Gold Dinar: An alternative currency for ALL
2/2/2012 12:19:33 PM
Dr. Ma’sum BillahMoney plays a vital role in the economy of any country, not only for providing a medium of exchange but also for the basic survival of the economy of the country.
Traditionally, many things have been used by man to accommodate trade such as sea shells, gold, silver, special type of stones and so on. Currently, the world is using the paper money as the official medium of exchange between individuals and institutions. So far, the system has managed to survive many financial crises and it seems to be in use for many years to come. Unfortunately, the paper money system does have its flaws including some that make it an unacceptable medium in the eyes of Islam. These flaws are shared here along with an alternative system (Gold Dinar) that can be used by the world communities as a sustainable one for all. This new system is one that is sure to be just and also in accordance with the Shari’ah standard.
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