Gold Dinar in Malaysia has been started since early 2000 by IGD Practice Sdn. Bhd. in Melaka (correct me if I am wrong). The dinar marketing has been done by Singgahsana Emas Sdn. Bhd(SESB)which started their operation officially on 16 June 2004 at Plaza Usahawan building in Melaka. Tun Dr. Mahathir bin Mohamad, Malaysia fourth Prime Minister has been actively promoting dinar for Muslim worldwide trading. I know several companies in Kelantan who are using gold dinar as a tools of barter trade but it still not widely used in Malaysia for trading. Most buyer a collector and investor of the precious metal.
The World Islamic Trading Organisation following the standard of caliph Umar Ibn al-Khattab has established the following standard for 1 dinar; Dinar weight: 4.25 grams, Alloy: 22 carats (0.916) Gold, Diameter: 23 millimeters. Another Islamic money is Dirham which is a specific weight of pure silver equivalent to 3.0 grams. Umar Ibn al-Khattab established the known standard relationship between them based on their weights: "7 dinars must be equivalent to 10 dirhams." How many Gold Dinar is widely used in Malaysia?
1. Public Dinar
Public Dinar is own by Public Fine Gold International Sdn. Bhd. A Malaysia company based in Bukit Jambul, Penang. There is three kind of Dinar coins available for Public Dinar; 1 dinar, 5 dinars and 10 dinars. All of the dinar coin is following the Islamic Dinar standard by using a 916 gold (22 carats). The design of the dinar is different from each other. You can visit their website publicdinar.com to check for the live spot dinar prices. You need to contact them via email or phone if you want to buy. Upon agreement, payment should be transfer within 1 1/2 hour.
2. Dinar Kelantan
Dinar Kelantan own by Permodalan Kelantan Berhad. A Malaysia company based in Kota Bharu, Kelantan. Kelantan Gold Dinar is created by state government of Kelantan in 20 September 2006. There is four kind of Dinar coins available for Dinar Kelantan; 1 dinar, 2 dinars half dinar and quater dinar. You can visit their website dinarkel.com. Dinar Kelantan only available from all Ar-Rahn under Permodalan Kelantan Berhad outlet in Kelantan Province. Read More.
3. Dinar Muslim
Dinar Muslim is own by Nusantara Bullion Exchange Sdn Bhd. A Malaysia company based in Petaling Jaya, Selangor. The company is just 6 months old and most of their gold come from Dubai. There is three kind of Dinar coins available for Dinar Muslim; 1 dinar, 2 dinars and 8 dinars. You can visit their website nubex.com.my to check for the live spot dinar prices. You need to register at ther website and lock the price online. After your online purchase, you need to contact them via email or phone on method of payment.
4. Perak Dinar
Dinar Perak is owned by Perak State Development Corporation and produced by Goldnet International Sdn Bhd. They had started selling their dinar on end of February 2011 with 1000 dinar and dirham. They have four denominations, half a gold dinar weighing 2.125gm, one gold dinar weighing 4.25gm, two gold dinars weighing 8.5gm and set of silver dirhams. The face of the instrument is printed with the Perak state emblem while the back is with a similar instrument produced during the era of Khalifa Abdul Malik ibn Marwan. Their Dinar and Dirham marketed through Yayasan Pembangunan Ekonomi Islam (Yapeim) and Nusantara Bullion Exchange (Nubex Sdn Bhd). Read More.
They're also many other dinar that produce by small company or has been obsolete. If you know their story, you can comment in here or email me at lunaticg@gmail.com. Anyone of you Malaysian collect gold dinar? Is it for investment or just some kind of saving?
