Islamic money [DINAR-GOLD COINS OR DHIRHAM- SILVER COINS OR SOME FORM OF TRADE BY BARTER] is Halal while non Islamic money such as paper money is Complete Haram just like AS interest because it does not have INTRINSIC value in it. SO, What is the stand of Islam on muslims USING PRINTED PAPERS as Money TODAY?

asked 34515 Bani%20Hashim's gravatar image
edited Feb 05 '13 at 20:18

@Bani Hashim, good question.

I thing you don't know how paper money operates in Islamic Countries. In Islamic countries we still follow the same but the thing is you don't know it. In Islamic Countries, State Bank only prints money according to the GOLD available in Government Funds. So that instead of GOLD coins citizens use paper money, but that paper money has a value. In islamic countries, governments don't print money as much as they want, but they deposit GOLD and according to the value of GOLD they print money.

Hope you are now clear.

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answered 1.2k16 believer's gravatar image
edited Feb 03 '13 at 07:54

But world economies are tied to the US dollar & US dollar is the currency of settlement by breton woods standards we are still aback, being ripped-off by countries that print what they want. For instance without the Gold Standard, what made US Dollar Hard currency, since it is only a sheet of paper? Anyway that aside, Islamically speaking, what is called Money or Halal Money MUST have It's value in it (i.e. it must have intrinsic value. Any other thing like ordinary Paper [with or without backing] Islamically is still Haraam. So what's the Stand of a Muslim using this Haraam paper Money today?

(Feb 03 '13 at 14:08) Bani Hashim Bani%20Hashim's gravatar image

Its not haram brother, but if you are not ready to understand then no one can explain you. In Islamic Countries, paper money has a value because of GOLD deposited. Its same as you are buying and selling with GOLD coins, paper money is lighter then GOLD coins and they are very handy. Also the whole world is using and you can not do transactions with GOLD coins. If it was haram, then we muslims would not be using it.

(Feb 03 '13 at 14:31) believer ♦ believer's gravatar image

As Salaam. In Islam is like this: You gold in your possession not as a certificate, your silver too in your possession not certified to the effect that you have such and such equivalence somewhere and must have intrinsic value. you know the value of gold is in it, so is silver or even if you use date to salt as money their values are in them....as you know dates and salt were used as money or even barley. That is the Islamic stand that i know but the banking system is still kufr system. remember how christendom fight the jews trying to create bank way back in history?

(Feb 03 '13 at 15:26) Bani Hashim Bani%20Hashim's gravatar image

Paper money is not a certificate but it has a worth. Brother no one is forcing you, you can buy GOLD and posses it. The thing is if you want to buy a thing worth $ 1. So how will you deal with it buy possessing GOLD coins? Also paper currency reduces fraud because it has a registered number on to it and if someone steal money from you the police can find him through that number, however if someone steal gold from you he can sell it without any problem.

And brother now you are providing answers to defend your thought for your own question as if you wanted a debate. Brother, if you are not agreed to paper money then I can only say that you should buy GOLD coins and try to do transactions with it, pay tuition fee, pay your bills, leave bank, cancel your debt card, buy bus tickets with GOLD coins and everything.

Don't feel brother that I am rude, I am just trying to clear your doubt. Don't look only at the demerits of paper money but the benefits as well.

Plus we are using the same system by backing it with GOLD.

And banking is totally different, don't you know there were private banks as well before paper currency. They were Goldsmiths and they took interest over the GOLD they loan to others.

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answered 1.2k16 believer's gravatar image

In as much as you are under the supervision or membership of these kuffar so called world bodies namely, World Bank, IMF and Co. you cannot be free from the rip-offs [Dhulum] that the paper money brings whether [backed with Gold or otherwise] you can't be free and that is the Biggest problem of the present day So-Called Islamic Banking because they have to use Paper Money as Money instead of what the islamic jurisprudence spells or called money and how any other form will be Haraam. Islam has its ways of trading and has what is allowed and what's not. Paper Money is not & Paper money is Haraam

(Feb 04 '13 at 11:00) Bani Hashim Bani%20Hashim's gravatar image

In fact, the so called Islamic banks can't even use Gold as Money even if they want to, in order to satisfy [the Islamic tenets as non-interest banks] and the Islamic Banks know this. You can ask the people of Knowledge in this field, they will tell you the something. What People don't understand is that one of the Articles of IMF forbids the Use of GOLD as Money. And you know what that means if you violate it!

(Feb 04 '13 at 11:24) Bani Hashim Bani%20Hashim's gravatar image

Brother I don't have to ask an expert because I studied it deeply. And IMF is a body which gives money to poor countries on interest and bound those countries with their agreements to actually disestablished them or to made them their slave, they do total haram as they don't follow Islamic Shariah. Actually I personally don't like the term "Islamic Banking" as they are not total Islamic. Brother, banks don't have a choice to use GOLD or Paper they have to deal with the currency of local government. If a Govt. use silver/gold coins, the bank will also do. Bank provides service and nothing more.

(Feb 04 '13 at 12:04) believer ♦ believer's gravatar image

What you might take lightly is very significant. It is easy to say: ["IMF is a body which gives money to poor countries on interest and bound those countries with their agreements."] I'm actually yet to see a country in the world today that stands on its own without being subscribed to this so-called world bodies: UN, IMF, WORlD BANK etc and got bound by their charter, articles, agreement or whatever and if you think there is one country on the globe that does not subscribe to this kufr ways name it. There used to be only Switzerland before now I know but can you name anyone now?

(Feb 04 '13 at 18:40) Bani Hashim Bani%20Hashim's gravatar image

No you can't. And do you think Muslim Nations being subscribed to this kufr ways are independent, NO. At the Helms of affairs of this World is the Kufr System embedded in the UN from where all these so-called world bodies sprang up. Obedience to its charter is a MUST for Subscribers and is Supreme for all Nations. Muslim Countries already stray from here because UN Law is Supreme God's Injunction.

(Feb 04 '13 at 19:03) Bani Hashim Bani%20Hashim's gravatar image

If you observe there is not to be a Muslim Nation who would be Permanent Member of the Security Council [their 'supreme body'], they are all to be GA members. From time to time they may be nominated for a term of 2 years but, what can they do with US, UK, FRANCE, Russia and China on board. And so Muslim Problems will continue to linger at the mercy of this Kuffar Body (UN) and her children - World Bank, IMF and Co. I know this is tough but we are like derailing. The Question is What is the Stand of a Muslim who uses Paper as Money since paper doesn't have the REQUIRED INTRINSIC VALUE!!!

(Feb 04 '13 at 19:21) Bani Hashim Bani%20Hashim's gravatar image

Thank God you talked about the question because we all know what is IMF and UN and how they work and what they are doing. So to the question, Brother I am only telling you that Paper Money is not haram, you can say that paper money is not effective than Gold or Silver for the economy or its not the currency used in Khilafa. But its not haram.

(Feb 05 '13 at 11:28) believer ♦ believer's gravatar image

IT'S HARAM

(Feb 05 '13 at 18:31) Bani Hashim Bani%20Hashim's gravatar image
showing 5 of 8 show all
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Paper Money Is UNDOUBTEDLY HARAM In Islam BECAUSE IT DOES NOT HAVE INTRINSIC VALUE. IT IS JUST A MERE RIP-OFF PAPER WHETHER OR NOT IT HAS A PROMISE TO PAY OR AN ASSUMED EQUIVALENCE OF CERTAIN VALUE KEPT IN STORE, TREASURY OR SOMEWHERE FOR THE HOLDER SINCE THAT VALUE IS CERTAINLY NOT IN IT [THE MERE PAPER, COLOR AND NUMBER] THIS IS HARAM IN ISLAM.

For Money To Be HALAL In Islam, It MUST have INTRINSIC Value. IN OTHER-WORDS IT MUST UNCONDITIONALLY CARRY ITS VALUE ALONG WITH IT OTHERWISE IT IS HARAM MONEY FOR REAL.

GOLD, SILVER, SALT, DATES OR ANY COMMODITY TO BE USED AS MONEY IN ISLAM MUST HAVE INTRINSIC VALUE. ITS VALUE MUST BE IN IT. THIS IS WHAT THE KUFFAR DO NOT WANT YOU TO DEMAND FROM THEM IN TRADE EXCHANGE, BECAUSE THEY DO NOT HAVE ENOUGH TO OFFER THAT WILL MAINTAIN THEIR FAKE STATUS QUO WITH VERY BIG DEFENSE SPENDING TOO. THEY KNOW YOU ARE RICHER AND SO HOW WOULD THEY APPEAR TO BE RICHER THAN YOU AND KEEP EXCHANGE AND TAKING YOUR RESOURCES FOR FREE? THEY THUS DEVICE A RIP-OFF SYSTEM [PAPER MONEY]. A SITUATION WHERE THEY TRADE ORDINARY PAPER FOR ALL YOUR RESOURCES INCLUDING OIL. THIS PAPER WHICH USED TO BE BACKED UP [HARAM THOUGH] WAS LATER ABOUT 1971 TO BE TOTALLY UNBACKED PAPER, THUS RENEGING ON THEIR AGREEMENT TO BACKED IT UP. TODAY THEY ISSUE YOU A MERE PAPER AS PAYMENT FOR ALL YOUR GOODS AND SERVICES. YOUR COUNTRY'S RESERVE IS IN THIS WORTHLESS PAPER WHICH MEANS NOTHING. THEY DON'T EVEN GIVE YOU THE MANY PAPERS, THEY KEEP BOOKING CREDITS AGAINST NAMES OF NATIONS AND IMPOSING WORTHLESS PAPER ON THEM AS MONEY OR THAT YOU HAVE TRILLIONS OF US DOLLARS IN RESERVES, HOW? BOGUSNESS! THE PAPER THAT MAY SOON COLLAPSE IN THE EVENT OF A CERTAIN WAR WHICH HAS ALMOST BEGAN.
NO, NO ISLAM DOES NOT OPERATE UNDER THE GUISE OF BOGUSNESS AND RIP-OFFS. GOD MAKES ISLAM TO ENCOMPASS EVERYTHING, IT IS A COMPLETE WAY OF LIFE AND WHAT SHOULD BE CALLED MONEY OR RIP-OFF IS ALSO NOT LEFT OUT. IT IS THE PRESENCE OF INTRINSIC VALUE IN COMMODITY THAT MAKES IT TO BE CALLED MONEY, SO MUCH OF A CONVENIENCE, THERE IS NO ANY OTHER ALTERNATIVE. MUSLIMS TODAY ARE USING BOGUS PAPER AS MONEY, THIS IS AS A NECESSARY EVIL JUST LIKE LOANS, MORTGAGES AND BANK INTEREST PAID IN CERTAIN CASES. MUSLIMS SHOULD TRY TO DEVICE A WAY OUT OF THEM BEFORE DEATH OVERTAKES THEM. IN THE LEAST, LET DEATH OVERTAKES YOU WHILE YOU ARE STILL STRIVING TO DUMP THESE INSTITUTED HARAM ALONG WITH THEIR CREATORS AND THEIR SO-CALLED WORLD BODIES AND REVERT TO YOUR ORIGINAL ISLAMIC MONEY.

SUBHAANAL LAAHI WABI HAMDIHI. SUBHAANAKAL LAAHUMMA WABI HAMDIKA, ASH HADU ALLAA ILAHA ILLAL LAAHU ASTAGHFIRUKA WA ATOOBU ILAYK.

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answered 34515 Bani%20Hashim's gravatar image
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Asked: Feb 02 '13 at 22:47

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Last updated: Feb 21 '13 at 18:09


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