KUALA LUMPUR, Monday 17 January 2011 (Bernama) -- Islamic countries should continue to use paper currency instead of gold dinar as history has shown that the return to the coinage system could increase interest rates and inflation would be difficult to control.Professor of Comparative Economic History at International Centre for Education in Islamic Finance (INCEIF), Dr Murat Cizakca, said money should serve as a medium of exchange, not as a commodity.
"We need to continue with paper currency, and the central banks controlling paper currency should have full autonomy," he said.(source)
