
From the life of Hazrat Umar (ra) bin Khattab
According to most historians, Abdul Malik bin Marwan introduced the first Islamic coin. Some of the historians of Madinah have stated that the first Islamic coins were introduced in the era of Hazrat Umar (ra). They would have the words, “All praise belongs to Allah” inscribed on them and others had “Muhammad (sa) the Messenger of Allah” and “There is none worthy of worship except Allah, Who is One” inscribed on them, but they did not completely discard the coins used from the era of the Persian rulers.
According to a research, the first Islamic coins were introduced in 17 AH in Damascus during the era of Hazrat Umar (ra), but they would contain the image of the Byzantine kings and Latin inscription on them. According to another narration, it was in 28 AH during the era of Hazrat Uthman (ra) that a purely Islamic coin was used. Initially, in the Persian lands, their original coins were used and they would have the image of the Persian kings on them, but the words, “In the name of Allah”, would be inscribed on them in Kufic script.
(Al-Farooq, Shibli Naumani, p. 250, Idaara Islamiyaat, Karachi, 2004) (Justujoo-e-Madinah, p. 310, Abdul Hamid Qadri, Oriental Publications Pakistan)