Umar Ibn al-Khattab (second caliph of the Muslim also known as Abu Hafs Umar ibn al-Khattab al-Adawi, reigned from 634 to 644 CE) established the known relationship between them based on their weights: "10 dirhams must be equivalent to 7 dinars (mithqals)". The weight of a mithqal of gold is seventy-two grains of barley, so that the dirham which is seven-tenths of it is fifty and two-fifths grains. In the year 75 AH (695 CE) Caliph Abul Walid Abd al-Malik ibn Marwan (reigned from 685 to 705 CE) ordered Al-Hajjaj to mint the first Dirhams and in 77 AH (696 CE), the first standard gold Dinar were minted. In the next years these coins were minted in all the regions of Islam. He ordered that the coins should be stamped with the sentence: "la ilaha ill' Allah" (Allah is Unique, Allah is Eternal). He also ordered to remove human figures and animals from the coins and to be replaced with letters. Gold and silver coins remained official currency in Islamic regions until the fall of the Caliphate in 1918. This indicates that the Islamic Gold Dinar was the currency of the Muslim community from its first years right up to the fall of the Ottoman Empire (Osmanli dynasty).

According to a prophetic hadith, "Gold is not liable to Zakah unless it reaches twenty dinars (20 X 4.25g =  85g). Once it reaches this amount, half a dinar must be paid as Zakah on it." Likewise, silver is not counted for Zakah unless it reaches two hundred dirhams (200 X 2.975 = 595 grams). Once it reaches this value, an amount of five dirhams must be paid as Zakah on it.

Datuk Seri Dr. Mahathir bin Mohamad addressed the Sana Police Academy, Yemen on 17th June 2001 and said that "Nobody can oppress Muslim as long as they work together to remain united and strong". During his speech he also said "If you hold the dinar as reserves and trade is done using the gold dinar, it's possible to stabilize the value of a currency". 

One more reasons given for the continued insane rise in Wall Street has been the flow of money out of the Asian countries into the U.S. markets in search of a safe haven. The Islamic Gold Dinar was officially launched on 07th Nov 2001 by Islamic Mint. The gold coins are now available in all the seven emirates of United Arab Emirates through branches of Thomas Cook Rostamani Exchange Company and Dubai Islamic Bank, who have jointed forces with Islamic Mint for the launch.

The State Government of Kelantan, the northeast Sultanate of Malaysia has officially adopted the Islamic Dinar as its economic policy. This means that Islamic Dinar will circulate through the hands of hundreds of thousands of people in a physical form. It seems possible that as word of this movement travels among Muslims, demands to open accounts and begin using this measure of exchange could grow very rapidly in the Muslim world.

More details about Islamic Mint can be viewed at its own website http://www.islamicmint.com/. Another Islamic Mint branch have been operating from Malaysia, which can be seen at: http://www.islamicmint.com.my.