In Malaysia, the state of Kelantan minted the Gold Dinar & Silver Dirham in 2006, it was later reintroduced as Syariah Currency in 2009. The Dinar & Dirham of Kelantan, was minted in Dubai, worth of 91.6% of gold, 22 carat purity, 4.25 gram according to the Caliph Umar standardization under the supervision of World Islamic Mint
During the launch in 2009, 1 Gold Dinar equals to RM450, 1 Silver Dirham equals to RM13
2 years later (today), 1 Dinar equals to RM824 ( Price referring to 25/9/2011 reached RM867 the highest this week), 1 Silver Dirham equals to RM25
The value of Gold Dinar & Silver Dirham still increasing though drops & increases again by day alongside the Gold & Silver price.
Within 1 month since it was launched, 1.5 Million worth of Gold Dinar & Silver Dirham was SOLD OUT & still being minted until now.
Later in 2011, Perak Dinar was also launched despite the controversy between the state & central government on Dinar (that is another issue due to political agenda by both side which we can just set aside)
However, since 2001, Indonesia was already minting the Dinar & Dirham after Dr. Mahathir’s introduced the Gold Dinar issue in OIC proposing for OIC members to trade using Gold Dinar instead of Dollar. For Indonesians, you can check Wakala Nusantara for more information on where to get your Dinar. They have at least 100 waqala (place to get your Dinar all over Indonesia)
Besides the restoration of Zakat, using Gold Dinar & Silver Dirham will avoid from using paper money which is open to manipulation of currency by a certain country. It will not only give a fair trade during transactions, it will also enriches people who use the gold dirham & silver dirham.
For example, the cost of Hajj 10 years ago will cost you at least 70 piece of Gold Dinar more less RM 9100 ( 1 Gold Dinar at that time was only around RM130), but now in 2011 you only need 17 Gold Dinar ( 1 Gold Dinar , around RM800+).
That means, you only need less Gold Dinar & probably can go for Hajj for more than one person if you already been collecting 70 piece of Gold Dinar since 2001..!!!
1 Gold Dinar in Rasullullah SAW time can buy you a goat, 1432 years after Hijra, 1 Gold Dinar still can buy you a goat with the same piece of gold coin you have.
Since1971 thanks to the Bretton Woods, the paper money we are using now, was not backed by gold, even in US they have banned anyone from having gold reserve,instead they give you a piece of paper claiming that the government owes you some gold but you will never get your gold when you ask for it to be returned to you. This is also happening to people who opt for Gold Account, if you can’t get hold of your gold, better just buy yourself a real gold & not just numbers in your bank account. Money devalues by day, so will your savings.
The gold dinar & silver dirham is not for muslims only but also the non-muslims, else there wont be Eagle coin, it was made as Legal Tender in Utah, US. The Gold Dinar & Silver Dirham is not some product where you can buy it on the shelf, it may be expensive, but its not because its expensive but because the value & demand on Gold & Silver are increasing since many opt for assets that are more stable & does not devalues compared to paper money.
The only reason why the Gold Dinar & Silver Dirham is increasing was because of the paper money have been depreciating & the trust on the current world currency have gone down.
Even though recently the price of gold & silver have gone down within one week, but it is an irony to see the paper money increasing its value when it have no value at all. How can a Bank charge you for a piece of paper claiming that they can pay you back (IOU) when they cannot pay you back and at the same time loans the money you save to others when the truth is they have no gold what more money?
Your Savings in Bank A: $ 100
Bank A reserves your savings: 20% = $20
Bank allowed to loan to bank B: 80% = $80
Your bank account: $100 – Bank A $20
Bank A have $80 that can be used to loan to Bank B
Bank A loans to Bank B $80,
Bank B have $80 , reserves 20%, loans to Bank C 80%
Bank C have $64,reserves 20% from its savings, loans 80% to Bank DEFGHIJKLMNOPQRSTUVWXYZ…….and so on….do your math yourself
and walla! money created out of thin air & if the bank don’t have enough money,just print some more ^^
Abu Bakr Ibn Abu Maryam (RAA) reported that he heard the Messenger of Allah (SAW) say: “A time is certainly coming over mankind in which there will be nothing (left) which will be of use (or benefit) save a dinar and a dirham (gold and silver coins).” (Ahmad)
Video n on Dinar & Dirham used in Cilincing, Jakarta,Indonesia: http://www.youtube.com/watch?v=nNtIsSWVJBI
Malik ibn Dinar (may Allah have mercy on him) was one of the renowned pious men of his time. No body imagined that he...