Gold dinars and silver dirhams to be

IPOH (Bernama) - Gold dinars and silver dirhams to be introduced by the Perak Government end of next month will be used as a reserves
instrument and for investment to earn revenue for the state government.
Perak is a northern state in Peninsular Malaysia. Goldnet International Sdn Bhd chairman Rais Hussin said the dinars and
dirhams would not be used as currencies as was done by the Kelantan Government previously.
Goldnet International and the state government would seize the opportunity to explore the vast experience of Kuwait Finance House (KFH) which previously had offered a gold account in Malaysia, he said in a statement today.
The gold dinars and silver dirhams will be produced by Goldnet
International, a wholly-owned subsidiary of the Perak State Development Corporation, in collaboration with KFH (Malaysia) Sdn Bhd.
State Executive Councillor Mohamad Zahir Khalid had said Tuesday that the state government was working with the KFH to introduce gold dinars and dirhams as the finance company had vast experience in that field.
"The gold dinars and dirhams will diversify the state government's reserves and investments of the people's money.
"The full details, mechanism and workings of the gold dinars and dirhams will be announced on the launching day," he added.