ONLY GOOD AS SOUVENIRS: Only Bank Negara has the power to issue syariah gold coins as legal tender, says state mufti
KOTA BARU: THE Kelantan syariah gold dinar and silver dinar are not legal tender as the state government has no authority to issue a currency, said state mufti Datuk Mohamad Shukri Mohamad.
Shukri said under the division of power between the state and Federal Government, only the federal authority, namely Bank Negara, had the power to issue the legal tender.
"Many people are angry with me for making this same statement earlier, but actually, I was just clarifying the matter so that the people understand the issue.
"Personally, I think the buyers know this and they buy the coins merely to keep them as souvenirs or investment, just like they buy gold jewellery at goldsmiths.
"Although some parties have insisted that the coins were syariah currency as they have fulfilled the requirements, they are still not legal tender.
"The coins can only become currency if issued by Bank Negara," he said yesterday.
Shukri was commenting on the controversial dinar and dirham issued by the state government-linked company, Kelantan Golden Trade Sdn Bhd (KGT).
The issue came into the limelight after it was revealed that three police reports had been lodged against a former senior official of the company for various misdeeds.
On a suggestion by former KGT executive director Nik Mahani Mohamed for the issuance of the dinar and dirham to be put under the purview of Sultan of Kelantan or the state baitulmal, Shukri said there was no necessity for it at present.
"As long as the dinar and dirham are not recognised as currency by Bank Negara, there is no need for it. It is just like keeping gold jewellery. Why must it be put under the purview of the sultan or baitulmal?
"I am more concerned at this stage whether there is exploitation in the trading of the coins, which could lead to cheating and not about the legal tender issue."
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