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Encyclopedia > Islamic gold dinar
Islamic dinar and dirham

The Islamic gold dinar (sometimes referred as Islamic dinar or Gold dinar or i-Dinar) is a bullion gold coin made from 4.25 grams of 22-carat (k) gold with historical Islamic significance. Gold dinar may also refer to various historic gold coins denominated in dinars. A precious metal is a rare metallic element of high, durable economic value. ... Gold coins are one of the oldest forms of money. ... Carat is a measure of the purity of gold and platinum alloys. ... For people named Islam, see Islam (name). ... A 25,000 Iraqi dinar note printed after the fall of Saddam Hussein. ...

Contents

Conversion rate

The Islamic gold dinar conversion rate to other currencies is based on gold spot price. International gold spot price is published in troy ounce of 24k gold, while gold dinar is 22k gold measured in grams. Because one kilogram is about 32.15 troy ounce, the International gold spot price is about 7.98 times of gold dinar conversion rate. weight of coin (grams) × purity of coin × troy ounces per kilogram = fraction of spot price per coin Reserves of foreign exchange and gold in 2006 A pile of 12. ... Troy weight is a system of units of mass customarily used for precious metals and gemstones. ...



For example, if today gold spot price is €438.90 per ounce, then one islamic gold dinar is about €55 (438.90 divided by 7.98). The current gold dinar was a theoretical coin in the Islamic world until September of 2006. The Islamic world is the world-wide community of those who identify with Islam, known as Muslims, and who number approximately one-and-a-half billion people. ...


=(31.1034768/1)/((4.25/1)*(22/24)) = 7.98


€438.90 per ounce/7.98 = €54.97 Per one Gold Dinar (4.25 Grams & 22k Gold)


In USD =(31.1034768/1)/((4.25/1)*(22/24)) = 7.98

Dinar history

According to Islamic law, the Islamic dinar is a specific weight of 22k gold (91.7%) equivalent to 4.25 grams. The Islamic dirham is a specific weight of pure silver equivalent to 3.0 grams. Umar Ibn al-Khattab established the known standard relationship between them based on their weights: "7 dinars must be equivalent to 10 dirhams." GOLD refers to one of the following: GOLD (IEEE) is an IEEE program designed to garner more student members at the university level (Graduates of the Last Decade). ... This article is about the chemical element. ... For other uses, see Umar (disambiguation). ...

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 This is a sub-article of Islamic economical jurisprudence. ... Hudud ( Arabic , also transliterated hadud, hudood; plural for hadd, , limit, or restriction) is the word often used in Islamic social and legal literature for the bounds of acceptable behaviour and the punishments for serious crimes. ... Ijmāʿ (إجماع) is an Arabic tern referring to the consensus of the ummah, the community of Muslims, those practicing Islam, or of the ulema, those learned in the relevant topic. ... Ibn Khaldūn or Ibn Khaldoun (full name, Arabic: , ) (May 27, 1332 AD/732 AH – March 19, 1406 AD/808 AH), was a famous Berber Muslim polymath: a historian, historiographer, demographer, economist, philosopher, political theorist, sociologist and social scientist born in present-day Tunisia. ... The Muqaddimah, or the Muqaddimah of Ibn Khaldun (Arabic: مقدّمة ابن خلدون), records an early Muslim view of universal history. Many modern thinkers view it as one of the first works of sociology. ...

Modern history

As a consequence of currency crisis in Asia, in first 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. It was supposed to suppress the too overly traded American dollar and ensure that dollar's instability does not affect international trade because Islamic gold dinar was to be tied to price of gold and thus provide stable value of the currency. 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. For other uses, see Asia (disambiguation). ... For the band, see 1997 (band). ... The Prime Minister of Malaysia (in Malay Perdana Menteri) is the indirectly elected head of government of Malaysia. ... Mahathir bin Mohamad (b. ... Nations with a Muslim majority appear in green, while nations that are approximately 50% Muslim appear yellow. ... The United States dollar is the official currency of the United States. ... Dato Seri Abdullah bin Haji Ahmad Badawi[1] (born November 26, 1939 in Kepala Batas, Penang) is the 5th Prime Minister of Malaysia. ... The Prime Minister of Malaysia (in Malay Perdana Menteri) is the indirectly elected head of government of Malaysia. ...


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 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 Bhd (Perbadanan Kelantan Bhd) and all eight Ar-Rahn Islamic pawnshops in the state. is the 263rd day of the year (264th in leap years) in the Gregorian calendar. ... Year 2006 (MMVI) was a common year starting on Sunday of the Gregorian calendar. ... State motto: Berserah kepada Tuhan Kerajaan Kelantan State anthem: Selamat Sultan Capital (and royal capital) Kota Bharu Ruling party PAS  - Sultan Tuanku Ismail Petra  - Menteri Besar Nik Aziz Nik Mat History    - Siamese control 1603   - British control 1909   - Japanese occupation 1942-1946   - Accession into Federation of Malaya 1948  Area  - Total 14...

A silver dirham and a gold dinar

In Malaysia, under the IGD Practice Sdn. Bhd., they established wakala (Islamic banking agencies) in a few states in Malaysia. [1] Islamic banking refers to a system of banking or banking activity that is consistent with Islamic law (Sharia) principles and guided by Islamic economics. ...


Common uses of the gold dinar include:

  1. Saving them, because they are wealth in themselves.
  2. Paying zakat and dowry as established within Islamic Law.
  3. Buying merchandise from outlets.
  4. Holding accounts, and making and receiving payments as with any other medium of exchange. [2]

This is a sub-article of Islamic economical jurisprudence. ... A dowry (also known as trousseau) is the money, goods, or estate that a woman brings to her husband in marriage. ... Sharia (Arabic شريعة also Sharia, Shariah or Syariah) is traditional Islamic law. ...

The IGD Exchange Payment System

IGD Exchange is the name of a world-wide internet base electronic payment and exchange system that uses the Islamic gold dinar and dirham in correspondence with Islamic banking agencies. Islamic banking refers to a system of banking or banking activity that is consistent with Islamic law (Sharia) principles and guided by Islamic economics. ...


The primary use of the Islamic Dinar and Dirham is as a buffer instrument for international trading, namely Bpa and Mpa.


IGD Exchange transaction are executed directly between the two parties involved without requiring third-party intermediaries.


See also

e-dinar is a digital gold currency founded in 2000 by Zeno Dahinden, of Switzerland, Dato Abdul Rahman Shariff, of Malaysia, and Fernando Vadillo, of Spain. ... e-Dirham is a Payment Tool devised by the United Arab Emirates government in order to facilitate collection of revenues, and providing the government and public with a secure and convenient payment tool. ... The Kelantanese dinar is a currency that was created by the Government of the Malaysian state of Kelantan in 2006. ...

External links

  • The official producer and promoter of the Islamic Dinar and Dirham
  • The official producer and promoter of the Islamic Dinar and Dirham (Malaysia)
  • Pakstrategy pages on the Islamic Dinar
  • Exchange Rates
  • The Zakat Pages - Everything you need to know about the 3rd pillar of Islam and the necessary use of gold
  • Idea of Islamic Dinar gaining momemtum
  • Islamic Gold Dinar Will Minimize Dependency on U.S. Dollar
  • Gold Dinar
  • An English blog about the gold dinar
  • A Malay blog about the gold dinar
  • The Gold Dinar Research Group (GDRG) Malaysian website
  • Industrial Survey Research Data Analysis online Malaysian webportal
  • Islamic Scholar Imran Hossein
A 25,000 Iraqi dinar note printed after the fall of Saddam Hussein. ... The dinar is the currency of Algeria. ... ISO 4217 Code BHD User(s) Bahrain Inflation 2. ... ISO 4217 Code IQD User(s) Iraq Inflation rate 33% Source The World Factbook, 2005 est. ... The Jordanian dinar (ISO 4217 code JOD) is the official currency of the Hashemite Kingdom of Jordan and the first official one in the State of Palestine. ... The Kelantanese dinar is a currency that was created by the Government of the Malaysian state of Kelantan in 2006. ... ISO 4217 Code KWD User(s) Kuwait Inflation 3. ... ISO 4217 Code LYD User(s) Libya Inflation rate -1% Source The World Factbook, 2005 est. ... ISO 4217 Code MKD User(s) Republic of Macedonia Inflation rate 0% Source The World Factbook, 2005 est. ... ISO 4217 Code RSD User(s) Serbia (including parts of Kosovo) Inflation 6. ... ISO 4217 Code TND User(s) Tunisia Inflation 2. ... The dinar was the independent currency of Bosnia and Herzegovina between 1992 and 1998. ... Obverse and reverse of 10 Croatian dinars Croatian dinar was official currency in Croatia from December 23, 1991 (replacing the Yugoslav dinar) to May 30, 1994 (replaced by the kuna). ... Denier The denier was a French coin created by Charlemagne. ... Krajina Dinar, 5 million dinar note The dinar was the currency in Republic of Serbian Krajina between 1992 amd 1994. ... The dinheiro was the currency of Portugal from around the late 12th century until approximately 1433. ... The dinar was the currency of the Republika Srpska between 1992 and 1998. ... The dinar was the currency of South Yemen between 1965 and 1991. ... The dinero was the currency of the Christian states of Spain from the 11th century. ... // The Dinar The dinar is the currency of Sudan. ... Obverse of 10 Yugoslav Dinars issued by the National Bank of Yugoslavia during 1960s Reverse of 10 Yugoslav Dinars issued by the National Bank of Yugoslavia during 1960s Yugoslav dinar was the official valute in former Yugoslavia. ... The qiran (قران), also qerun or kran, was a currency of Iran between 1825 and 1932. ... ISO 4217 Code IRR User(s) Iran Inflation 15. ... The Andorran diner is a commemorative currency issued in form of bimetallic coins. ... First row : c. ... e-dinar is a digital gold currency founded in 2000 by Zeno Dahinden, of Switzerland, Dato Abdul Rahman Shariff, of Malaysia, and Fernando Vadillo, of Spain. ... After the first Gulf War the Iraqi government issued a new currency. ...

 
 

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