A propose of same currency for all Muslim country.

[Abdul_Jalil]

Now the American dollar is use all over the world for trade and another exchanges. The countries of whole world relay this only currency. As a result we face many problems. Such as Economic sanctions, deficit of dollar, high cost of dollar etc. So we should make another currency for whole Muslim ummah and can use international exchanges. The European Countries use euro for their trades and other purposes. The all European countries easily accept this currency. So we should avoid dollars and it is badly in need to make our own currency for Muslim ummah and Insh Allah all Muslim country will easily use it as like Euro. It will help us to international exchanges, improve our Unity, and can safe not only our Turkish, Iranian brothers but also another country like Venezuela, North Korea etc. who are under sanctions.

@Imran Khan, @bilal khan, @Uk bengali,@ Dawoed Ibrahim, @Bilal9, @The Ronin, @Waonglaokan, @Kamil_baku and others.

 

[war&peace]

Ideally all Muslim countries should have a single currency like EU has euro.

 

[BHarwana]

Nope no need to give our breed and butter into the hands of others our own currency with the picture of Quaid is good.

 

[newb3e]

Ideally all Muslim countries should have a single currency like EU has euro.

nope too many sell off traitors in our rank.

 

[Shabi1]

General Gaddafi tried that and look where he is now.
https://www.thenewamerican.com/econ...-gold-money-plan-would-have-devastated-dollar

However idea of a gold backed currency is not dead yet.

 

[Kambojaric]

Currency's are far more than symbolic items. The Eurozone has been a prime example of how richer countries can mess up smaller ones. Smaller nations like Greece and Portugal which in other scenarios would have devalued their currency such as during the financial crises of 2008/09, had to instead contend with having an extremely high valued currency (EURO) which made exporting products and thereby boosting their economy difficult for them.

High value currency means your products become more expensive and theoretically less competitive in the global market but importing prodcuts become cheaper. This works great for countries like Germany, France which import cheap raw materials, turn them into products using their advanced technological base, before exporting and selling them on the global market for a profit using their brand (German cars are prestigious in large parts of the world for example). However countries with small industrial bases and low competitiveness such as Greece were screwed over by this.

In a hypothetical Muslim currency, countries such as Saudi and Qatar would lobby to make the currency value higher as oil and gas are only produced by a select few countries in the world in significant quantities. A high valued currency meanwhile would make the import of luxury items cheaper for the rich citizens of these countries. Meanwhile countries like Pakistan and Uzbekistan would be lobbying to reduce the value of the currency so as to boost their under pressure exports, especially as the numebr of rich indiviudals who can afford high luxury products in such countries are more limited.

Overall it would be a shi*storm, as nobody would be able to come to a conclusion due to hugely varied socio-economic strucutres in societies across the Muslim world.

 

[Fawadqasim1]

Nope no need to give our breed and butter into the hands of others our own currency with the picture of Quaid is good.

But sir its going down.

 

[jamahir]

General Gaddafi tried that and look where he is now.
https://www.thenewamerican.com/econ...-gold-money-plan-would-have-devastated-dollar

However idea of a gold backed currency is not dead yet.

Yes, Colonel Gaddafi's Gold Dinar plan for all Arab and African countries was seen as a threat by Western governments and was one of the reasons for regime change in Libya.

 

[war&peace]

nope too many sell off traitors in our rank.

That's why I said ideally...

Currency's are far more than symbolic items. The Eurozone has been a prime example of how richer countries can mess up smaller ones. Smaller nations like Greece and Portugal which in other scenarios would have devalued their currency such as during the financial crises of 2008/09, had to instead contend with having an extremely high valued currency (EURO) which made exporting products and thereby boosting their economy difficult for them.

High value currency means your products become more expensive and theoretically less competitive in the global market but importing prodcuts become cheaper. This works great for countries like Germany, France which import cheap raw materials, turn them into products using their advanced technological base, before exporting and selling them on the global market for a profit using their brand (German cars are prestigious in large parts of the world for example). However countries with small industrial bases and low competitiveness such as Greece were screwed over by this.

In a hypothetical Muslim currency, countries such as Saudi and Qatar would lobby to make the currency value higher as oil and gas are only produced by a select few countries in the world in significant quantities. A high valued currency meanwhile would make the import of luxury items cheaper for the rich citizens of these countries. Meanwhile countries like Pakistan and Uzbekistan would be lobbying to reduce the value of the currency so as to boost their under pressure exports, especially as the numebr of rich indiviudals who can afford high luxury products in such countries are more limited.

Overall it would be a shi*storm, as nobody would be able to come to a conclusion due to hugely varied socio-economic strucutres in societies across the Muslim world.

The concept of currency in Islam is very different. It has be something with intrinsic value...not the fake currency notes / bills what we are using now.

 

[BHarwana]

But sir its going down.

So making one currency means that we are shifting from dollar to yuan and then again one currency means being stuck back in dollar?

 

[Imran Khan]

man in which world w are living there is no Islamic thing . Islamic countries have huge differences between them
then arab countries fighting each-other like mad dogs
and middle of that gulf Arab countries are not happy with each other even tiny states have ego .

i will be happy if saarc countries or SCO countries have one currency ,

 

[RoadRunner401]

Muslim currency? please tell us all, how you will achieve this Muslim currency when the so called Muslims (house of saud) are the ones keeping Petro-dollar a power.

 

[Fawadqasim1]

So making one currency means that we are shifting from dollar to yuan and then again one currency means being stuck back in dollar?

Yes
sir but our currency is going down it has deprecate by about 17% in 8 months and it will go down 40 to 70% if us slapps sanctions on us. SO IT MAY SOMEWHAT SHIELD SANCTIONS PRONE COUNTRIES LIKE US.
THAT'S WHY I SUPPORT LONG RANGE BALLISTIC MISSILES AND H BOMBS.

Yes, Colonel Gaddafi's Gold Dinar plan for all Arab and African countries was seen as a threat by Western governments and was one of the reasons for regime change in Libya.

Absolutely bullseye

 

[925boy]

That's why I said ideally...


The concept of currency in Islam is very different. It has be something with intrinsic value...not the fake currency notes / bills what we are using now.

Eutopias are usually unrealistic to consider. lol

 

[T-Rex]

In order to free the world from the US hegemony the influence of dollar in the world market must be cut to the minimum if not zero. China and KSA are the two greatest contributors to dollar's strength in the world market and these two countries have not yet shown any intention of curbing that. The rest are just slogans without substance.