The Malaysian Gold Dinar Initiative

The Malaysian Gold Dinar Initiative



Dinar & Dirham International Sdn. Bhd. is the leading Malaysian organisation specialising in the Gold Dinar Economy. In addition to the design, production and distribution of bullion products, Dinar & Dirham International’s expertise covers:

· Education and training on the Gold- based Economy
· International Trade Settlement Mechanisms using Gold
· Models for domestic ‘closed circuit’ applications of Gold
· In-depth analysis of the world Gold Markets
· Global Political and Financial implications of the use of Gold as a world currency
· Islamic Gold Reserve initiatives
· New models for domestic and international Trade Investment

Background
The Asian financial crisis in 1997-98 delivered a 5-fold message

1. Paper currencies have no real value - they are numbers printed on paper;
2. The global financial system is unstable and unjust;
3. Developing nations have little or no defence against currency speculation,
4. That, to defend ourselves, we must create our own trading currency of real value,
5. Gold is a safe and stable store of wealth and a globally accepted trade currency.

Dato Seri Dr. Mahathir Bin Mohamad’s courageous and successful defence of the Malaysian economy against the attacks of the currency speculators and the influence of the IMF, gave him an deep understanding of the importance of developing a common gold-based trading currency for the Muslim nations.


For the Muslim World, the Malaysian Initiative to use Gold for International Trade Settlements is a pivotal event that will offer strength and unity to the Muslim Ummah.

The 10th OIC Summit
Malaysia will be host to the 10th OIC Summit in Putrajaya in October this year. The proposal to use Gold as a trade settlement instrument will be proposed to the attending 57 Heads of State. Bilateral Agreements will commence, developing into Multilateral Agreements which in turn will naturally evolve into a Gold Trade Bloc.

This is a platform on which all the Muslim Nations can agree and as Dato Seri Dr. Mahathir has stated, “…this will do more towards countering oppressions by their enemies than the futile violent retaliations.” The use of the Gold Dinar can serve as a genuine means of unity among the OIC states, encouraging inter-OIC trade, and giving them a common trade hard currency.

The Global Effect
The Gold Dinar will mark the return of gold as a financial instrument and a true global currency. It offers the first real alternative to the other anchor currencies.

The move away from fiat paper currencies towards gold will:
· Strengthen and unify the Muslim nations
· Begin the creation a Gold Dinar Trade Bloc
· Encourage and promote inter-OIC trade
· Remove the dependence on the US dollar
· Open the way for other gold-related trade instruments and practices
· Create a just and stable global trade settlement system, that can benefit all developing nations.



As Tan Sri Nor Mohamad Yacob stated recently, “Given this opportunity to strengthen our relationships, using the Gold Dinar, I believe it is incumbent on us as a fardhu kifayah to collectively implement this next component of the International Islamic Financial System.”

For further information, contact Dinar & Dirham International at ddigold@tm.net.my