Kelantan launches gold dinar


  • Nation
  • Thursday, 12 Aug 2010

KOTA BARU: Kelantan paved the way to become the first state to introduce the gold dinar and silver dirham currency.

Speaking when launching the Syariah currency Thursday, Mentri Besar Datuk Nik Abdul Aziz Nik Mat said the state would strive to expand the use of the gold dinar and silver dirham in all transactions, including paying civil servants' remuneration.

However, there were still many technicalities that had to be addressed by the state government, he told reporters after launching the dinar gold and silver dirham here.

The dinar gold and silver dirham is managed by Kelantan Gold Trade (KGT), a subsidiary of Kelantan Mentri Besar Incorporated (PMBK).

In a symbolic gesture to mark the occasion, Nik Abdul Aziz handed over a gold dinar to PMBK chief executive officer Mustapha Salleh as payment of salaries to PMBK employees for the month.

Nik Abdul Aziz, who is also PMBK chairman, said 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.

"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. - Bernama

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