My guess is that it's a token. A further guess is that its an Egyptian token. Is it the same on both sides?
Dated 1356AH (1937CE), with a denomination of 1 something. There is also a small 5 at about 2:00 (if it is rotated slightly counter-clockwise to center the date at the bottom), which might be a regnal year, making the true date 1360AH (1941CE). That ascension date doesn't fit with Egypt, Afghanistan, or a half-dozen other Islamic countries I checked, but there are many more, and I'm too lazy to go through the entire 20th Century volume of the SCWC looking for the coin, so we probably need to wait for someone who can read Arabic to tell us what the piece says. My gut tells me it is a coin, very possibly a Dirham, Rupee, or Piastre, not a mil, milleme, etc.
