ISLAMIC GOLD DINAR

How to Buy Islamic Dinars

By ScottW, eHow Contributor
updated: September 3, 2010






    •     The dinar is the official currency in the Islamic countries of Algeria, Bahrain, Iran, Iraq, Jordan, Kuwait, Libya, Serbia, Sudan, Yemen and Tunisia. The dinar of these countries is paper. The new Islamic dinar--an all gold coin--has been created in Malaysia with the hopes that it will become the currency of more than one billion Muslims in the world.

      Exchanges

    1. Dinars (paper currency) can be bought and sold at numerous sites online through exchanges such as EZForex.com and Dinar Profits.com. EZForex sells dinars from various Muslim countries. Make sure that the site you go to is registered with the U.S. Treasury. You can also buy dinars in the individual countries you are visiting.

      2. The Dinar Exchange--UK

    2. The Dinar Exchange is the official supplier of dinars in the United Kingdom. The stated purpose of the Dinar Exchange is to set up dealerships throughout the United Kingdom. Dinar agents are currently available through the Dinar Exchange in Birmingham, Edinburgh, Sheffield, London and Glasgow.

      3. Indonesia--Gold Dinars

    3. In Indonesia, a company named Wakala Induk Nusantara (WIN) mints Islamic dinars, and states that the gold dinars in circulation have doubled in the past year. These dinars are for use in Australia, Singapore and in Malaysia. The new gold dinars should not be confused with the Iraqi dinar, which is paper money. In Malaysia's northern state of Kelantan, the gold coin dinar has become official currency.


    Gold dinar in Malaysia


        There are many Gold Dinar circulated in Malaysia lately due to the recognition of the value of Gold Dinar. All of it is locally minted like;
    1. Kijang Emas (Bank Negara Malaysia) - Minted by BNM and Circulated by Maybank
    2. Dinar Emas Kelantan (Kelantan Corporation Berhad) - Minted by KCB and Circulated by Ar-Rahn and KCB

        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 Dinar Emas Kelantan (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 Berhad (Perbadanan Kelantan Berhad) and all eight Ar-Rahn Islamic pawnshops in the state.[1]

    Common uses of the gold dinar include:
    1. Saving them, because they are wealth in themselves.
    2. Paying zakat and dower 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.

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