Dinar, dirham introduced by a Malaysian state only for keeping not trading: Minister
The Federal Government of Malaysia does not see any problem with the gold dinar and silver dirham introduced by the Kelantan government as long as it is only for keeping and not trading in the open market.
If Kelantan tried to use them as currency against Bank Negara regulations, the federal government would oppose, Deputy Finance Minister Datuk Dr Awang Adek Hussin has said.
The Federal Government will not reprove or criticize the government of Kelantan on the launch of the gold dinar and silver dirham if it involves investment purposes or storage and are not traded on the open market.
"Other than open to cheating, the value of gold dinar in the international market fluctuates every second," he told media persons at Perupuk on Saturday.
"It's not just because it is called in Arabic, has become regarded as an attraction for implementing and trading of Islamic financial system without reviewing the impact that can affect the dinar and dirham credibility Kelantan itself," he said.
He challenged the Kelantan government to prove in four months that the move had support form various sections of the population. "I don't think usage in that period will exceed RM1 billion," he added.
Mentri Besar Datuk Nik Aziz Nik Mat had said the Kelantan government would strive to expand the use of gold dinar and silver dirham in all transactions, including paying civil servants' remuneration.
- Asian Tribune -
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