GOLD RAIDS - In Malaysia & Singapore !!!

The Powers that be seemed to be in a "golden" mood nowadays.

Some mainstream news:-
NTV 7
New Straits Times

4 Companies have been raided & it's assets frozen to-date. They are:-
(1) Caesar Gold
(2) Genneva Malaysia Sdn Bhd
(3) Pageantary Gold Bhd
(4) Worldwide Far East Sdn Bhd

Bank Negara Malaysia(BNM) Statement, HERE

I had some experience with 2 of the companies raided.
One had publicize pictures of a Royalty...the King to be precise, gracing their launch event in the Souvenir/Itinerary Booklet(which is then sold to agents as a marketing tool) to the extent that my neighborhood doctor persuaded me to view their operations at The Kuchai Lama area in KL and wanted me to invest...Luckily I did not. In addition, prior to going to the place, I'd contacted one of the Syariah Advisor and he'd asked me to checkout the operations and inform him later of my observations.

Another company I went to in the Setapak area (Read HERE) and had even attended their 1st Anniversary event as a VIP Guest in a KL hotel, informed me that they were in the midst of implementing a similar scheme to the 1st company I went to and was finalising their submissions to the SSM (Companies Commission) for a trust to be created to administer/manage thescheme...I am now wondering what happened to their SSM submissions.

My 177 Dinar Advice - Make Sure You Get ACTUAl Gold Bar(s) and/or Dinar(s) and/or Jewelry when investing in so-called "Gold Investment" scheme.




Comments:
(1) Rumours has it that upwards of RM500m have been invested by "investors" in the 4companies raided by the authorities. Some estimates that upwards of RM1b.

(2) Another rumour has it that The amount invested in gold had the authorities worried as banking deposits and investments in the securities market are affected.

(3) Even another rumour making the rounds is that confidence in paper currency has taken a dive generally with Quantitative Easing 1, 2 and now QE3. This is coupled with the fact that 2 states in the USA i.e.UTAH (2011) and SOUTH CAROLINA (2012)had legalised the use of Gold and Silver as an alternative currency to the USD.
(to be continued)

D&d in INTERNATIONAL TRADE - STRUCTURING of a Mudharabah txn

UPDATE, October 2012: Matters Concluded in 2012.

Amirul HM Consulting & Services(AHM CREATES) had just(3rd Quarter 2011) structured a Mudharabah contract in an International Trade txn involving 2 countries I.e. Malaysia & China.


FACTS of the DEAL:
(1) Reference Currencies:
1. GOLD Dinar & Silver Dirham
2. Ringgit Malaysia
3. US Dollars

(2) Transaction Value:
40 Dinars & Dirham change

(3) Purpose of Al-Mudharabah:
The Mudharabah is for the purchase of vegetables in China, importing it into Malaysia and reselling the vegetables in the Malaysian market.

(4) Profit-Sharing Ratio(PSR)
Classified

(5) Misc. Items
1. Dirham Change: To avoid strict referencing to certain currencies, certain value added matters/services were included.
2. Documents:

Why "SALT" as a Currency??? My Weltanschauung!

During Prophet Muhammad SAW (PBUH) time, HE'd used other types of commodities as currencies apart from the GOLD dinar, SILVER dirham and fulus. Amongst the commodities used were Wheat(Flour/Gandum), Barley, Dates(Kurma) and of all things....... SALT (GARAM)!!!

At times, JUST THINKING about the Gold dinar & Silver dirham would at times lead to certain people displaying "strange" or, "eccentric" behaviour. I've seen both the best or altruist behaviour of MAN(...and WOMAN) and the worst or ugly behaviour of "D&d Activists" aka Dinarist during my travels. Had even had a couple of strange dreams and unique experiences in this knowledge quest.

Many a times, I find myself asking/stating "IF" or, "IF ONLY"!!??? Thus, I'd wondered and would suggest that readers and activists "cleansed" their thoughts once in a while when discussions on the Dinar & Dirham becomes too "intense"...by thinking about the other types of commodities used by our Prophet Muhammad PBUH and WHY!?

In my case, I'd always wondered why "SALT"???

My inner prayers were answered when I travelled into the Royal Belum Rainforrest area (in the State of Perak, Malaysia) late last Year(4th Quarter 2011) and spent some time with the Jahei clan...(1-1.5 hrs by boat fm Pulau Banding to their settlement). The Jahei clan/community leads a simple life...the term "Kais Pagi, Makan Pagi. Kais Petang Makan Petang" applies to this clan...they can't plant stuffs like fruits or vegetables NOT because they are lazy but because circumstances do not permit. If they plant stuffs, elephants will come and wreak havoc....and by the way, somebody was just eaten by a tiger a few days/weeks before I got there.

(Continuing Story). Part 2:
I tried to promote the Gold Dinar & Silver Dirham to the Jahei people when I was asked:

"ini barang Ada magik ke bang? Boleh tolong aku ke kalau kena kejar dengan Gajah atau Rimau? (Is there any magic in this thing? Can it help me if I'm chased by an Elephant or a tiger?).

It was then that I learnt that the clan used SALT as one of their currency apart from other foodstuffs. ....which lead me to the next question - "What the heck do they do with the SALT? "

Simply put, The SALT will be placed in bamboo or wood casing & hung at "popular" areas frequented by animals. When animals licks the salt from the casing, they'll be killed(either by dart, spear, slingshot etc) and wallah, food for the clan - THANKS to SALT! And that, is why salt can be used as a currency!!!

Another point to note: Paper Money is at times used to start a fire especially during wet/rainy season! GO FIGURE!!!

KGT Appoints Wakalah for THAILAND & SINGAPORE

UPDATE 02/12/12:
Qafilah's Website is 'live' at:- www.qafilahgold.com

>>>>>>>

Date : Monday, 18 June 2012 (3.30PM). 1433 Hijrah.
Venue: Kelantan Trade Centre, Kota Bharu
Function: " Halal Convention Based On The Dinar Dirham " (In Conjunction with Islamic World Trade Expo 2012 from 15-20 June 2012).

The Kelantan Golden Trade Sdn. Bhd.(KGT) Signed a MOU with 2 Wakalahs to expand into the overseas market.

The Wakalahs are appointed to distribute the Kelantan Dinar & Dirham in Thailand and Singapore respectively.

QAFILAH RESOURCES(QR) was appointed to be the Wakalah in Singapore. Mr.Faroq Iskandar, Chief Marketing Officer of QR represented both the Singapore and Malaysia operations of QR during the MOU signing ceremony. Dato Husam Musa (Kelantan State EXCO Member) and Board Members of KGT witnessed the signing of the MOU.

SEMINAR DINAR EMAS: Pengukuhan Ekonomi Ummah

Venue: Tun Dr.Ismail Hall, PWTC - KL
Organiser: M.M.Publications

From my observations, the Seminar organised by MMP is more for those just starting to learn about the Dinar and Dirham. The only session worthy of mention for those at the "intermediate" or, "advanced" level is the Q&A Forum at the end of the Seminar.

In future, I would suggest that similarly themed Seminar on Dinar and Dirham should have sessions on:-
(1) History of Dinar and dirham(Dnd);
(2) Characteristics of Dnd;
(3) Dnd Standards;
(4) Way Forward for Dnd e.g. Wadiah, Ar-Rahnu, Transfer & Settlement Mechanis etc.

Refer Original Post at:- halalfinancing.blogspot.com

Note: I would like to convey my utmost appreciation to KGT & MMP for the kind invitation to attend the Seminar. Syukran.

KEDAH Darul Aman, 3rd State to Introduce Dnd

On 15 July 2012, Kedah Darul Aman will be the 3rd state in Malaysia after Kelantan(2006) and Perak(2011) to introduce the Gold Dinar and Silver Dirham.

The coins will be issued in conjunction with Sultan Abdul Halim Muad'zam Syah 50th year of reign.

For the 1st time, a 20 Dinar coin will be introduced in Malaysia (...and PERHAPS the World!?). The Gold Dinar will be available in 3 denominations I.e. 2, 8 and 20 Dinars. Whilst the 5 and 10 Dirham coins will be made available for the Silver Dirham.

As reported in the Press - Initially, 200sets will be made available by K-Gold Sdn.Bhd ( a JV company between the State Government & a private entity).

Read:-
(1) The Star

#49 in WORLD Gold Reserves Ranking - MALAYSIA

MALAYSIA is NO.49 in the World with respect to our Gold Reserves as at January 2012.
( Read, http://www.relbanks.com/rankings/world-gold-reserves )

The ranking DOES NOT concern me, what I'm concerned about are:-
1) The actual tonnage that Malaysia holds I.e. approx.37 tonnes.
2) Gold percentage as a percentage of Malaysia's Forex Reserves I.e. 1.5%

To be crude Malaysia's Ringgit is part of a massive, legalised "Pak Man Telo" scam.

Why do I say that!!!???
Ringgit is backed by a basket of currencies. Though the % holdings are never known, it's a "no-brainer" that the "usual suspects or culprits" held as reserves by BNM are the US Dollar, European EURO, Japanese Yen & Chinese Yuan.

Most of these currencies' economies are to put it mildly in "deep shit". USA with it's various Quantitative Easings (QE 1, 2 etc), Europe with the PIIGS economies bankrupt or almost there coupled with slow or negative growth, record unemployment and Japan with fractional growth.

You can relate this to the 2008/2009 Sub-Prime crisis, where financial instruments of a lower financial rating e.g. BBB+ are put/bundled together and given a higher rating e.g. A or, AA by the Rating Agencies like Moodys, Fitch etc ( paid by Investment banks) and sold
immediately to the money/financial market by these banks not wanting to keep this repackaged instruments as an "On Balance Sheet" item.

NOW, replace certain words in the above statement with the following:-
Forex = Sub-Prime
Currency = Financial Instruments
Country Rating = Financial Rating
Country/Nation = Investment Banks / Banks
GDP/GNP = On Balance Sheet Item.

......and wallah!



Yet, the currencies of these troubled economies are "Propping Up" or, forming the backbone of our Ringgit.