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Gold Dinar Part 1 PDF Print E-mail

Dinar
Dinar
While exclusive paper money as currency is a relatively new phenomenon in world history, gold and silver were in use throughout the ages and across cultures as currency. Some sources say Prophet Aadam alaihis salaam initiated the use of gold and silver as currency.

In fact, much of the world instability and inflation is due to the fact that these metals are no longer used as everyday currency. The Muslim community, from the era of the Prophet sallallahu alaihi wa sallam till the fall of the last Khalifa used gold and silver.

 

The Quraan speaks of currency as being gold and silver. There are movements in the Muslim world calling for a return to the gold standard, the most prominent advocate being former Malaysian PM Mahatir Muhammad. Some states have introduced the gold dinar on a limited scale while it is widely available as an investment.

 

Here are a few facts on the gold dinar:

Initially Muslims used gold and silver by weight and used Persian dinar and dirhams.

The first dated coins assigned to Muslims are copies of silver dirhams of Yezdigird III, struck under Uthman radhiallahu anhu.

In 695 CE Khalifah Abdulmalik minted the first Islamic dirhams, establishing officially the standard of Umar Ibnul Khattab radhiallahu anhu

The Islamic dinar is a coin of 22k (91.7%) gold weighing 4.25 grams.

 
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