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- Money_in_Islam abstract "The free market principle is an Islamic principle. Islam considers commodities with intrinsic value as currency. Following are some examples of commodities used as currency: Gold, Silver, Rice, Dates, Wheat, Barley and Salt. Paper money or electronic money can be used as long as it is backed by one of these commodities at a fixed exchange rate (in other words the paper is just a contract stipulating that the bearer can redeem the paper for a fixed measure (weight) of that particular commodity). Until 1971 most currencies of the world were backed by gold. However, only governments could redeem paper, not the average citizen.The price of a commodity is set by the market as long as fiat currency (paper) in not used. On the other hand the price/value of commodities can be manipulated/adjusted by the creators of fiat money (by virtue of the market law of supply and demand).".
- Money_in_Islam wikiPageID "29686344".
- Money_in_Islam wikiPageRevisionID "589954214".
- Money_in_Islam hasPhotoCollection Money_in_Islam.
- Money_in_Islam subject Category:Gold_standard.
- Money_in_Islam subject Category:Money.
- Money_in_Islam subject Category:Numismatics.
- Money_in_Islam comment "The free market principle is an Islamic principle. Islam considers commodities with intrinsic value as currency. Following are some examples of commodities used as currency: Gold, Silver, Rice, Dates, Wheat, Barley and Salt. Paper money or electronic money can be used as long as it is backed by one of these commodities at a fixed exchange rate (in other words the paper is just a contract stipulating that the bearer can redeem the paper for a fixed measure (weight) of that particular commodity).".
- Money_in_Islam label "Money in Islam".
- Money_in_Islam sameAs m.0fq0vzh.
- Money_in_Islam sameAs Q6899252.
- Money_in_Islam sameAs Q6899252.
- Money_in_Islam wasDerivedFrom Money_in_Islam?oldid=589954214.
- Money_in_Islam isPrimaryTopicOf Money_in_Islam.