A recent edition of the German magazine GEO-Epoche ran a special feature on the Vikings in which was stated: “As many as 100 million Arab coins were taken north by the Vikings, and more than 80,000 have been found in Sweden alone.”
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In the following interview we have spoken with the CEO of E-Dinar Dr. Dahinden about the role of payment systems in the future. 'Is there an alternative to Banking?' was one of our most important questions.
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Interest in economic issues has increased dramatically throughout the Islamic world. Of particular interest are journalistic and academic contributions regarding monetary matters, trade and contracts, that is to say, all aspects of Islamic commercial law.
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How effective are the sanctions against Iran? Opinions vary - given that the winner of the embargo and new partner of Iran could be the People’s Republic of China. The loser is now the German economy which must suspend its good relations with Iran.
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Gold prices have hit 14 new peaks during last two and a half months on the back of surging global prices. The rise of gold beyond $1,784.71 an ounce earlier this week in the international market and past Rs. 50,952.37 per 10 gram in local market prices has generated fresh interest in the yellow metal..
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WHEREAS, the unalienable rights to life, liberty and the pursuit of happiness require for their full enjoyment the indispensable right to honourably acquire, use, hold and transfer property;
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Gold prices have hit 14 new peaks during last two and a half months on the back of surging global prices. The rise of gold beyond $1,784.71 an ounce earlier this week in the international market and past Rs. 50,952.37 per 10 gram in local market prices has generated fresh interest in the yellow metal..
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The rush for gold has assumed enormous proportions lately and in fact is nothing other than a referendum of wallets. More and more people mistrust paper currencies and are placing their assets in gold.
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The history of the USA is awash with figures that stood for justice and freedom. Names such as Benjamin Franklin, Thomas Jefferson, Martin Luther King and Malcolm X can today be joined by one Bernard von NotHaus.
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Ulrich Schlüer, a member of Switzerland’s National Council for the Swiss People’s Party, has submitted an unusual Parliamentary initiative. Based on Article 160 Paragraph 1 of the Swiss Federal Constitution and Article 107 of the Swiss Parliament Act, he has drafted a remarkable proposal according to which the Swiss Constitution should be amended as follows:
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The central bank says the country must consider adopting a gold-backed Zimbabwean dollar warning that the US greenback’s days as the world’s reserve currency are numbered.
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It seems the Utah state House is taking the advice of Texas U.S. Rep. Ron Paul, officially stamping gold and silver as legal tender.
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Bank notes are now an integral part of our everyday lives, but in ancient Europe, money was always made up of coins of precious metal. Until 8th century AD, paper money was unthinkable, not least because of the expensive costs involved in the production of papyrus.
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Prototypes of an Electronic Hajj Saving Box (EHSB), an Automated Teller Machine (ATM) and a vending machine has been developed by researchers at the International Islamic University Malaysia (IIUM) as part of its dinar and dirham based projects.
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Seeing it as a source of security amid global economic instability, Indonesians are returning back to traditional Islamic currently in their daily transactions.
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In its first issue of 2011 the renowned "Halal Journal" from Malaysia presents a report about WIM and its global standards. The magazine contains a 6 sided, detailed report about the need for the introduction of appropriate standards and explains the most important rules for the introduction of the Dinar and Dirham economy.
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Since the onset of the financial crisis, people have for the first time been considering the Islamic economic model as a serious alternative. But there is still a need for Muslims to study their own economic law in more detail.
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As of now WIM has an official registered office in London. WIM has been set up in the capital as an association with non-commercial aims. WIM sees itself as a regulatory body in the service of all Muslims and has no political aims.
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After Kelantan, Perak will become the second state in the counrty to introduce the gold dinar and silver dirham currency to give its people more savings options.
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Governments should consider the use of the gold dinar to stop a currency war, says Former Prime Minister Tun Dr Mahathir Mohamad..
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The Central Bank of Malta has recently acquired a Fatimid quarter dinar minted in Malta during the Arab period to add to its numismatic collection. The significance of this acquisition lies in the fact that, until this quarter dinar was discovered, no Muslim coin bearing the mint name of Malta was known to exist, leading numismatists to believe that no Muslim coinage was ever minted on the island.
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(gm). The symptoms of the global predicament are well known. From the struggle to dominate contested regions and their energy routes, to the ­anarchic priva­tisation of violence, and the blatant crisis of the current financial order – all these are ­frequently evoked. But beyond all that, on a quite different plane, alternative models are ­appearing and ­gaining wider recognition. And at their heart, however differently formulated, is the desire for monetary freedom.
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Within ten years after the Bretton Woods Accord, the Indonesian Rupiah stood at 415 to 1 US dollar, in late 1986, 1000 to 1 and today it stands at approximately 9000 to 1. What happened in between was Indonesia’s blind following of Capitalism; an unquestioning adherence to the dogmatic dictates of Capitalism.
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For the modern Arab, fulus, originally the word for small change, is money itself. It relates intimately to the word for a bankrupt, muflis, which either means someone who only has small change (fulus) and no gold or silver, or in the more extreme case, someone who does not even have small change. However, the former understanding would have to be read by a modern Arab as someone who only has ‘money’; i.e. if you only have money, you are bankrupt.
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Bismillah irrahman irrahim
Regarding the matter of the Gold Dinar and Silver Dirham and Legal Tender in Malaysia

The Gold Dinar and Silver Dirham known as Shariah currency or Shariah coins in the Fiqh are not legal tender. The Shariah currency has no relation to present fiat currencies on many accounts and should not be legally or practically be compared or treated as the same. The Gold Dinar and Silver Dirham relates to religious matters, most important of which is the matter of payment of Zakat, rather than constitutional matters. Its introduction can only occurred on voluntary basis since freedom is a command from Allah in all commercial transactions including the acceptance of money. Its usage has been throughout history open to Muslim and non-Muslims alike.
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