Gold dinar as a supreme currency: Review based on the history of Islamic civilisation

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3 Citations (Scopus)

Abstract

Malaysia has proposed for the return of gold dinar as an important instrument in the monetary system during the severe currency crisis that has hit the Asean countries in 1997/98. The proposed gold dinar or the return of gold-based monetary system was received by intense debates when the World Bank President, Richard Zoelick, has proposed for an establishment of Bretton Woods II system recently in 2010. The question is how superior is the Muslim's currencies of gold dinar that has claimed for its restoration in the global monetary system? And what evidence of Islamic history linking to its stability and privileges? Thus, this study aims to analyze the privileges and supremacy of gold dinar currency based on the historical data of Islamic civilization from the time of Prophet Muhammad s.a.w (peace be on him) until the fall of the Ottoman Turkish government. This is a qualitative study going by the strategy of historical approach. Text analysis on historical data was used to obtain results. The results show that gold dinar was crowned as the first currency for the Muslims and has become a symbol of strength and a Muslim's identity during the time of the caliphates until the fall of the Ottoman Empire in 1924. The era of gold dinar was called the golden era of currency due to its stability by nature.

Original languageEnglish
Pages (from-to)348-356
Number of pages9
JournalAdvances in Natural and Applied Sciences
Volume6
Issue number3 SPECL.ISSUE 2
Publication statusPublished - Jan 2012

Fingerprint

Civilization
Gold
gold
monetary systems
History
history
Muslims
Islam
Ottoman Empire
United Nations
Malaysia
Restoration

Keywords

  • Gold dinar
  • Gold standard
  • Islamic civilisation
  • Islamic currency
  • Monetary system
  • Stability currency
  • Supreme currency

ASJC Scopus subject areas

  • Agricultural and Biological Sciences(all)
  • Biochemistry, Genetics and Molecular Biology(all)
  • Chemical Engineering(all)
  • Engineering(all)

Cite this

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title = "Gold dinar as a supreme currency: Review based on the history of Islamic civilisation",
abstract = "Malaysia has proposed for the return of gold dinar as an important instrument in the monetary system during the severe currency crisis that has hit the Asean countries in 1997/98. The proposed gold dinar or the return of gold-based monetary system was received by intense debates when the World Bank President, Richard Zoelick, has proposed for an establishment of Bretton Woods II system recently in 2010. The question is how superior is the Muslim's currencies of gold dinar that has claimed for its restoration in the global monetary system? And what evidence of Islamic history linking to its stability and privileges? Thus, this study aims to analyze the privileges and supremacy of gold dinar currency based on the historical data of Islamic civilization from the time of Prophet Muhammad s.a.w (peace be on him) until the fall of the Ottoman Turkish government. This is a qualitative study going by the strategy of historical approach. Text analysis on historical data was used to obtain results. The results show that gold dinar was crowned as the first currency for the Muslims and has become a symbol of strength and a Muslim's identity during the time of the caliphates until the fall of the Ottoman Empire in 1924. The era of gold dinar was called the golden era of currency due to its stability by nature.",
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author = "Yaacob, {Salmy Edawati} and Mujani, {Wan Kamal} and Yaacob, {Salmy Edawati} and Zaini Nasohah and {Mohd. Kusrin}, Zuliza and Samuri, {Mohd. Al Adib}",
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AU - Mohd. Kusrin, Zuliza

AU - Samuri, Mohd. Al Adib

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