They knowingly speak a lie concerning Allah” and the Qur’an also says: “they sold him for a few dirhams” (Qur’an, 12: 20).ĭuring the early Islamic era, the Byzantine dinar, that weighed one mithqal (a unit of weight, equal to about five grams) was the currency used by people in their exchanges. That is because they say we have no duty to the gentiles. Both are mentioned in the Qur’an (3:75) “Among the people of the scripture there is one who if you trust him with a weight of treasure, will return it to you and among them there is one who if you trust him with dinar, he will not return it to you unless you keep standing over him. He approved the use of dirham and dinar as money. When Islam came, the Prophet did not change the weights that were current in Makkah. Arabia used both dinar, the Byzantine currency, and the dirham, the Persian currency. These names were also used for gold and silver coins. The value of this money was determined by the value of the metal content so that it was accepted publicly.ĭuring the pre-Islamic era two weights, dinar and dirham, were used to weigh gold and silver. Money, as it is known today, first appeared in the form of coins made of gold, silver and other metals or alloys. To determine the measure and value of these metals, the state (sovereign) had to seal a quantity of them in the form of coin, which could be used by people in their exchanges. These metals were used for a long time before the advent of paper money. that it can be stored and carried easily įor these reasons, the use of precious metals like gold and silver became widespread.Among the necessary qualities of what may be used as a money are Estimating their equivalent value in modern times is necessary for the study of the economic history of Muslims and the economic system of Islam.Īn amazingly wide range of things has been used as money in different societies, at different times in the past. A few decades after the conquest of these empires, the Islamic state began to mint the Islamic dinar and dirham. The dinar (gold) was the currency unit in the Byzantine empire and the dirham (silver) in the Persian empire before Islam. The currencies in ancient time were metal coins, particularly gold and silver. Money has long been a medium of exchange, a standard of payment, the unit of account and a store of value.
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