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Islamic finance can restore confidence during crisis

Posted on 14 June 2012

From an Islamic perspective, the gold dinar and silver dirham were the monetary units of the Islamic caliphate from the dawn of Islam until the collapse of the caliphate in 1924.
The world has to be careful not to allow money or SDRs to be created out of thin air and thereafter, lent out on interest. Money and SDRs should be made redeemable for gold or other commodities, even oil, in order to prevent abuse and the repeat of monetary crises in the proportions of recent times………………………………………..Full Article: Source

 
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Laxman - who has written 19163 posts on Opalesque Islamic Finance Briefing.


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