1. IGD (Sdn Bhd) started somewhere in 2003 by Dr.Shamshudeen Yunus (ex-Abrar director) to mint gold dinar in kuala lumpur. Later he collaborated with chinese investors to operate an gold account exchange and forex dealing or accounts in gold. They also control another company named ISLAMIC MINT SDN BHD to do the minting. First, IGD stand for 'Islamic gold dinar', later changed it to 'International gold dinar'.
2. IGD managed to confuse the public by forming an IGD SYARIAH CONTROL COUNCIL using several alim and scholars such as ex-mufti of Perlis, University lecturers, Imam of Bukhari Mosque KL etc.
3. In 9 Feb.2007, IGDX Ltd was registered in Adelaide, Australia to raise 2 million Australian Dollars share to start buying and mining gold activity. It was launched prominently in Kuala Lumpur by the TPM Najib Tun Razak in 14 Feb.2007.
4. IGD claimed to operate a gold refinery in Penang, branch trading in Indonesia, Hong Kong and signing MOU with a Kazakstan mining company.
5. When gold price was good and rising, IGD making hefty profits. Its report a turnover of RM9 million and profit of RM3 million in 2006 (Is this real or bluff ?)
6. A friend went to IGD office in KL Plaza to buy one dinar. After paying, one IGD officer insisted he convert it to Dinar Account. He refused and just bolted away from the office after locked up several minutes. Just with one real Dinar, IGD may opened endless DInar Account with several real buyers if they do not take the real Dinar away ! This is derivative riba business !
7. In 2008, IGD was warned to cease the unlawful financial practices by representatives of World Islamic Trading Organization WITO and excluded from connection with the nusantara amirates.
8. IGDX was delisted on 2 MAC 2009 from Australia Securities exchange ASX bcos of failures to adhere to trading and business rules.(Running away with investors money !) Beware...! Your Dinar Account may be useless, cannot claim paper money !
9. IGD failures was compounded by the rise several competitors in minting the gold dinar in Malaysia such as Kelantan Dinar, Public Dinar, Dinar Dirham International and in Indonesia by PT Logam Mulia, Islamic Mint Nusantara, Wakala Induk Nusantara, etc.
10. The return and circulation islamic gold dinar must done correctly in the name and command of Allah, supervised or connected to leadership and community needs, not
individual interest and vulture profits disregard the riba/usurious practices.
11. 'Those who spend in the Way of Allah, will be rewarded sevenfold or more...' :Quran. Those who take riba will not stand up in the Day of Rising...."
ASIA MINER NEWS , 2007.
ReplyDeleteMALAYSIA - Malaysian gold trader lists on ASX
A Malaysian-based gold trader and refiner has listed on the ASX, in a move that will give Australia a greater role in the international gold trading market.
IGDX Holdings Limited (ASX code: "IGX") has joined the ASX through Adelaide as its home exchange after a fully subscribed Aus$2 million Initial Public Offer involving the issue of four million 50 cent ordinary shares. The company will be capitalised at just under Aus$93 million when it lists, with 224 million shares on issue and 455 Australian shareholders.
IGDX's Malaysian, Indonesian and Hong Kong operations include a gold refinery at Penang , a precious metals trading operation in Hong Kong and a software solution business specialising in gold and precious metals trading platforms.
IGDX chairman Shamshudeen Mohd Yunus says the company was positioned through tomorrow's listing, to more significantly participate as a market maker in the international gold trading market, providing strong ongoing revenue opportunities.
"One of the company's flagship assets, its gold trading platform known as GforG, has the potential to more greatly involve Australia in global bullion trading, particularly for secondary scrap gold," Shamshudeen Mohd Yunus said.
"The emphasis of the GforG platform is that it offers traders access to free and fair trade in physical gold in global markets," he said. "It differentiates itself from other gold exchanges in that our customers trade in physical gold.
"A customer deposits a quantity of physical gold with IGDX. The deposited gold is converted at the company's gold refinery into an international standard 22 carat gold coin (International Gold Dinar or IGD). "This then allows customers to take long or short positions on the gold price, with a maximum exposure up to the amount of their deposited gold.
"Their profits are measured in gold weight equivalent rather than currency."
Shamshudeen Mohd Yunus says IGDX views GforG as a universal platform for gold trading which would help revive the Asia Gold Contract with a new gold standard through the refinery's production of gold bullion with a 995.0 purity rating.
The GforG platform currently allows gold traders to trade in major markets for precious metals, including the Tokyo Commodity Exchange, Chicago Board of Trade, COMEX, Loco London, Dubai Gold Exchange and the Chinese Gold Silver Exchange.
IGDX is the only foreign entity in 95 years to be licensed as a member of the Chinese Gold and Silver Exchange Society.
"The listing on the Australian Stock exchange is designed to reinforce this business strategy and via our Asia-Australian link, have IGDX become increasingly recognised internationally for gold trading," Shamshudeen Mohd Yunus says.
Secebis kegiatan Islamic Mint Nusantara (indonesia), lihat betapa berbeza objektif dengan IGD/IGDX !
ReplyDeleteISLAMIC MINT NUSANTARA BERTUJUAN WAKAF
Setiap koin-koin yang kami cetak adalah wakaf untuk muslim, untuk menyenangkan Allah dan rasul-Nya.
Seperti di ketahui bersama Pencetakan Dinar-Dirham dan sosialisasinya telah berjalan selama sepuluh tahun yang di mulai oleh tiga muslim dari Nusantara yang mendirikan Islamic Mint Nusantara (IMN – 2000), dengan ijin Allah hari ini pada tahun 2008 IMN telah mengerjakan sendiri pencetakan Dinar-Dirham ini. Sejak April 2009 (1430H) Islamic Mint Nusantara (IMN) di bawah seorang Amir di jakarta telah memulai Wakaf Pencetakan Dinar-Dirham Mandiri dimana setiap koin-koin yang dicetak oleh IMN wakaf, dalam peran aktif untuk pelayana muslim di Nusantara dan dunia, yang harus di dukung oleh setiap muslim dan pimpinan jamaah muslim yang telah mengerti pentingnya urusan ini. Bismillah
Dengan biaya produksi yang rendah dan tentunya dengan kualitas cetak terbaik dari IMN maka masyarakat akan lebih mudah membeli dinar-dirham di jaringan Kiosk-Wakala IMN atau pihak-pihak yang bekerjasama dengan IMN, yang pada akhirnya ini akan mendorong kembalinya model masyarakat muslim berlandaskan al-Quran dan Sunnag yang secara bertahap akan mengembalikan kekuatan politik muslimin di nusantara juga sebagai upaya mengembalikan model kesejahteraan umat berbasis wakaf.
Tujuan dari Islamic Mint Nusantara adalah wakaf berupa koin-koin sebagai bagian layanan sosial kepada umat muslim dimanapun, agar kita semua dapat secara bersama meninggalkan sistem riba yang dilarang dan dibenci oleh Allah dan rasul-Nya dalam al-Quran, Dengan ijin Allah, secepat mungkin IMN telah mengerjakan bagian utama yaitu pencetakan koin-koin, yang akan berguna untuk mengembalikan bangunan muamalat islam seperti:
1. Zakat Mal
2. Pasar Terbuka Islam
3. Paguyuban
4. Mahar Pernikahan
5. Permodalan Islam Qirad dan Syirkah
6. Tabungan
7. Wakaf
8. Koin Barter Bebas Sukarela
One of fall/demise of IGD of Dr.Shamshudeen Yunus was its link to gold derivatives speculative trading and account as detailed in essay below:
ReplyDeleteThe Paper Blizzard - "Derivatives"
Forward and futures markets were not, of course, an invention of the 1980s. What was an invention of the 1980s was the massive increase in paper trading instruments. These instruments, which became known as "derivatives", were first developed in the currency and debt markets. They then spread into the equity markets and into the Gold market.
The advantage of "derivatives" in the paper markets was twofold. First, they provided more and more leverage for more and more aggressive trading. Second, and far more important, they provided a method to hugely expand the amount of money in circulation without expanding the "money supply"! The traditional measures of money in circulation (M1, M2, M3, M...) expanded much more slowly. What did expand was the blizzard of "derivative paper" using paper money as its underlying "asset". This was one of the main reasons why "inflation" (defined as rising prices) slowed down.
The advantages of a Gold derivative market were similar. Governments learned in the 1960s and 1970s that it was impossible to meet an increased demand for Gold with physical Gold. They needed a paper substitute. Gold "derivatives" provided that substitute. With more tradeable alternatives to physical Gold, it became far easier to control the Gold price. But on top of the derivatives themselves, other specific mechanisms were developed to help control the price of Gold.
One of these methods was forward selling by Gold mining companies. This practice began with Gold's retreat from the $500 level in the wake of the 1987 crash. By the mid 1990s, Gold companies everywhere, but notably in Australia, were routinely forward selling years worth of their projected Gold production.
As the performance of Gold in the fifteen years between the market crash of 1987 and the start of the current $US Gold bull market in 2002 illustrates, these mechanisms worked very well indeed.
WITO is IGD, all are linked to Mr Vadillo, not so? So same thing?
ReplyDeleteit is same thing :)
DeleteAnam, I see your fitna spreading far & wide. Thank God I am here to disclaim your evil.
ReplyDeleteIf WITO & IGD is the same, then why did IGD not cease its activities when Shaykh Umar Vadillo refused to recognize it? Because IGD was controlled by crooks and SUV left when he is not able to stop the scam by the crooks.