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About: Money in Islam     Goto   Sponge   NotDistinct   Permalink

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The free market principle is an Islamic principle. Islam considers commodities with intrinsic value as currency. The following are some examples of commodities that can be used as currency: gold (as Gold Dinar), silver (as Silver Dirham), dates, wheat, barley, and salt. The mentioned six items are derived from a hadith i.e gold, silver, dates, wheat, barley, and salt and were used as money in barter system. As the items mentioned in hadith, therefore, also known as Sunnah money.