Nationality Spanish Name Umar Vadillo | Influences Abdalqadir as-Sufi Influenced by Abdalqadir as-Sufi | |
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Born May 19, 1964 (age 59)
Vitoria, Spain ( 1964-05-19 ) Known for Reintroduction of Gold dinar and silver dirham Books The Esoteric Deviation in Islam, Fatwa on Paper Money Fields Economics, Islamic studies | ||
Shaykh umar vadillo message to the youth of pakistan
Umar Ibrahim Vadillo (Urdu: شیخ عمر ابراہیم واڈیلو) is a gold dinar movement activist who introduced the gold dinar to the state of Kelantan, Malaysia in 2010. He is a member of the Murabitun World Movement. He is also the founder of World Islamic Trade Organization. He is the chairman and founder of World Islamic Mint and also introduced an online gold payment and repository system called E-DINAR.
Contents
Shaykh umar vadillo allah has permitted trade and forbidden riba
Reintroduction of the gold dinar
Due to Vadillo's work, the Malaysian State of Kelantan accepted the gold dinar and silver dirham in August 2010.
Vadillo also introduced "barter markets" in which only money with intrinsic value will been used. He believes that bypassing paper money will minimize the role of the modern banking system.
Thoughts on banking
Vadillo is a critic of an interest-based economic system, which widens the gap between rich and poor. So the Muslim world should quit Capitalism and return to an Islamic economic model. In his Fatwa on Paper Money he asserts that paper money is forbidden in Islam and he instructs the Muslim community to return to the gold dinar and silver dirham. He further argues that paper money has been printed by the central banks of countries which over-print it, devaluing its currency without the public awareness. He says that deficit financing is a hidden tax on the nations at its best and robbery at its worst. Vadillo also criticizes modern banking, which he asserts involves forbidden practices such as interest, usury, paper money, the fractional reserve system, deception, speculation, and gambling.