| Author |
 Topic  |
|
|
BCNumismatics
Penny Sorter Member
New Zealand
77 Posts |
|
|
DoctorMetal
Penny Sorter Member
40 Posts |
 Posted - 06/11/2010 : 16:53:08
|
| I looked at their website, and was even tempted to send them an email. I've always wanted a gold dinar to add to my collection, one of the newer ones, that is, just a good specimen, one ounce size, to round out the foreign coin collection. Heck, I'd even settle for a good silver specimen. Problem is, the premiums are a bit high, and I'm not sure, being a non-Muslim, if I want to get involved/receive static/or whatever with that whole Islamic banking thing. I'd be willing to let somebody else try to obtain one for me, however. |
 |
|
|
beauanderos
1000+ Penny Miser Member
USA
2408 Posts |
|
|
AGCoinHunter
Penny Hoarding Member
USA
685 Posts |
Posted - 06/11/2010 : 20:15:53
|
| Non-muslim? What does that have to do with owning one? Refresh me, I dont understand. |
"All tyranny needs to gain a foothold is for people of good conscience to remain silent."
-Thomas Jefferson
"There is no difference between communism and socialism, except in the means of achieving the same ultimate end: communism proposes to enslave men by force, socialism—by vote. It is merely the difference between murder and suicide." - Ayn Rand
________________________________________________
Lenin: Class-based International Socialism
Hitler: Race-based National Socialism
Obama: Class- and Race-based Post-National Socialism
|
|
|
|
theo
Penny Hoarding Member
USA
588 Posts |
Posted - 06/11/2010 : 20:35:49
|
quote:
Originally posted by AGCoinHunter
Non-muslim? What does that have to do with owning one? Refresh me, I dont understand.
I'm vague on the details but Islam has its own set of banking regulations; some of which are very different from those in the West. For example, its my understanding that Islamic banking does not recognize the concept of interest (Time value of money).
I don't want to speak for D.M. but he could be thinking that there is some ancient (though still adhered to) law that forbids non-muslims from holding and/or transacting in Muslim currency. If such a law did exist in Muslim banking tradition then it could effect the value/marketability of this coin. Frankly, I have no direct knowledge of such a law, but it wouldn't surprise me if it existed.
I'll be interested to read what others have to add. |
Edited by - theo on 06/11/2010 20:38:04 |
|
|
|
Neckro
1000+ Penny Miser Member
Saudi Arabia
2080 Posts |
Posted - 06/11/2010 : 20:43:12
|
| Also might be considering the US government tracking people who are involved with Banks associated with Muslim countries, who might link the buyer as a terrorist supporter. Everyone knows the government loves to blame people for crimes just for the fun of it. :D |
Trolling is an art. |
|
|
|
BCNumismatics
Penny Sorter Member
New Zealand
77 Posts |
Posted - 06/12/2010 : 01:26:48
|
I have got a contact who lives part of the year in Australia & part of the year in Indonesia who went to Kelantan in 2008.
He got me an example of the Kelantanese AH1427 (2006) 1/4 Dinar when he was over there.
Last year,he got me an example of Kedah's silver 5 Dirhams dated 2008.
By the way,he isn't a Muslim either.
Aidan. |
Aidan Work.
My numismatic photos can be found here; http://www.coinforums.com/gallery/u6-bcnumismatics.html .
Please let me know what you think. |
|
|
|
jadedragon
Administrator
Canada
3788 Posts |
Posted - 06/12/2010 : 08:59:15
|
I know a little bit about islamic banking from running into it in Malaysia. For example, I went to do work with HSBC and found that the bank rep had two sides to their business card - one being the islamic brand. I asked what the difference was and was told that it was effectively nothing. They call interest "profit sharing". Islamic banking is a very recent practice and they are still defining it. Here is what wikipedia says:
Islamic banking refers to a system of banking or banking activity that is consistent with the principles of Islamic law (Sharia) and its practical application through the development of Islamic economics. Sharia prohibits the payment or acceptance of interest fees for the lending and accepting of money respectively, (Riba, usury) for specific terms, as well as investing in businesses that provide goods or services considered contrary to its principles (Haraam, forbidden). While these principles were used as the basis for a flourishing economy in earlier times, it is only in the late 20th century that a number of Islamic banks were formed to apply these principles to private or semi-private commercial institutions within the Muslim community.
A lot more here: You must be logged in to see this link.
Frankly the world banks should move closer to the islamic banking model. While in practice they don't get all the way there, banks using the Islamic banking model are closer to 100% reserve ratio banking. Lending is supposed to be more conservative, with high collateral standards. No investments in gambling are allowed (ethical investments).
I am not aware of any rule against a non-Muslim working with a Islamic Bank. In fact, according to cited articles most islamic banks are run by and owned by non-Muslims.
|
“The reasonable man adapts himself to the world; the unreasonable one persists in trying to adapt the world to himself. Therefore all progress depends on the unreasonable man.” – George Bernard Shaw.
Why Copper Bullion ~~~ Interview with Silver Bullion Producer Market Harmony
Passive Income blog |
|
|
|
BCNumismatics
Penny Sorter Member
New Zealand
77 Posts |
|
|
DoctorMetal
Penny Sorter Member
40 Posts |
Posted - 06/13/2010 : 13:56:31
|
| I meant nothing by it, but was of the understanding that kafir (non-believers) shouldn't own dinars. Don't have at hand the exact details, citations, or sources of my understanding (perhaps Bernstein's book The Power of Gold), and don't really want to start any debates over it, but roughly, have read or heard that the resurgence of these coins is: (a) part of an Islamic renaissance designed to position the dinar as a world reserve standard; (b) part of a taqiyya or something about global economic collapse/supporting global jihad - the dinar being historically associated with paying ransom to Muslim pirates; and (c) may only be obtained by non-muslims in some sort of fair, honest transaction which doesn't remind muslims about the treaties or agreements during the crusades which required dinars to never have the face of a caliph on them. Hope this helps explain what I meant by expressing my personal hesitations. |
|
|
|
BCNumismatics
Penny Sorter Member
New Zealand
77 Posts |
Posted - 06/13/2010 : 22:30:27
|
DoctorMetal,
Christians & Jews are not excluded from holding Dinars & Dirhams,as according to the Koran,both Christians & Jews are 'People of the Book'.
There are no gold Dinars under the traditional Islamic currency system that depict a monarch's portrait.I don't think these new coins depict the portrait of the Sultan of Kelantan.
In 2008,a medal-coin issue was struck at a mint on Penang Island for Kedah to commemorate the Golden Jubilee of Sultan Abdul Halim Shah of Kedah.I ended up getting an example of the silver 5 Dirhams for my own collection.
Aidan. |
Aidan Work.
My numismatic photos can be found here; http://www.coinforums.com/gallery/u6-bcnumismatics.html .
Please let me know what you think. |
|
|
|
BCNumismatics
Penny Sorter Member
New Zealand
77 Posts |
|
|
beauanderos
1000+ Penny Miser Member
USA
2408 Posts |
|
|
BCNumismatics
Penny Sorter Member
New Zealand
77 Posts |
|
| |
Topic |
|
Kelantan has issued new coins - gold & silver!
Forum Locked
Posted - 06/11/2010 : 02:49:49
