Jom Kita promote duit Asset!

السلام عليكم,

Kawan2,

I know i am not an economist, but i think i am obliged still to spread the beauty of Asset money which is in line with Islamic finance concept that promote honesty in everything that we do.

The advantage of asset money as opposed to fiat money

Definition
-money is reverted to its original concept which is as a representative of an asset
-at the time of Rasulullah saw, money such as dinar for gold and dirham for silver are used.
-similar concept can be applied
-eg: 1 dinar equal to 1 g of gold
1 dirham equal to 1 g of silver
100 dirham equal to 1 dinar eg

Advantage
-this money will be accepted all over the world!
-this is because assets like gold and silver are well accepted all over the world!
-look at iraq, the money used to be of high value, but when it was attacked by the bloodthirsty us, the money was of no value anymore. but with asset money, the money is valid to be used at all time at all places.
-the concept of FOREX is irrelevant now... there would be no more cases of currency deception as in the case of george soros for eg.
-In FOREX money is traded between money! if the money is really based on the same asset, this transaction shouldnt have occured in the first place.
-the oppressing concept of riba'(interest) in today's world will be very apparent if you understand the concept of asset vs fiat money.


Disadvantage
-the effort is still not comprehensive.
-education about this matter is still poor.

I am pretty sure, that there are many2 more advantages or maybe even disadvantages that must be looked at.

But thats why we have to keep on educating ourselves about this matter.

Do not be ignorant (jahiliyyah). Find time, maybe we can all forego anything which is deemed not benefiting for the ummah or mankind, and start educating ourself to be better and hence making the whole world to be a better place for everyone.

I am optimistic that there will be a revival of the asset money if we all stick together to fight against the apparent deception of fiat money in our lives today.

May god reward us all for our effort.