal punishments, strict rules for women and intolerance of any dissent.

The diarists introduce himself as “Faisal” which is not his real name to protect his identity wrote as BBC report: I washed and got ready to go to Friday prayers, and to hear the imam address the congregation.

In his Friday sermon, the imam spoke about the value of the gold dinar in the ancient eras of Islam and about how trade and economy flourished at the time.

“How can I use this new currency which is only recognized in IS territory?”

He said that a group of pious and highly religious men from IS had decided to mint a new gold coin and new coins made of silver and copper in addition to new paper notes which will be used in the markets in the near future.

He also said that another group of pious IS youth organized an advertising campaign to announce the use of the new currency.

The aim was to make the new Islamic dinar a force to be reckoned with against the US dollar used by the infidels, as the imam said, in what turned out to be the same sermon forced by IS on all the mosques.

I went home feeling worried and confused. I have business and bank accounts and bank dealings with other countries. How can I use this new currency which is only recognised in IS territory?!

The IS dinar was going to replace the official Iraqi currency and use of the dollar was going to be banned. I didn't know what to do, and I sat with a group of friends to discuss what would happen to our money and to our business.

Everybody agreed they would exchange the existing Iraqi currency for US dollars or for gold jewellery.

We all agreed that the IS plan was not religious or ideological as they said, but merely a scheme to rob us of our money and savings.

The next morning a state of chaos gripped the market as everybody was trying to exchange the Iraqi dinar and to buy dollars or gold.