Gold vis-à-vis money in Islam: the case against Dinarist movement

Gold vis-à-vis money in Islam: the case against Dinarist movement

This paper delves in an aspect of monetary economics, addressing its Islamic wing in general and dinar advocates in particular. It argues that calls to reinstitution of dinar currencies are not only anachronistic and unnecessary, but also counter-productive and potentially unislamic. It further posi...

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Main Authors: Mohamad, Azhar, Mohammad Sifat, Imtiaz
Format: Article
Language:English
Published: Emerald Group Publishing Ltd. 2017
Subjects:
HG201 Money
HG3368 Islamic Banking and Finance
Online Access:http://irep.iium.edu.my/59703/
http://irep.iium.edu.my/59703/
http://irep.iium.edu.my/59703/
http://irep.iium.edu.my/59703/1/59703_Gold%20vis-%C3%A0-vis%20money%20in%20Islam.pdf
id iium-59703
recordtype eprints
spelling iium-597032018-03-20T08:25:49Z http://irep.iium.edu.my/59703/ Gold vis-à-vis money in Islam: the case against Dinarist movement Mohamad, Azhar Mohammad Sifat, Imtiaz HG201 Money HG3368 Islamic Banking and Finance This paper delves in an aspect of monetary economics, addressing its Islamic wing in general and dinar advocates in particular. It argues that calls to reinstitution of dinar currencies are not only anachronistic and unnecessary, but also counter-productive and potentially unislamic. It further posits that regardless of nature of economy, legal tender fiat money and bank money are of same genus and treating them otherwise isn’t consistent with Islamic jurisprudential precepts. We also highlight that mismanagement, avarice, and human follies are to blame for financial maladies; regression to metallic currency is neither a panacea to the conundrums nor Islamic. Emerald Group Publishing Ltd. 2017-11-22 Article PeerReviewed application/pdf en http://irep.iium.edu.my/59703/1/59703_Gold%20vis-%C3%A0-vis%20money%20in%20Islam.pdf Mohamad, Azhar and Mohammad Sifat, Imtiaz (2017) Gold vis-à-vis money in Islam: the case against Dinarist movement. International Journal of Law and Management, 59 (6). pp. 977-992. ISSN 1754-243X E-ISSN 1754-2448 https://www.emeraldinsight.com/doi/full/10.1108/IJLMA-06-2016-0061 10.1108/IJLMA-06-2016-0061
repository_type Digital Repository
institution_category Local University
institution International Islamic University Malaysia
building IIUM Repository
collection Online Access
language English
topic HG201 Money
HG3368 Islamic Banking and Finance
spellingShingle HG201 Money
HG3368 Islamic Banking and Finance
Mohamad, Azhar
Mohammad Sifat, Imtiaz
Gold vis-à-vis money in Islam: the case against Dinarist movement
description This paper delves in an aspect of monetary economics, addressing its Islamic wing in general and dinar advocates in particular. It argues that calls to reinstitution of dinar currencies are not only anachronistic and unnecessary, but also counter-productive and potentially unislamic. It further posits that regardless of nature of economy, legal tender fiat money and bank money are of same genus and treating them otherwise isn’t consistent with Islamic jurisprudential precepts. We also highlight that mismanagement, avarice, and human follies are to blame for financial maladies; regression to metallic currency is neither a panacea to the conundrums nor Islamic.
format Article
author Mohamad, Azhar
Mohammad Sifat, Imtiaz
author_facet Mohamad, Azhar
Mohammad Sifat, Imtiaz
author_sort Mohamad, Azhar
title Gold vis-à-vis money in Islam: the case against Dinarist movement
title_short Gold vis-à-vis money in Islam: the case against Dinarist movement
title_full Gold vis-à-vis money in Islam: the case against Dinarist movement
title_fullStr Gold vis-à-vis money in Islam: the case against Dinarist movement
title_full_unstemmed Gold vis-à-vis money in Islam: the case against Dinarist movement
title_sort gold vis-à-vis money in islam: the case against dinarist movement
publisher Emerald Group Publishing Ltd.
publishDate 2017
url http://irep.iium.edu.my/59703/
http://irep.iium.edu.my/59703/
http://irep.iium.edu.my/59703/
http://irep.iium.edu.my/59703/1/59703_Gold%20vis-%C3%A0-vis%20money%20in%20Islam.pdf
first_indexed 2023-09-18T21:24:35Z
last_indexed 2023-09-18T21:24:35Z
_version_ 1777412106600054784

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