Council of Islamic Ideology (CII) Chairman Maulana Muhammad Khan Sheerani has said that an economic system based on paper currency is not viable, and that a system based on gold and silver should be considered.
Speaking at a seminar hosted by the CII on Tuesday, Sheerani reminded media personnel that before the advent of the paper currency, all monetary transactions used to be conducted in gold and silver. He called on the government to return to using gold as currency.
He said this was necessary to establish a true Islamic economic system in an Islamic country such as Pakistan.
“The current system of economy based on paper currency is not durable because there is nothing concrete in paper currency,” he said. He further said that the Islamic style of economy was necessary to revive Islamic principles.
Sheerani announced that the CII would soon open a debate on re-circulation of gold and silver coins.
Educated and older people do not spreed such knowledge or message to younger generation
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