World Bank Chief Calls For Return to Modified Gold Standard

In a sign of further erosion of confidence in the US Government and its decision to raise(and print) 600 BILLIONS in US Dollar Treasury Debt, Robert Zoellick calls for a return to a modified gold standard by proposing that gold be used as an “International Reference Point of Market Expectations” given that “markets are already using GOLD as an Alternative Monetary Asset.”



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1) FINANCIAL TIMES
2) YAHOO news
3)FORBES

Perak to Introduce DINAR & DIRHAM, 2nd Malaysian State!

On the sidelines of the 1st World RIBA Conference in KL-Malaysia, the Perak MB Zambry Abdul Kadir said that Perak will be the second state in Malaysia to introduce the Gold Dinar and Silver Dirham coins.

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Gold Discussion in 2nd Global Islamic Finance Forum

Attended the 2nd Global Islamic Finance Forum(GIFF 2010) in KL.

On the first day Tan Sri Andrew commented during the Global Business Leaders Dialogue..."....in 2008 when the markets came crashing down, who would have thought that gold prices would be where they are today!!!"

Tun Mahathir made some good remarks on the linkage between Gold and having a common Islamic Currency on the second day of the forum. Refer FreeMalaysiaToday.

Kelantan Launches Gold Dinar & Silver Dirham

UPDATED 9 November 2010:
Kelantan MAY pay half of Assemblymen’s salaries in Dinar & Dirham.


The Star Newspaper, 29 August 2010
MSN News
The Star Newspaper, 12 August 2010

Kelantan launches the GOLD Dinar and SILVER Dirham,being the FIRST state in Malaysia to do so.

The DINAR gold and SILVER dirham will be managed by Kelantan Gold Trade (KGT), a subsidiary of Kelantan Mentri Besar Incorporated (PMBK).

Apart from State Corporations, based on newspaper reports to-date 1,000 traders had agreed to use the gold dinar and the dirham silver currency in their transactions, besides Lembaga Tabung Haji and Bank Islam Malaysia.

Commodity MURABAHAH trading

Attended the 7th Kuala Lumpur Islamic Finance Forum (KLIFF) at Nikko Hotel.

During the Last Session of KLIFF 2010 - SHARIAH DIALOGUE: a question was posed to the Shariah Panelists on stage on the issue of Commodity Murabahah Trading vis-a-vis the CPO trading platform introduced by Bursa Malaysia. The panelists consists of Sheikh Essam Ishaq (Bahrain),Dr. Mohammed Abdul Rahim Sultan (UAE), Dr. Mohd Daud Bakar (IIIF-Malaysia)and Dr. Engku Rabiah Adawiah (IIUM-Malaysia). Akram Laldin ( ISRA - Executive Director) was the Moderator.

* Commodity Murabahah Trading (CMT)

* Food-based & Non-Food based (e.g. Crude Palm Oil-CPO, Gold, Silver etc)

* Food-based (e.g. Banana), MUST take delivery 1st prior to trading/
NON-FOOD based, NEED NOT take delivery for CMT

1st GOLD DINAR txn in TTDI.

Made my 1st Gold Dinar i.e. 1 Dinar txn for Debt Repayment in TTDI-KL.

TQVM SRG