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
Pandangan aku, Profesor tu macam tak percaya dengan kata-kata Nabi aje. Memang betul penggunaan emas akan terdedah pada spekulasi macam duit kertas tapi setidak-tidak nya aku percaya emas akan kekal sampai kiamat. Nak mudah faham cam ni la, aku berani gerenti emas akan wujud sampai kiamat. Pasal apa? Emas disebut dalam Al-Quran. So, mesti kekal la, kalau tidak generasi akan datang tak kenal rupa emas. Sama juga dengan binatang yang disebut dalam Al-Quran mesti takkan "extinct", nanti orang yang baca Al-Quran tak faham pulak binatang apa yang disebut oleh Allah dalam Quran. Contohnya tak salah aku ialah Nyamuk, lebah, ikan paus, lembu etc. So, berbalik pada penggunaan dinar & dirham. Dua logam ni dalam Islam memang diberi penekanan keatas dua logam ni. Siap ada zakat keatas logam emas yang disebut dengan jelas dalam Quran. So, tak rugi kot kalau simpan dinar & dirham. Kalau simpan duit kertas, silap haribulan kena makan dek cik Lipas. So, aku rasa aku lebih prefer simpan emas dan simpan duit kertas.
Showing posts with label dirham. Show all posts
Showing posts with label dirham. Show all posts
Monday, August 1, 2011
Sunday, May 29, 2011
Dinar Dirham: KGT sasar 20 ribu kedai
KOTA BHARU, 28 Mei: Kelantan Golden Trade (KGT) mensasarkan 20,000 peniaga yang berminat menerima urusniaga Dinar dan Dirham bagi menyemarakkan penggunaan mata wang syariah.
Pengarah Eksekutif KGT Nik Mahani Mohamad berkata, tindakan proaktif itu bagi mempopularkan semula penggunaan mata wang syariah di kalangan umat Islam.
“Untuk 2011 kami target pendaftaran 20,000 kedai termasuk kedai kepunyaan non-muslim yang sedia menerima Dinar dan Dirham sebagai mata wang syariah.
“Dan diharap ia menjadi pencetus kepada pembayaran gaji kakitangan kerajaan, pembayaran zakat dan aktiviti jual beli rakyat menggunakan Dinar dan Dirham” katanya pada persidangan media sempena Kempen Dinar Emas Kelantan 2011 di sebuah hotel di sini semalam.
Turut hadir Ketua Pegawai Operasi KGT, Umar Ibrahim Vadillo. Sekarang lebih 2,000 pekedai berdaftar dengan KGT di seluruh Malaysia.
Nik Mahani juga berkata, KGT kini berusaha menyemarakkan lagi penggunaan mata wang syariah, di mana telah dimulakan kempen sejak dua bulan lalu di Kuala Lumpur.
“Di samping mendekati rakyat, program itu juga dilaksanakan sempena pelancaran Projek Printis Pasar Terbuka Pasar Besar Siti Khadijah di Kelantan,” ujarnya.
KGT juga melancarkan Khidmat Sistem Pesanan Ringkas (SMS) bagi memudahkan pengguna mengetahui harga harian Dinar dan Dirham pada sepanjang tahun.
Selain itu KGT turut menyertai Karnival Halal Kelantan 2011 yang akan dirasmikan Tengku Mahkota Kelantan pada 29 Mei di Balai Islam.
sumber :http://bm.harakahdaily.net/index.php/separator-berita-utama/world/83-negeri-kelantan/3520-dinar-dirham-kgt-sasar-20-ribu-kedai-
Pengarah Eksekutif KGT Nik Mahani Mohamad berkata, tindakan proaktif itu bagi mempopularkan semula penggunaan mata wang syariah di kalangan umat Islam.
“Untuk 2011 kami target pendaftaran 20,000 kedai termasuk kedai kepunyaan non-muslim yang sedia menerima Dinar dan Dirham sebagai mata wang syariah.
“Dan diharap ia menjadi pencetus kepada pembayaran gaji kakitangan kerajaan, pembayaran zakat dan aktiviti jual beli rakyat menggunakan Dinar dan Dirham” katanya pada persidangan media sempena Kempen Dinar Emas Kelantan 2011 di sebuah hotel di sini semalam.
Turut hadir Ketua Pegawai Operasi KGT, Umar Ibrahim Vadillo. Sekarang lebih 2,000 pekedai berdaftar dengan KGT di seluruh Malaysia.
Nik Mahani juga berkata, KGT kini berusaha menyemarakkan lagi penggunaan mata wang syariah, di mana telah dimulakan kempen sejak dua bulan lalu di Kuala Lumpur.
“Di samping mendekati rakyat, program itu juga dilaksanakan sempena pelancaran Projek Printis Pasar Terbuka Pasar Besar Siti Khadijah di Kelantan,” ujarnya.
KGT juga melancarkan Khidmat Sistem Pesanan Ringkas (SMS) bagi memudahkan pengguna mengetahui harga harian Dinar dan Dirham pada sepanjang tahun.
Selain itu KGT turut menyertai Karnival Halal Kelantan 2011 yang akan dirasmikan Tengku Mahkota Kelantan pada 29 Mei di Balai Islam.
sumber :http://bm.harakahdaily.net/index.php/separator-berita-utama/world/83-negeri-kelantan/3520-dinar-dirham-kgt-sasar-20-ribu-kedai-
Tuesday, February 8, 2011
Perak perkenal dinar emas, dirham akhir bulan depan
January 25, 2011
IPOH, 25 Jan — Kerajaan Perak akan memperkenalkan mata wang dinar emas dan dirham pada akhir bulan depan bertujuan mempelbagaikan bentuk simpanan kewangan rakyat.
Pengerusi Jawatankuasa Pelajaran, Pengajian Tinggi, ICT, Sumber Manusia, Sains dan Teknologi negeri Datuk Mohamad Zahir Khalid berkata Perak sedang bekerjasama dengan Kuwait Finance House (KFH) untuk memperkenalkan dinar emas dan dirham kerana institusi kewangan itu berpengalaman luas dalam aspek pengendalian mata wang berkenaan.
“Apa yang pasti mata wang (dinar emas dan dirham) diperkenalkan Perak amat jauh berbeza dengan mata wang yang diperkenalkan Kelantan sebelum ini. Perbezaan itu akan dijelaskan oleh Menteri Besar (Datuk Seri Dr Zambry Abdul Kadir) nanti,” katanya kepada pemberita selepas mempengerusikan mesyuarat bersama pihak pengurusan tertinggi KFH di sini hari ini.
Segala perincian, mekanisme serta bentuk mata wang berkenaan akan diumumkan pada pelancaran itu nanti, kata Mohamad Zahir.
Dinar emas dan dirham itu akan dikeluarkan Goldnet International Sdn Bhd, anak syarikat Perbadanan Kemajuan Negeri Perak (PKNP) dengan kerjasama KFH (Malaysia) Sdn Bhd.
Pengerusi KFH Shaheen al Ghanem berharap hubungan yang terjalin termasuk dalam aspek nasihat kewangan serta sokongan dalam pengeluaran bantuan modal dengan kerajaan negeri dapat diteruskan pada masa depan.
“Kami juga sebenarnya dalam proses untuk melebarkan sayap perniagaan ke seluruh Malaysia dan sedang melihat kemungkinan mewujudkan cawangan di Ipoh pada masa terdekat kerana berpuas hati dengan inisiatif pembangunan yang ditunjukkan kerajaan negeri,” katanya. — Bernama
Sumber : http://www.themalaysianinsider.com/bahasa/article/perak-perkenal-dinar-emas-dirham-akhir-bulan-depan/
IPOH, 25 Jan — Kerajaan Perak akan memperkenalkan mata wang dinar emas dan dirham pada akhir bulan depan bertujuan mempelbagaikan bentuk simpanan kewangan rakyat.
Pengerusi Jawatankuasa Pelajaran, Pengajian Tinggi, ICT, Sumber Manusia, Sains dan Teknologi negeri Datuk Mohamad Zahir Khalid berkata Perak sedang bekerjasama dengan Kuwait Finance House (KFH) untuk memperkenalkan dinar emas dan dirham kerana institusi kewangan itu berpengalaman luas dalam aspek pengendalian mata wang berkenaan.
“Apa yang pasti mata wang (dinar emas dan dirham) diperkenalkan Perak amat jauh berbeza dengan mata wang yang diperkenalkan Kelantan sebelum ini. Perbezaan itu akan dijelaskan oleh Menteri Besar (Datuk Seri Dr Zambry Abdul Kadir) nanti,” katanya kepada pemberita selepas mempengerusikan mesyuarat bersama pihak pengurusan tertinggi KFH di sini hari ini.
Segala perincian, mekanisme serta bentuk mata wang berkenaan akan diumumkan pada pelancaran itu nanti, kata Mohamad Zahir.
Dinar emas dan dirham itu akan dikeluarkan Goldnet International Sdn Bhd, anak syarikat Perbadanan Kemajuan Negeri Perak (PKNP) dengan kerjasama KFH (Malaysia) Sdn Bhd.
Pengerusi KFH Shaheen al Ghanem berharap hubungan yang terjalin termasuk dalam aspek nasihat kewangan serta sokongan dalam pengeluaran bantuan modal dengan kerajaan negeri dapat diteruskan pada masa depan.
“Kami juga sebenarnya dalam proses untuk melebarkan sayap perniagaan ke seluruh Malaysia dan sedang melihat kemungkinan mewujudkan cawangan di Ipoh pada masa terdekat kerana berpuas hati dengan inisiatif pembangunan yang ditunjukkan kerajaan negeri,” katanya. — Bernama
Sumber : http://www.themalaysianinsider.com/bahasa/article/perak-perkenal-dinar-emas-dirham-akhir-bulan-depan/
Thursday, January 20, 2011
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..
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..
Wednesday, January 19, 2011
Kelantan, Malaysia: Embracing Shariah currency
Kelantan, Malaysia: Embracing Shariah currency
By The Halal Journal published Yesterday
Original Article Source: The Halal Journal Jan/Feb 2011
By Abdalghany Aoueskhanov
The historic launch of the Gold Dinar and Silver Dirham, also known as “Shariah Currency”, on 12 August 2010 (2 Ramadhan 1431H) by the Kelantan Sultanate in Malaysia was indeed historic. On that day, the people of Kelantan embraced Sunna Money by free choice. The introduction of bi-metallic currency in this north-eastern Malaysian state was a resounding success as it proved once again that when people are given freedom to choose their money, they choose gold and silver.
The dinars and dirhams of Kelantan were sold out quickly: the first batch worth RM2 million was sold out before the end of Ramadhan prompting Kelantan Golden Trade, the state company in charge of minting and distributing the coins, to restrict the selling of silver dirhams to only those who wanted to pay Zakat with it. Payment of Zakat with gold and silver coins, not promissory notes, is the restoration of the third pillar of the Deen and fulfilment of the most important obligation after Solat (prayers).
After Ramadhan, the Kelantan government increased the budget for the second batch to RM4 million and it too was sold out completely. The third batch worth RM6 million is now in the process of being minted and will arrive in Kuala Lumpur, Malaysia, in a matter of days.
The Islamic coins of the Kelantan Sultanate were minted according to the latest international standard of the World Islamic Mint (WIM) [read more on WIM on page xx].
The news of the launch of Shariah Currency in Kelantan on 12 August broke out all over the world, and almost all major international media and news agencies highlighted the event. Most significantly, Kelantan’s brave call for freedom resonated among all those who wanted to throw off the evil chains of Usury. Muamalah Council Malaysia’s news centre received emails from numerous individuals, Muslims and otherwise, from around the globe congratulating the government and people of Kelantan and expressing their excitement and solidarity. These are just a few of those letters:
“I am a Christian, but I share your enthusiasm for your people ridding themselves of the control of corrupt, interest-stealing, money-debasing bankers.
Good luck in your endeavours.
God bless,
David Rogers (Canada)”
“I am not a Muslim but I am very proud of your decision to accept "honest" money. The best of luck to you and remember that each minted precious metal coin is one step further away from the tyranny of the modern banking system. I applaud your decision to promote the protection of "the little person", gold and silver are freedom and you are promoting pure freedom from the chains that bind the world. Thank you for starting the revolution towards true economic freedom.
Thank you from Greece,
Christofer Chalukidi”
Wakala Induk Nusantara (WIN), the only accredited minter and distributor of dinars and dirhams by the World Islamic Mint (WIM) in Indonesia, has started to phase out the existing coins in circulation, which were minted according to the old standard of WIM, and replaced them with the new standard coins. “Within the first half of next year, we’ll complete the transition to the new standard that will give our customers added value coins not only due to improved quality and enhanced counterfeit level, but most importantly, 1:1 ratio exchange with other coins in the region,” said Zaim Saidi, Director of WIN and the leader of the biggest dinar movement in the world. WIN is already using WIM stickers stating “We Accept Dinar and Dirham” within its network of shops and traders, called “Jawara”.
Muslim communities in Europe, Australia and the United States are starting to distribute WIM coins within their communities. This year saw the launch of the much-awaited project, Dinar People – a new online marketplace and directory where Dinar users and supporters can meet like-minded people from around the world. This network serves as a real-time virtual open marketplace where anybody can communicate, interact and initiate commerce with other members.
The government of Pakistan plans to hold its first international forum on Gold Dinar next year. And in June 2011, there will be the 2nd World Conference on Riba, to be hosted by Nigeria, the country where the Gold Dinar movement promises to explode next (The 1st World Conference on Riba was held in Kuala Lumpur, Malaysia, on 1-2 November, 2010. Read about it on page xx).
Going back to the Malaysian state of Kelantan, more than 1,500 shops and business outlets are already accepting Shariah Currency, and, according to the CEO of Kelantan Golden Trade (KGT), Umar Ibrahim Vadillo, next year, it is expected that 20,000 shops in the state of Kelantan alone will be accepting the Islamic medium of exchange. Customers can identify these shops by the sticker “We Accept Dinar and Dirham” issued universally by the WIM, World Islamic Mint. The list of shops and Wakalas (agencies appointed by Kelantan Government to sell the coins) can be viewed on KGT’s website: www.dinarkel.com.
In 2011, the government of Kelantan will introduce Wadiah institutions that will provide safe-keeping service and also act as Wakala to facilitate payment operations upon instruction of its clients. The Kelantan Wadiahs are fully developed and endorsed by WIM. Along with Wadiahs, Malaysians will be introduced to an SMS service that will allow them to know the real-time price of dinar and dirham daily by automatic SMS update; subscription to this service must be renewed annually.
These will be the first localised Wadiahs in modern history that are 100 per cent Shariah-compliant (e-Dinar being the first international Wadiah) and Kelantan’s model will be replicated throughout Malaysia and the world, creating a multitude of local repositories plugged in the single data base, e-Dinar.
Early 2011, the Gold Dinar Cooperative will be set up with headquarters in Kuala Lumpur. The cooperative will register Halal money users nationwide and mobilise them into a social movement for economic freedom. Under the cooperative, there will be conducted activities such as training programmes, seminars, publications, and information bureau. The registration has already started, and enquiries can be made to zahimi@al-qafilahinternational.com.This e-mail address is being protected from spambots. You need JavaScript enabled to view it
Since 12 August 2010, the silver dirham appreciated vis-à-vis the Ringgit by 45 per cent and the gold dinar by 10 per cent in November 2010. Anybody interested to obtain Kelantan dinars and dirhams can do so at Nubex Sdn Bhd (www.nubex.com.my), the official distributor for Kelantan Golden Trade in Kuala Lumpur.
The price of dinar and dirham can be viewed 24 hours live at the official websites of the World Islamic Mint: www.islamicmint.com (in USD and EUR) or www.islamicmint.com.my (in MYR).
*About the Author: An economist by training, Abdalghany is a free-lance researcher and writer for various Malaysian NGOs and media publications with the scope of interests ranging from consumerism and health care to economics and geopolitics, writing articles in both, Russian and English. Vast work experience and extensive research led Abdalghany to the conclusion: paper money is the biggest injustice of modern times. In the past seven years, he was actively involved in a number of projects related to the restoration of Islamic currency – Gold Dinar and Silver Dirham. He was instrumental in the organisation of the launch of the Islamic currency in the state of Kelantan on 12 August 2010. He is currently the editor of the website and newsletter of Muamalah Council Malaysia – a non-profit organisation dedicated to disseminating the knowledge on sound money to Malaysian public.
sources : "http://www.halaljournal.com/article/5385/kelantan,-malaysia:-embracing-shariah-currency"
By The Halal Journal published Yesterday
Original Article Source: The Halal Journal Jan/Feb 2011
By Abdalghany Aoueskhanov
The historic launch of the Gold Dinar and Silver Dirham, also known as “Shariah Currency”, on 12 August 2010 (2 Ramadhan 1431H) by the Kelantan Sultanate in Malaysia was indeed historic. On that day, the people of Kelantan embraced Sunna Money by free choice. The introduction of bi-metallic currency in this north-eastern Malaysian state was a resounding success as it proved once again that when people are given freedom to choose their money, they choose gold and silver.
The dinars and dirhams of Kelantan were sold out quickly: the first batch worth RM2 million was sold out before the end of Ramadhan prompting Kelantan Golden Trade, the state company in charge of minting and distributing the coins, to restrict the selling of silver dirhams to only those who wanted to pay Zakat with it. Payment of Zakat with gold and silver coins, not promissory notes, is the restoration of the third pillar of the Deen and fulfilment of the most important obligation after Solat (prayers).
After Ramadhan, the Kelantan government increased the budget for the second batch to RM4 million and it too was sold out completely. The third batch worth RM6 million is now in the process of being minted and will arrive in Kuala Lumpur, Malaysia, in a matter of days.
The Islamic coins of the Kelantan Sultanate were minted according to the latest international standard of the World Islamic Mint (WIM) [read more on WIM on page xx].
The news of the launch of Shariah Currency in Kelantan on 12 August broke out all over the world, and almost all major international media and news agencies highlighted the event. Most significantly, Kelantan’s brave call for freedom resonated among all those who wanted to throw off the evil chains of Usury. Muamalah Council Malaysia’s news centre received emails from numerous individuals, Muslims and otherwise, from around the globe congratulating the government and people of Kelantan and expressing their excitement and solidarity. These are just a few of those letters:
“I am a Christian, but I share your enthusiasm for your people ridding themselves of the control of corrupt, interest-stealing, money-debasing bankers.
Good luck in your endeavours.
God bless,
David Rogers (Canada)”
“I am not a Muslim but I am very proud of your decision to accept "honest" money. The best of luck to you and remember that each minted precious metal coin is one step further away from the tyranny of the modern banking system. I applaud your decision to promote the protection of "the little person", gold and silver are freedom and you are promoting pure freedom from the chains that bind the world. Thank you for starting the revolution towards true economic freedom.
Thank you from Greece,
Christofer Chalukidi”
Wakala Induk Nusantara (WIN), the only accredited minter and distributor of dinars and dirhams by the World Islamic Mint (WIM) in Indonesia, has started to phase out the existing coins in circulation, which were minted according to the old standard of WIM, and replaced them with the new standard coins. “Within the first half of next year, we’ll complete the transition to the new standard that will give our customers added value coins not only due to improved quality and enhanced counterfeit level, but most importantly, 1:1 ratio exchange with other coins in the region,” said Zaim Saidi, Director of WIN and the leader of the biggest dinar movement in the world. WIN is already using WIM stickers stating “We Accept Dinar and Dirham” within its network of shops and traders, called “Jawara”.
Muslim communities in Europe, Australia and the United States are starting to distribute WIM coins within their communities. This year saw the launch of the much-awaited project, Dinar People – a new online marketplace and directory where Dinar users and supporters can meet like-minded people from around the world. This network serves as a real-time virtual open marketplace where anybody can communicate, interact and initiate commerce with other members.
The government of Pakistan plans to hold its first international forum on Gold Dinar next year. And in June 2011, there will be the 2nd World Conference on Riba, to be hosted by Nigeria, the country where the Gold Dinar movement promises to explode next (The 1st World Conference on Riba was held in Kuala Lumpur, Malaysia, on 1-2 November, 2010. Read about it on page xx).
Going back to the Malaysian state of Kelantan, more than 1,500 shops and business outlets are already accepting Shariah Currency, and, according to the CEO of Kelantan Golden Trade (KGT), Umar Ibrahim Vadillo, next year, it is expected that 20,000 shops in the state of Kelantan alone will be accepting the Islamic medium of exchange. Customers can identify these shops by the sticker “We Accept Dinar and Dirham” issued universally by the WIM, World Islamic Mint. The list of shops and Wakalas (agencies appointed by Kelantan Government to sell the coins) can be viewed on KGT’s website: www.dinarkel.com.
In 2011, the government of Kelantan will introduce Wadiah institutions that will provide safe-keeping service and also act as Wakala to facilitate payment operations upon instruction of its clients. The Kelantan Wadiahs are fully developed and endorsed by WIM. Along with Wadiahs, Malaysians will be introduced to an SMS service that will allow them to know the real-time price of dinar and dirham daily by automatic SMS update; subscription to this service must be renewed annually.
These will be the first localised Wadiahs in modern history that are 100 per cent Shariah-compliant (e-Dinar being the first international Wadiah) and Kelantan’s model will be replicated throughout Malaysia and the world, creating a multitude of local repositories plugged in the single data base, e-Dinar.
Early 2011, the Gold Dinar Cooperative will be set up with headquarters in Kuala Lumpur. The cooperative will register Halal money users nationwide and mobilise them into a social movement for economic freedom. Under the cooperative, there will be conducted activities such as training programmes, seminars, publications, and information bureau. The registration has already started, and enquiries can be made to zahimi@al-qafilahinternational.com.This e-mail address is being protected from spambots. You need JavaScript enabled to view it
Since 12 August 2010, the silver dirham appreciated vis-à-vis the Ringgit by 45 per cent and the gold dinar by 10 per cent in November 2010. Anybody interested to obtain Kelantan dinars and dirhams can do so at Nubex Sdn Bhd (www.nubex.com.my), the official distributor for Kelantan Golden Trade in Kuala Lumpur.
The price of dinar and dirham can be viewed 24 hours live at the official websites of the World Islamic Mint: www.islamicmint.com (in USD and EUR) or www.islamicmint.com.my (in MYR).
*About the Author: An economist by training, Abdalghany is a free-lance researcher and writer for various Malaysian NGOs and media publications with the scope of interests ranging from consumerism and health care to economics and geopolitics, writing articles in both, Russian and English. Vast work experience and extensive research led Abdalghany to the conclusion: paper money is the biggest injustice of modern times. In the past seven years, he was actively involved in a number of projects related to the restoration of Islamic currency – Gold Dinar and Silver Dirham. He was instrumental in the organisation of the launch of the Islamic currency in the state of Kelantan on 12 August 2010. He is currently the editor of the website and newsletter of Muamalah Council Malaysia – a non-profit organisation dedicated to disseminating the knowledge on sound money to Malaysian public.
sources : "http://www.halaljournal.com/article/5385/kelantan,-malaysia:-embracing-shariah-currency"
The Origins of Paper Money – Part Two: Monetary System in the Islamic World
The Origins of Paper Money – Part Two: Monetary System in the Islamic World
By The Halal Journal published 7 months ago
Original Article Source: The Halal Journal Mar/Apr 2008
How did money as a medium of exchange for foods and services evolve into its current form we know and use today? Hazel Hassan Hisham transports us back into time and traces its origins in this second of a two-part article that chronicles the evolution of paper money.
The first Muslim coins were struck during the Caliphate of Uthman (ra), 644-656 CE. The first original minting of Islamic dirham was done in 695 CE (75 AH) during the reign of Khalifah 'Abd al-Malik. It followed the standard set by Umar Ibn al-Khattab (ra).
These coins included the phrase: "Allah is Unique, Allah is Eternal". Beginning with these coins the use of human figures and animals was discontinued. Both the dinar and dirham coins were round in shape. Typically, one side of the coin was stamped with the words "La ilaha illallah" and "Alhamdulillah" and the obverse side with the name of the caliph or ruler and the date of minting.
The earliest Arab coins imitated those of the Persians (the Sassanians) and the Byzantines. The Arab-Sassanian series goes back as far as 31 AH (Hijriah) just 21 years after the death of Prophet Muhammad S.A.W. The Sassanian coins resumed a century later by the Arab governors of the Tabaristan province (on the southern border of the Caspian Sea). The Arab-Byzantine coins imitated the copper 40-nummia pieces of the 7th century Byzantine Emperors.
The Arab coinage was reformed in 77-79 AH (696-98 AD), creating the main Umayyad series. Its copper denomination, the Fals, exhibited a wide variety of types, but the silver coin, the dirham, used a single calligraphic type at all of the mints of the Caliphate. This coin, with its religious inscriptions and its consistent use of a date and a mint name, set a pattern that was followed for the next few centuries throughout the Islamic world.
The Abbasid series is similar to the Umayyad, but the script takes on a distinctive form that exaggerates the horizontal letters and makes the others microscopic. The Caliph's name is absent on the early issues (as on the Umayyad Dirhams), but it appears on some coins of al-Mahdi (775-85 AD) and becomes a standard feature on all later issues.
During the early 900s AD, the Abbasid Caliphs came under the power of the Buwayhid rulers and lost their temporal authority. Their coins came to an end, but their names were often placed on the coinage of other rulers, citing them as Islam's spiritual head. In a later age, the Abbasid Caliphs regained control of a temporal state, but those coins are of a much different style. Some non-Abbasid coins can be deceptive when they include the Caliph's name but happen to omit the name of the temporal ruler.
In the medieval Islamic world, a vigorous monetary economy was created during the 7th-12th centuries based on the expanding levels of circulation of a stable high-value currency – the Dinar. The Islamic gold dinar (sometimes referred as Islamic dinar or Gold dinar) is a bullion gold coin made from 4.25 grams of 22-carat (k) gold with historical Islamic significance.
The Dirham and Dinar were both used as the official Islamic currency beginning with the second Caliphate, 634-644 CE. The Islamic Dinar is the weight of gold equivalent to 4.25 grams, whereas the Islamic Dirham is the weight of silver equivalent to 3.0 grams. Umar Ibn al-Khattab established the known standard relationship between the two based on their weights: 7 dinars must be equivalent to 10 dirhams.
Gold has always had value to humans, even before it was money. This is demonstrated by the extraordinary efforts made to obtain it. Prospecting for gold was a worldwide effort going back thousands of years, even before the first money in the form of gold coins appeared. In the quest for gold by the Phoenicians, Egyptians, Indians, Hittites, Chinese, and others, prisoners of war were sent to work the mines, as were slaves and criminals. This happened during a time when gold had no value as 'money,' but was just considered a desirable commodity on itself.
The first use of gold as money occurred around 700 BC, when Lydian (Turkey) merchants produced the first coins. These were simply stamped lumps of a 63 per cent gold and 27 per cent silver mixture known as 'electrum.' This standardised unit of value, had no doubt helped Lydian traders in their wide-ranging successes, for by the time of Croesus of Mermnadae – the last King of Lydia (570-546 BC) – Lydia had amassed a huge hoard of gold. Today, we still speak of the ultra-wealthy as being 'rich as Croesus.'
Gold, measured out, became money. Gold was money in ancient Greece. The Greeks mined for gold throughout the Mediterranean and Middle East regions by 550 BC, and both Plato and Aristotle wrote about gold and had theories about its origins – one of them is that Gold was associated with water and it was said that gold was a particularly dense combination of water and sunlight.
The Islamic gold dinar came back to life as a consequence of a currency crisis in Asia in 1997. The then Prime Minister of Malaysia, Tun Dr. Mahathir Mohamad, proposed the Islamic gold dinar as currency for international trade in the Muslim world. It was supposed to suppress the overly traded American dollar and ensure that dollar's instability does not affect international trade because Islamic gold dinar was to be tied to the price of gold, and thus provide a stable value of the currency.
Tun Dr. Mahathir once emphasised that the Gold Dinar policy is being driven by the crushing reality of the economic and strategic crisis. The Gold Dinar can be a trading currency for all countries, not necessarily Muslim countries alone. He strongly feels that the Muslim countries are in the best position to demonstrate the viability of the system and in the process, show the world that they are capable of growing with stability and peace.
However, the idea has since been halted. Perhaps one day, it will become a reality and the gold dinar will reign within the Muslim world one day.
Sources : "http://www.halaljournal.com/article/4869/the-origins-of-paper-money-�ae�-part-two:--monetary-system-in-the-islamic-world"
By The Halal Journal published 7 months ago
Original Article Source: The Halal Journal Mar/Apr 2008
How did money as a medium of exchange for foods and services evolve into its current form we know and use today? Hazel Hassan Hisham transports us back into time and traces its origins in this second of a two-part article that chronicles the evolution of paper money.
The first Muslim coins were struck during the Caliphate of Uthman (ra), 644-656 CE. The first original minting of Islamic dirham was done in 695 CE (75 AH) during the reign of Khalifah 'Abd al-Malik. It followed the standard set by Umar Ibn al-Khattab (ra).
These coins included the phrase: "Allah is Unique, Allah is Eternal". Beginning with these coins the use of human figures and animals was discontinued. Both the dinar and dirham coins were round in shape. Typically, one side of the coin was stamped with the words "La ilaha illallah" and "Alhamdulillah" and the obverse side with the name of the caliph or ruler and the date of minting.
The earliest Arab coins imitated those of the Persians (the Sassanians) and the Byzantines. The Arab-Sassanian series goes back as far as 31 AH (Hijriah) just 21 years after the death of Prophet Muhammad S.A.W. The Sassanian coins resumed a century later by the Arab governors of the Tabaristan province (on the southern border of the Caspian Sea). The Arab-Byzantine coins imitated the copper 40-nummia pieces of the 7th century Byzantine Emperors.
The Arab coinage was reformed in 77-79 AH (696-98 AD), creating the main Umayyad series. Its copper denomination, the Fals, exhibited a wide variety of types, but the silver coin, the dirham, used a single calligraphic type at all of the mints of the Caliphate. This coin, with its religious inscriptions and its consistent use of a date and a mint name, set a pattern that was followed for the next few centuries throughout the Islamic world.
The Abbasid series is similar to the Umayyad, but the script takes on a distinctive form that exaggerates the horizontal letters and makes the others microscopic. The Caliph's name is absent on the early issues (as on the Umayyad Dirhams), but it appears on some coins of al-Mahdi (775-85 AD) and becomes a standard feature on all later issues.
During the early 900s AD, the Abbasid Caliphs came under the power of the Buwayhid rulers and lost their temporal authority. Their coins came to an end, but their names were often placed on the coinage of other rulers, citing them as Islam's spiritual head. In a later age, the Abbasid Caliphs regained control of a temporal state, but those coins are of a much different style. Some non-Abbasid coins can be deceptive when they include the Caliph's name but happen to omit the name of the temporal ruler.
In the medieval Islamic world, a vigorous monetary economy was created during the 7th-12th centuries based on the expanding levels of circulation of a stable high-value currency – the Dinar. The Islamic gold dinar (sometimes referred as Islamic dinar or Gold dinar) is a bullion gold coin made from 4.25 grams of 22-carat (k) gold with historical Islamic significance.
The Dirham and Dinar were both used as the official Islamic currency beginning with the second Caliphate, 634-644 CE. The Islamic Dinar is the weight of gold equivalent to 4.25 grams, whereas the Islamic Dirham is the weight of silver equivalent to 3.0 grams. Umar Ibn al-Khattab established the known standard relationship between the two based on their weights: 7 dinars must be equivalent to 10 dirhams.
Gold has always had value to humans, even before it was money. This is demonstrated by the extraordinary efforts made to obtain it. Prospecting for gold was a worldwide effort going back thousands of years, even before the first money in the form of gold coins appeared. In the quest for gold by the Phoenicians, Egyptians, Indians, Hittites, Chinese, and others, prisoners of war were sent to work the mines, as were slaves and criminals. This happened during a time when gold had no value as 'money,' but was just considered a desirable commodity on itself.
The first use of gold as money occurred around 700 BC, when Lydian (Turkey) merchants produced the first coins. These were simply stamped lumps of a 63 per cent gold and 27 per cent silver mixture known as 'electrum.' This standardised unit of value, had no doubt helped Lydian traders in their wide-ranging successes, for by the time of Croesus of Mermnadae – the last King of Lydia (570-546 BC) – Lydia had amassed a huge hoard of gold. Today, we still speak of the ultra-wealthy as being 'rich as Croesus.'
Gold, measured out, became money. Gold was money in ancient Greece. The Greeks mined for gold throughout the Mediterranean and Middle East regions by 550 BC, and both Plato and Aristotle wrote about gold and had theories about its origins – one of them is that Gold was associated with water and it was said that gold was a particularly dense combination of water and sunlight.
The Islamic gold dinar came back to life as a consequence of a currency crisis in Asia in 1997. The then Prime Minister of Malaysia, Tun Dr. Mahathir Mohamad, proposed the Islamic gold dinar as currency for international trade in the Muslim world. It was supposed to suppress the overly traded American dollar and ensure that dollar's instability does not affect international trade because Islamic gold dinar was to be tied to the price of gold, and thus provide a stable value of the currency.
Tun Dr. Mahathir once emphasised that the Gold Dinar policy is being driven by the crushing reality of the economic and strategic crisis. The Gold Dinar can be a trading currency for all countries, not necessarily Muslim countries alone. He strongly feels that the Muslim countries are in the best position to demonstrate the viability of the system and in the process, show the world that they are capable of growing with stability and peace.
However, the idea has since been halted. Perhaps one day, it will become a reality and the gold dinar will reign within the Muslim world one day.
Sources : "http://www.halaljournal.com/article/4869/the-origins-of-paper-money-�ae�-part-two:--monetary-system-in-the-islamic-world"
Dinar and Dirham
Abu Bakr ibn Abi Maryam reported that he heard the Messenger of Allah, may Allah bless him and grant him peace, say: "A time is certainly coming over mankind in which there will be nothing [left] which will be of use save a dinar and a dirham." (The Musnad of Imam Ahmad ibn Hanbal)
Gold and silver are the most stable currency the world has ever seen.Protect your wealth by buying gold and silver.
Zero inflation in 1,400 years
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