It's old, holed, and I think it's gold, but...

Is it a coin? Background: the picture is a scan, so you can't see the luster or the proper color. It was produced by scanning the reverse (yes the reverse) and using software to "flip" the image, this made a much more readable image than the obverse which was created from the incuse striking of the reverse (does that make sense). So, is it a coin and can anyone read the Arabic?
"It's far easier to fight for principles, than to live up to them." Adlai Stevenson
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Such imitation coins are a common feature of Middle Eastern culture - women who could not afford to adorn themselves with real gold coins would make do with these "substitutes".
Roman emperor Marcus Aurelius, "Meditations"
Apparently I have been awarded the DPOTD twice.