What is it about?
The paper deliberated on some possible alternative forms of gold as money and then evaluated some obstacles and barriers in the hope of finding the best model of gold as money to be implemented in the current economic system.
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Why is it important?
The idea of revisiting currency and gold dinar from an Islamic standpoint as done in this paper is an interesting discourse in the current monetary system. The literature survey included historical aspect, supremacy of gold currency and the weakness of fiat money.
Perspectives
It is difficult to implement gold dinar monetary system in the current system due to some impediments. Backed by information/ communication technology and adequate political will, gold may, however be employed as measurement of value; and as such could be implemented in certain communities including cooperatives.
Research Professor Dr. Khaliq Ahmad
Putra Business School-UPM-Malaysia
Read the Original
This page is a summary of: Is Gold Dinar the Appropriate Money in Islam ?, Journal of Islamic Finance, January 2017, Al Manhal FZ, LLC, DOI: 10.12816/0047341.
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