The Golden Caliphate

Ann Berg has an interesting article up on "The Golden Caliphate." She discusses the possibilty of a Pan-Islamic financial movement that could possibly center on the gold dinar and argues such a scenario may be more likely now since several impediments to it have been removed.
"Imagine the power of an Islamic financial supermarket, rivaling the sophistication of the U.S. market (itself only 30 years old), to channel dollar holdings into dinars for a billion-plus people! The embrace of a pan-Islamic, gold-backed system would create an unquantifiable financial upheaval."

Meanwhile, in Malaysia, they continue to attempt progress toward the government adopting the dinar as an instrument in the international Islamic financial system.

"In Malaysia, former Prime Minister Tun Dr Mahathir Mohamad become a leading voice in advocating the use of gold dinar in international trade.During his tenure as prime minister, he had often stressed on making the dinar a trading currency for all countries and not just the Islamic countries.The Islamic countries, however, are in the best position to prove the effectiveness of the system, he said.During the OIC summit in Putrajaya, he said the grouping had agreed to Malaysia's proposal to use the gold dinar in trade transactions between member countries."