Islamic Interpretation of Dreams (Ibn-i Sirin):
(Banner; Woman) In general, flags in a dream represent leaders, governors, judges and scholars. Carrying a flag in a dream means signing a marriage contract.
A flag in a dream also means avoiding a dispute. Carrying a flag and a spear in a dream represents one’s death or the sudden death of his son.
A hoisted banner inside one’s house in a dream means a funeral. Carrying a flag in a dream also connotes a woman. Carrying a red flag in a dream also could represent an evil woman.
If it is a white flag, then it represents a pious and a chaste woman. Carrying a flag of many colors in a dream represents a corrupt woman.
If one is given a flag to carry, and if he leads a parade of colorful flags in his dream, it means that he will rise in station and receive honor.
To take a flag away from someone in a dream means removing him from office.
If one sees a black flag in a dream, it could represent an ominous woman.
A black flag in a dream also represents a man of knowledge.
A white flag in a dream represents jealousy.
A yellow flag represents an epidemic disease and a green flag means a journey by land.
(Also see Banner; Colors; Honor; Laurel)