Islamic gold dinar

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The modern 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 that is a recent revival of the historical gold dinar
which was a leading coin of early Islam.[citation needed] It is separate from the currencies of various
states that use the dinar as a denomination.[citation needed]Contents [hide]
1 Gold content and value
2 Dinar history
3 Modern history
3.1 Gold dinar in Malaysia
4 See also
5 Notes
6 External links

[edit]
Gold content and valueDenomination WeightLon Fix
1 Dinar 0.125254 Oz $110.13
2 Dinars 0.250508 Oz $220.26
8 Dinars 1.002032 Oz $881.04

Fabrication costs are not included

London Fix As of 7 April 2009 @ 879.25
[edit]
Dinar history

According to Islamic law, the Islamic dinar is a coin of 22k (91.7%) gold weighing 4.25 grams. The
Islamic dirham coin is 2.975 grams of pure silver. Umar Ibn al-Khattab established the known standard
relationship between them based on their weights: "7 dinars must be equivalent (in weight) to 10
dirhams."[citation needed]“ The Revelation undertook to mention them and attached many
judgements to them, for example zakat, marriage, and hudud, etc., therefore within the Revelation they
have to have a reality and specific measure for assessment of zakat, etc. upon which its judgements
may be based rather than on the non-shari'i other coins.

Know that there is consensus [ijma] since the beginning of Islam and the age of the Companions and
the Followers that the dirham of the shari'ah is that of which ten weigh seven mithqals weight of the
dinar of gold... The weight of a mithqal of gold is seventy-two grains of barley, so that the dirham
which is seven-tenths of it is fifty and two-fifths grains. All these measurements are firmly established
by consensus. ”

—Ibn Khaldun, Al-Muqaddimah

[edit]
Modern history

As a consequence of the currency crisis in Asia, in the first part of 1997, then Prime Minister of
Malaysia Mahathir bin Mohamad proposed introduction of Islamic gold dinar as currency for
international trade in the Muslim world.[citation needed] It was intended to replace the United States
dollar and, as a gold-based currency, provide a medium of exchange more stable than the dollar.
Mahathir announced that Malaysia was to start using the dinar in mid-2003, but when in 2003 Abdullah
Ahmad Badawi replaced him as Prime Minister of Malaysia, this idea was halted.[citation needed]
[edit]
Gold dinar in Malaysia

On the 20 September 2006, Kelantan became the first state to launch gold dinar coins. It features the
Kelantanese state crest, the date of production, as well as the weight and purity of the gold used on its
face. The Dinar Emas Kelantan (DEK) is similar to the original dinar in weight and purity of gold used.
The coins can be bought and sold at the Kelantan Corporation Berhad (Perbadanan Kelantan Berhad)
and all eight Ar-Rahn Islamic pawnshops in the state.[1]

Common uses of the gold dinar include:

Saving them, because they are wealth in themselves.
Paying zakat and dowry as established within Islamic Law.
Buying merchandise from outlets.
Holding accounts, and making and receiving payments as with any other medium of exchange