Merujuk kepada Dinar dan Dirham Kelantan, Tun Mahathir dalam ucap utama Global Islamic Finance Forum 2010 menyatakan matawang yang bersandarkan emas hanya menjadi Islamik sekiranya ia bebas dari riba.
Saya setuju dengan kenyataan beliau kerana mata wang yang dibenarkan oleh Islam tidak terhad kepada emas semata-mata. Selain emas dan perak komoditi seperti gandum, barli, kurma dan garam juga boleh dijadikan sandaran matawang.
Apa yang penting, sebarang matawang mesti bebas dari riba. Pada zaman Rasulullah saw, kita maklum emas dan perak adalah matawang yang dipanggil dinar dan dirham, tetapi riba tetap wujud secara berleluasa sehinggalah khutbah terakhir baginda, isu riba tetap menjadi penekanan kerana riba masih belum dihapuskan sepenuhnya.
Malah, sekiranya tuan puan terlibat dengan “pelaburan emas” , hanya penjualan tunai sahaja yang halal. Sekiranya, bayar selesai emas belum terima, itu riba. Begitu juga sekiranya emas selamat diterima, tetapi bayar ansur-ansur, itu juga riba.
Gold Backing Of Currency Doesn’t Make It Islamic – Dr Mahathir
KUALA LUMPUR, Oct 26 (Bernama) — Backing currency with gold does not make it Islamic, former prime minister Tun Dr Mahathir Mohamad said on Tuesday.
He said it became Islamic only if transaction in the currency did not involve interest or riba.
“It is not the name that is important. It is the gold backing for the currency, whatever may be its name,” he said in a keynote address at the Global Islamic Finance Forum 2010 here.
He said there were repeated suggestions for the use of gold dinars, and Muslims bankers must not be moved by sentiments alone.
He said people needed also to be conscious that gold prices could change and its value in different countries would differ.
“If we use gold as a currency domestically, the purchasing power will differ with different countries. Besides that, its bulk makes it unsuitable as currency for everyday use,” he said.
Dr Mahathir said when gold was the standard by which currency was issued, it was fixed at US$36 per ounce of gold.
“Today, one ounce of gold worth US$1,400. One US dollar would be equivalent to 1/1400 ounce of gold.
“It would be very tiny if issued in coins. It is not practical to carry gold coins in the pocket,” he said.
He said the place for gold would be in the settlement of international trade as it involved large sums of money and payment in physical gold would be inconvenient because of its bulk.
Meanwhile, Dr Mahathir said there was a great future for Islamic finance but its success would not be because it did not involve payments of interest.
He said its future depended on ethical practices, supervision by governments, avoidance of dubious practices and products, concentration of financing of real business and rejection of betting on futures and manipulation of the market.
“Profiteering must be avoided, and there must be a limit to money creation,” he said.
Dr Mahathir said the sector had found many ways to be profitable without resorting to blatant interest charges but the conventional banks were forever coming up with banking products.
“While it is important that Islamic banks match these products, it should be very careful that the products are ethical, that they truly conform to the tenets of Islam,” he said.
He said proper regulations and supervision by inspectors who themselves must be under supervision was important if the sector was to grow and become a good alternative to the current banking system.
“The Islamic banking system has not yet been abused now but this does not mean it will never be abused. There are as many greedy people among Muslims as there are among the followers of other religions,” he said.
He said the executives should be well-compensated and they must never award themselves unreasonable pay, compensation and bonus.
“These are tough conditions but if they are not met then Islamic finance may meet an early grave,” Dr Mahathir said.