The History Of The Dinar
The currency that is known as the dinar (or denar) is currently used in nine countries across the world. These countries include Tunisia, Serbia, Macedonia, Libya, Kuwait, Jordan, Iraq, Bahrain and Algeria. Other countries have also used the dinar in the past. Some of these include the now-defunct Yugoslavia as well as Kosovo and South Yemen. The history of the dinar is a long and interesting one, which dates back to Persia. This interesting history has been influenced by countless events and the currency itself has experienced a huge amount of change in the time that it has been in use by all of these different countries and peoples.
In the beginning, many of these dinar were struck from silver and cold. The coins themselves would frequently have “in the name of Allah” written on them. In many of the mintings of coins that took place after this, the name of Allah and different quotations from the Koran were usually put on the coins. Throughout the history of the dinar, various different quotations from the Islamic holy texts were placed on the coins. The type of quotations that would be on them would depend on the sultans or rulers of the time, as well as those who were in charge of actually minting the coins themselves.
Although they started out quite simple, the dinar eventually became a more complex currency in its design. Eventually, the dinar also started being used outside of Persia as more of the Arabic nations started taking it up.
In 695 CE, Khalifah Abdalmalik ordered that the first dirhams be minted, and this took place in Dar-es-Salam. His instructions regarding the coin’s design meant that no human or animal designs could be left on the coins themselves. As well as this, the inscription “Allah is unique, Allah is eternal” were also to be inscribed on the coins.
Throughout the history of Islam, this command was followed religiously. As a result, it had a huge influence on the way in which the dinars were used for years. Both dinars and dirhams were round and had concentric circles stamped in them. Throughout the time of the Khalifate, the gold and silver coins were used frequently as a currency until its fall. Paper currencies were soon used in place of this, especially after the end of Dar-es-Salam and the rise of the nation-states that came about due to the end of colonialism.
The Iraqi dinar in 1992 was around three US dollars in equivalence. This is something that sharply fell once the Gulf War erupted. Over time, international debt that the country owed to others was slowly relieved. This means that the dinar has the power to become a strong currency in the world once again. The previous war in Iraq also caused instability, but it appears now that the currency itself is stabilising considerably and will be in the future. There is no telling where the dinar might lead, but it is a currency with a long and rich history.
In the beginning, many of these dinar were struck from silver and cold. The coins themselves would frequently have “in the name of Allah” written on them. In many of the mintings of coins that took place after this, the name of Allah and different quotations from the Koran were usually put on the coins. Throughout the history of the dinar, various different quotations from the Islamic holy texts were placed on the coins. The type of quotations that would be on them would depend on the sultans or rulers of the time, as well as those who were in charge of actually minting the coins themselves.
Although they started out quite simple, the dinar eventually became a more complex currency in its design. Eventually, the dinar also started being used outside of Persia as more of the Arabic nations started taking it up.
In 695 CE, Khalifah Abdalmalik ordered that the first dirhams be minted, and this took place in Dar-es-Salam. His instructions regarding the coin’s design meant that no human or animal designs could be left on the coins themselves. As well as this, the inscription “Allah is unique, Allah is eternal” were also to be inscribed on the coins.
Throughout the history of Islam, this command was followed religiously. As a result, it had a huge influence on the way in which the dinars were used for years. Both dinars and dirhams were round and had concentric circles stamped in them. Throughout the time of the Khalifate, the gold and silver coins were used frequently as a currency until its fall. Paper currencies were soon used in place of this, especially after the end of Dar-es-Salam and the rise of the nation-states that came about due to the end of colonialism.
The Iraqi dinar in 1992 was around three US dollars in equivalence. This is something that sharply fell once the Gulf War erupted. Over time, international debt that the country owed to others was slowly relieved. This means that the dinar has the power to become a strong currency in the world once again. The previous war in Iraq also caused instability, but it appears now that the currency itself is stabilising considerably and will be in the future. There is no telling where the dinar might lead, but it is a currency with a long and rich history.
