25 January 2011 - I attended a Public Lecture presented by Volker Nienhaus from Germany titled "Building Blocks of Islamic Finance: Regulation & Shariah in Perspective".The talk is part of the SC-UM Visiting Scholar programme in conjunction with the Islamic Capital Market initiative.
During the Q&A Session, Rizwan (if I'm Not mistaken) from Nomura posed 2 questions...one of which is a query/suggestion. He referred to Volker's presentation which alluded to the fact that one of the main differences between Islamic Banking & Finance and Conventional Banking & Finance is the usage/backing of real assets for transactions. Hence, why can't the same principle be applied to currency/fiat money.
Rizwan's comments is one of the main arguments put forward by Dinarists in making the case for the introduction of an Islamic Gold Dinar & Islamic Silver Dirham currency. The calls made by people from all walks of life for the advent for a Dinar/Dirham can be heard repeatedly in all Conferences and Talks on IF held in Malaysia for the past couple of years.
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