Islamic Coin: The Resistance of Muslim Countries to Mint Sunnah Currency Gold Dinar & Silver Dirham Coins
Sunnah Currency has encountered a significant amount of opposition, in particularly, by state-owned gold refineries in Muslim countries that refuse to mint the gold dinar and silver dirham coins, specifically the kind that were commissioned under the edict of Umar Farooq (RA), any coins with the inscription 'Dinar or Dirham' on them, or weights commissioned by Umar Farooq (RA) or any mention of 'ONE KHILAFAH under ONE UMMAH' has been met with copious amounts of resistance, being unapologetically islamic in the minting of legal tender seems to be frowned upon, with a policy to ensure the initiative does not see the light of day within their borders.
We understand that Sunnah Currency has a very poignant message underlining it, one that would scare and threaten the autonomy or the autocracy of muslim nations, but SC remains unwavered about it's message for the Muslim-world. With your du'as in'Shaa'Allah we will continue to carve a path out to help revive this significant and poignant sunnah by the will of the All-Mighty Azawajal.
In a world dominated by failing (riba-laced) fiat currencies, the topic of alternative forms of currency is becoming increasingly relevant. Gold dinars & silver dirhams are chief among the pure alternative forms of currency, while holding a special place in the hearts of Muslims world-over, not withstanding the fact that these coins were commissioned and standardised by the second Khalifah of Islam Umar Farooq (RA), but more importantly, these coins are considered "Sunnah currency," as they were in fact utilised as a store of value and a medium of exchange for goods and services by our beloved Prophet (SAW) himself. Despite their importance in both Qur'an and in the Sunnah, many Muslim countries have yet to revive and adopt these coins into their financial infrastructure, this article will delve into some of the reasons behind the political resistance SC faces in our quest to revive and mint gold dinars and silver dirhams taken from the 'prevalent standardised monetary system' implemented by the khulafah e Rashidin.
The History of Gold Dinar and Silver Dirham:
To understand the importance of gold dinars and silver dirhams in Islam, we need to look at their history. These coins were used during the time of Prophet Muhammad (SAW) in the Arabian Peninsula. At that time, they were used as a medium of exchange for goods and services. During the reign of Umar Farooq (RA), the second Khalifah of Islam, these coins were standardised and minted in large quantities. They were used as the official currency of the Islamic state until the fall of the Ottoman Empire.
The Importance of Gold Dinar and Silver Dirham
The use of gold dinars and silver dirhams is not only significant from a historical perspective, but it also has religious significance. Muslims believe that the use of these coins is in accordance with the teachings of Prophet Muhammad (SAW), who emphasised the importance of using gold and silver as a medium of exchange. Additionally, the use of these coins helps to counter the inflationary tendencies of fiat currencies and promotes stability in the economy.
Political Resistance to the Use of Gold Dinar and Silver Dirham
Despite their importance, many Muslim nations have been hesitant to embrace the use of gold dinars and silver dirhams. The main reason for this is the political resistance faced by these countries. The following are some of the factors contributing to this resistance:
Economic Dependency on the United States
Many Muslim countries are heavily dependent on the United States for economic aid and support. The use of gold dinars and silver dirhams would undermine the US dollar, which is the world's primary reserve fiat currency. This would put these countries at risk of losing their economic support from the United States and decentralise their economy from proxy control.
Fear of Economic Sanctions
The United States has a history of imposing economic sanctions on countries that do not comply with its policies. The use of gold dinars and silver dirhams would make these countries more vulnerable to economic sanctions, as it would undermine the US dollar and its position as the world's primary reserve currency.
Lack of Infrastructure
The use of gold dinars and silver dirhams requires the development of a new infrastructure. This includes the construction and design of new mints, the development of a well oiled distribution network, and the establishment of regulatory framework that was standardised by Umar Farooq (r.a) under a shariah compliant board made up of scholars like the Islamic Monetary Council -IMC. Many Muslim countries lack the political will to implement this beautiful sunnah into their financial and monetary system.
As much as there is to be discussed on this issue, it remains complex and rooted in political, economic, social, and colonial factors. The attempts by SC to create authentic gold dinars and silver dirhams has been met with opposition and resistance by certain nations. Although these coins could promote economic stability, their implementation necessitates significant political backing and support from the Muslim Ummah.
The world continues to grapple with the deficiencies of haram fiat currencies, for the Muslim Ummah its essential to turn away from this impending disaster, which could result in the "biggest swindle of the Ummah's wealth in a millennia. "We should preserve the it, by storing and safeguarding it in sunnah money, specifically in gold dinars and silver dirhams. The path forward is a difficult one, littered with resistance top-down, with all nations toeing the party-line for CBCD's inline with the 2030 Agenda, its important for Muslim nations to explore the revival and re-use of Islamic Coins (Gold dinar & Silver dirham) in its lieu, as a means of promoting economic stability, preserving the the Ummah's wealth and it's autonomy above and out the way of the scheming of the undesirables within our Ummah, therefore pivoting away from the economic stranglehold this trojan-horse has been set up to eventually segway into, may Allah Azawajal protect the Ummah from this snare nauzubillah min zaalik , the Muslim world needs to counter the offensive of CBCD's by returning back to the sunnah and reviving our Islamic monetary system, that has always been prevalent during the reign of the Khulafah-e-Rashidin all the way up to to last standing khilafah.
- What is the significance of gold dinars and silver dirhams in Islam?
- Gold dinars and silver dirhams are considered to be the "Sunnah currency" due to their religious significance. Muslims believe that their use is in accordance with the teachings of Prophet Muhammad (SAW).
- Why are many Muslim countries resistant to the use of gold dinars and silver dirhams?
- The resistance is due to a variety of factors, including economic dependency on the United States, fear of economic sanctions, lack of infrastructure, and political will.
- What are the benefits of using gold dinars and silver dirhams?
- The use of these coins helps to counter the inflationary tendencies of fiat currencies and promotes stability in the economy and prevents proxy control of the financial infrastructure by decentralising its finances .
- What is the history of gold dinars and silver dirhams?
- These coins were used in the time of Prophet Muhammad (SAW) in the Arabian Peninsula. They were standardised and minted in large quantities during the reign of Umar Farooq (RA), the second caliph of Islam.
- How can Muslim nations overcome the political resistance to the use of gold dinars and silver dirhams?
- Overcoming the resistance requires significant political will and the development of new infrastructure. It is important for Muslim nations to continue to explore the use of these coins as a means of promoting economic stability and preserving our religious heritage.