Don: Use paper currency, not gold dinar

Sources : http://biz.thestar.com.my/news/story.asp?file=/2011/1/18/business/7817150&sec=business"
Tuesday January 18, 2011


Don: Use paper currency, not gold dinar


KUALA LUMPUR: Islamic countries should continue to use paper currency instead of gold dinar, said professor of comparative economic history at International Centre for Education in Islamic Finance Dr Murat Cizakca.


History had shown that the return to coinage system could increase interest rates and inflation would be difficult to control, he said.


Speaking at a public lecture on Islamic Gold Dinar: Myths and Reality organised by Association of Chartered Islamic Finance Professionals and Inceif yesterday, he said money should serve as a medium of exchange, not as a commodity.


“We need to continue with paper currency, and the central banks controlling paper currency should have full autonomy,” he said.


He added that gold supply was dominated by non-Islamic countries.


“The gold dinar will be exposed to speculation as the gold price also has its ups and downs. Islamic countries should continue to use paper currency and increase trade among each other,” he said. - Bernama


-------------------------------------------------------------------------------------
My opinion, well, is there is a hidden agenda.. we should give full support if this what Islam has taught us.. Even Prophet has said something about dinar and dirham, when someday there will be nothing that valuable except dinar and dirham.. I had put the Hadis in my blog.. look for it.. that is our Prophet says.. you don't want to believe what he says.. better recite your syahadah.. enough said.. up to you guys.. I still believe to what had Prophet Muhammad PBUH said.. because I am believer.. till then.. salam..