Gold dinar - a new tool of globalization?

It is assumed that the company E-dinar Ltd uses only physical assets, ie in the storage of as much gold bullion as necessary to meet the requirements of all holders of e-dinar. For obvious reasons, the system does not credit the customer, and the customers are not lending system. Gold reserve of moves only in the calculation of $ 100 thousand in the equivalent or more. To become a customer of the company, you need only fill out a registration form on the website E-dinar Ltd, after which you will assign an account number. If desired, you can convert your cash, for example, sending a payment of $ 500 to the account of E-dinar Ltd bank Standard Chartered Bank (New York), and then to your account in the company's E-dinar Ltd enroll a certain amount, expressed in e-dinar equivalent to 4.25 grams of gold. The only question is - how much do you trust to the company that can exchange your money back. Graphical design, the proposed E-dinar Ltd, can be represented as follows.

Interestingly, the opening of accounts in electronic dinar do not require a passport or other identity document. Of course, the client fills out a card, but in many countries, with bank transfer employees do not require identity documents, so there is no guarantee that the client will show true data.

Thus, the system can be e-dinar money anyone interested in this person, and can then be transferred to any other client systems, which optionally can redeem them. Naturally, the system E-dinar was just a phenomenal success. During the first years of the accounts were opened 300.000 customers in 160 countries. According to preliminary estimates, the storage contents belonging Edinar, over 10 tons of gold.

Gold dinar and silver dirham

Another important development for the Islamic dinar was the official ceremony of the issuance of gold dinar and silver dirham, which was held in November 2001 in Dubai. First coins were made for circulation and distributed through official channels through Thomas Cook and Dubai Islamic Bank. Thus, the gold dinar is issued and in circulation in one of the provinces of offshore Malaysia and the UAE. Created and approved payment system, which although it has, from the point of view of Europeans, a number of significant deficiencies (eg, account balances in the system E-dinar only and no fee is charged per cent), but allows to observe a high level of confidentiality of payments under certain circumstances is very convenient. The technical infrastructure for the introduction of the gold dinar is already created. There is even a store, partially filled with gold. Lacking only the Government for Islamic political will to promote the project.

Who will participate in the project?

The question of the participating countries <gold dinar> very meticulous. Would not want to jump the gun and jump to conclusions, but the potential participants of the gold dinar are so far only Malaysia, Saudi Arabia, UAE, Kuwait, Qatar, Bahrain and Oman. All these states expressed the need for a common currency by 2010.