Kelantan launches gold dinar

There is no reason why transactions in syariah currency cannot be practised in the state as it was widely used thousands of years before the fall of the Ottoman Empire," he said, adding that other states were encouraged to use the currency.

Via Mentri Besar Datuk Nik Abdul Aziz Nik Mat. Interesting that civil servants will now get gold dinars and silver dirhams instead of ringgit. More interesting is that 1,000 traders, one bank and Tabung Haji have also agreed to its usage.

MCA President asks valid questions:

  • He said the opposition political parties should let the people know their stand on this important issue because it affects the rice bowl of the people.

    “Civil servants in the state are forced to accept it. If businessmen in the state are also acceptable to the system, how about those outside the state?” he said after chairing the party’s central committee meeting at Wisma MCA here yesterday.

  • Dr Chua asked PAS whether they would introduce the currency at the federal level if they ruled the country.

    “If so, will it be accepted by foreign investors and businessmen?” he asked.

    He said the issue must be handled properly because it would affect the confidence of foreign investors and entrepreneurs.

I'd love to know the answers to these questions. I think I'd rather carry money than gold coinage!

PM Najib says Bank Negara will investigate. "Follow the laws of the country, only Bank Negara is authorised to issue currency that is legal tender"