During the economic crisis in Asia in 1997, it was Prime Minister of Malaysia Mahathir bin Mohamad which is the Prime Minister of Malaysia proposed introduction of Islamic gold dinar as currency for international trade in the Muslim world. 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.
Effectively the use of the Islamic dinar will create an Islamic trading bloc. Such a trading bloc will be a powerful voice in International trading regimes and the shaping of the new financial architecture.
The gold currency was first used in 77AH,Many countries in the arab world have used dirhams or dinars as part of their currency systems as various times during the last two thousand years. The word dinar derives from the latin word denarius, which was actually a silver coin, and the origin of the "d" in the British "£.s.d" system, abbreviations for the latin words libra, solidus, and denarius.
The modern Islamic gold dinar (sometimes referred as Islamic dinar or Gold dinar) is a gold bullion 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. It is separate from the currencies of various states that use the dinar as a denomination.
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." This means you can
buy gold with the amount of 10 silver coins.
Currently due to the rise of interest into
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buy gold bullion due to the unstable economic crisis, there are a huge demand in buying gold coins. As the ultimate long-term store of value,
gold coins and bullion may very well be the ultimate retirement asset. There are also advisors for investment retirement account (IRA) for
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At Gold Coins Gain, the Aurum Advisors Website, is the online resource for gold coin and gold bullion acquisition. This website is a one stop center for easily accessible information on just about every physical gold topic under one roof.
Gold American Eagle, Gold Canadian Maple Leaf, Australian Gold Nugget, Liberty Quarter Eagle, Saint Gaudens Double Eagle and other precious metals for example American Platinum Eagle are some types of golds thats available at Gold Coins Gain.
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