I just found out that in addition to the 4.25g dinar coin, Malaysia will also issue 1/4 dinar, 1/2 dinar, 2 dinar, and 4 dinar coins.
http://www.khilafah.com/home/category.php?DocumentID=7961&TagID=2
Each coin has a gold purity of 91.7%, also known as 22-carat gold.
Weights, and USD value of the pure gold calculated at $12.25/g, are:
1/4 dinar: 1.06g $11.90 1/2 dinar: 2.12g $23.80 1/1 dinar: 4.25g $47.73 2/1 dinar: 8.50g $95.46 4/1 dinar: 17.0g $190.91
However, note this:
The introduction of the Dinar here is as a commodity, particularly for savings purpose and not as currency or legal tender,” Dr Awang told a press conference yesterday.
He said the introduction of Dinar provided an alternative mode of investment for the public who would normally place savings in banks or purchase property or land.
On the other hand:
Dr Awang said there was great potential in expanding the use of Dinar, particularly for the Muslims, such as using them to pay zakat and fitrah, dowries and for pilgrimage to Mecca.
“We are studying the possibility of Islamic institutions such as Tabung Haji, Bank Islam and others allowing their customers to make payments with Dinar,” he said.
-- Patrick http://fexl.com
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