27.10.2010 - Gold backing of currency doesn't make it Islamic - Dr Mahathir

From Bernama: Backing currency with gold does not make it Islamic, former prime minister Tun Dr Mahathir Mohamad said on Tuesday. He said it became Islamic only if transaction in the currency did not involve interest or riba. "It is not the name that is important. It is the gold backing for the currency, whatever may be its name," he said in a keynote address at the Global Islamic Finance Forum 2010 here..............................................Full Article: Source

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