Investing in Gold and Achieving Our Glory
 
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Money in various forms is as a tool of trade exchange which has been known for thousands of years ago as in the history of ancient Egypt around 4000 BC - 2000 BC. In its more standard, gold and silver money were introduced by Julius Caesar of the Romans around 46 BC. The king was also introducing a conversion standard of gold into silver, and vice versa with a ratio of 12: 1 to silver to gold. This Julius Caesar standard applied elsewhere in the Europe for about 1250 years ie until the year 1204.

In the rest of the world in the Muslim world, gold and silver, known as the Dinar and Dirham were also used since the beginning of Islam for both activities "muamalah" and worship such as zakat and diyat until the end of the Ottoman Turks in 1924.

Standardization of Dinar and Dirham weight followed the Hadith of the Prophet Muhammad. "Weight is the weight of Mecca resident and dose is the dose of Medina resident" (Narrated by Abu Daud).

At the time of Caliph Umar ibn Khattab about the year 624 AD, created a weight standard of the relationship between gold and silver money which was standardized the weight of 7 dinars equal weight of 10 dirhams.

From the dinars stored in the museum after an accurately weighed in the scales, it is known that the weight scales 1 Dinar issued at the time of Caliph Abdul Malik bin Marwan is 4.25 grams, this weight equals the weight of currency called Solidos Byzantine and Greek currency called drachmas.

Until the mid of 13th century in both the Islamic and non Islamic countries, history shows that gold coins which are relatively standard were widely used. This was not surprising because since the beginning of its development, gold coins began to apply in many parts of the world, such as the Republic of Florence in Italy in 1252 to print its own money called the gold Florin, followed by the Republic of Venice with Ducat's name.

In the end of 13th century, Islam began to spread to Europe with the establishment of the Ottoman caliphate and historical milestones achieved in 1453 when Muhammad Al Fatih conquered Constantinople. During the 7th century from the 13th century to early 20th century, the Dinar and Dirham were the most widely used currency. The use of Dinar and Dirham covered the whole of Ottoman rule that covered three continents, southern and eastern Europe, northern Africa and parts of Asia.

When coupled with the previous heyday of Islam that start from early prophetic Prophet (610) then the overall Dinar and Dirham were the longest modern currency  (14th century) in human history.

 


02/06/2015 22:29

This Julius Caesar standard applied elsewhere in the Europe for about 1250 years ie until the year 1204.

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