Yesterday, Bank Islam response to a statement by Kelantan Menteri Besar, Datuk Nik Abdul Aziz Nik Mat that the bank has agreed to use the gold dinar and silver dirham in its transaction. Bank Islam Malaysia Bhd, via its unit, Farihan Corp, only offers a custodian service for the dinar gold and Silver dirham currency at its Ar-Rahnu premises in Kota Baharu and Pasir Puteh. In a statement on Tuesday, the bank said pawning of the dinar or dirham currency was also accepted from the currency owner, whether from the Kelantan Golden Trade Sdn Bhd or the public.
Photo by Malaysia Star: New Dinar and Dirham Kelantan"Currently, the bank does not provide gold saving service as well as distribution of dinar or dirham currency in any form of transactions," it said.
The coins came into circulation kast Thursday and can be purchased at various locations in Kelantan. The gold dinar and silver dirham is managed by Kelantan Gold Trade (KGT), a subsidiary of Kelantan Mentri Besar Incorporated (PMBK). Nik Abdul Aziz said 1,000 traders so far had agreed to use the currency in their transactions besides Tabung Haji and Bank Islam Malaysia. The Kelantan state government had issued RM2 million worth of the gold dinar and silver dirham coins for the public to use as an alternative currency at about 1,000 shops in the state.
Malaysia Prime Minister, Datuk Seri Najib Tun Razak on Saturday commenting that only Bank Negara Malaysia (BNM) can issue currency that is legal tender. Some Malaysian forum also discussing about how this new currency will be effecting Malaysia economies. People will start buying dinar and ringgit value will be dropping. Some Malaysia Chinese also feels that they don't like dinar because it is an Islamic currency. Whatever it is, Gold is far much better then fiat money.
Source: Bernama, Malaysia Star.
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The coins came into circulation kast Thursday and can be purchased at various locations in Kelantan. The gold dinar and silver dirham is managed by Kelantan Gold Trade (KGT), a subsidiary of Kelantan Mentri Besar Incorporated (PMBK). Nik Abdul Aziz said 1,000 traders so far had agreed to use the currency in their transactions besides Tabung Haji and Bank Islam Malaysia. The Kelantan state government had issued RM2 million worth of the gold dinar and silver dirham coins for the public to use as an alternative currency at about 1,000 shops in the state.
Malaysia Prime Minister, Datuk Seri Najib Tun Razak on Saturday commenting that only Bank Negara Malaysia (BNM) can issue currency that is legal tender. Some Malaysian forum also discussing about how this new currency will be effecting Malaysia economies. People will start buying dinar and ringgit value will be dropping. Some Malaysia Chinese also feels that they don't like dinar because it is an Islamic currency. Whatever it is, Gold is far much better then fiat money.
Source: Bernama, Malaysia Star.
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- BNM say no to Kelantan Dinar?
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