GOLD DINAR PERCEPTION AMONG BUSINESS COMMUNITY IN KUALA LUMPUR: AN ISLAMIC PERSPECTIVE

Abstract

The world has experienced financial crises in the previous decades. These financial disasters have influenced almost every economy in different ways such as high unemployment, inflation as well as other socioeconomic and political problems. Countries are struggling hard to come out of this trap. Two states in Malaysia have introduced gold dinar with the fundamental purpose to promote trade and to protect hedging against inflation. The objective of this study is to know whether the idea of gold dinar can be expanded to Kuala Lumpur. For this purpose, it is essential to investigate first, gold dinar perception and the level of awareness among people living in Kuala Lumpur. Secondly, it is important to know whether gold dinar can be used as a measure of value. Questionnaire survey is used for collecting data from diverse business community which comprises of Muslims as well as non-Muslims. Statistical techniques such as ANOVA, correlation, regression analysis etc. are used for analyzing different dimensions. These dimensions i.e. Independent and dependent variables include Economic  Perception,  Social  Perception,  Political  Perception, Religion  Perception  and  Perception  on  Gold  Dinar.  Findings of this study reveal that Economic Perception is the most influencing variable among both Muslims and non-Muslims. Apart from Economic Perception, Muslims have given significant importance to gold dinar on religious grounds too.