The article is explaining alternative currency instead of fiat money prevalent in modern banking
Photo by Dmitry Demidko on Unsplash
What is it about?
The idea of revisiting currency and gold dinar in Islamic standpoint is an interesting discourse in the current monetary system. The study examined the historical aspects and supremacy of gold currency and the weakness of fiat money by employing maslahah-mursalah approach. The law of gold as money, money from maqasid Shariah and Siyasah Shariah approaches were discussed.
Why is it important?
The whole banking system due to the presence of fiat money is at the verge of collapse. The deposits and savings including investment of people hard earned money is in danger, if the trust of the market betrayed.
The following have contributed to this page: Professor Khaliq Ahmad bin Mohamad and BURHAN ULUYOL