Dirham & Dīnār — The Halal Marketplace
E-commerce is believed to have started in the early 1970s, however, the term ‘e-commerce’, was first coined by Dr. Robert Jacobson in 1983. In the last twenty years or so, there has been a rapid proliferation of the internet and mobile users, leading to an increase in online marketing, sales and purchase activity, and phone- and web-based consultancy solutions. Today, it is possible to purchase different sorts of items — as small as a ring and as large as a house — and seek professional advice from advisors via phone and/or web. The volume of goods and services traded over the internet is in trillions of dollars.
However, not all items traded — either over the internet or otherwise — are ethical. The world’s first online transaction, for example, was a drug deal. With advances in financial engineering, today we see all sorts of speculative trading in some of the most ‘sophisticated’ stock exchanges.
Dirham & Dīnār is born of a desire or, dare we say, a necessity to create a marketplace where sincerity, kindness, mutual good-will, and most importantly — the fundamental rules of trade enshrined in the Islamic teachings — are given preference over profits. We believe that Islam is a complete way of life. It has, inter alia, defined rules of trade and commerce — rules that can be followed by anyone, regardless of their beliefs. The success of Islamic banking, also referred to as ethical or participation banking, among non-Muslims, despite the shortcomings of Islamic banks, is one example of this.
A religion that described solar system and space in detail some 1,400 years ago, something that the modern world is exploring in the recent decades, certainly knows something about trade and commerce.
How, and what, to trade:
1- Islam places a great emphasis on trade, alongside other things such as agriculture (because of its importance for food security). Prophet Muhammad (peace be upon him) was a successful tradesman until the age of forty. Some of his esteemed companions were also among the distinguished tradesmen. Honesty in trade and business carries a huge significance in Islam.
2- Islam, however, distinguishes trade from usury or riba (be it in the form of interest charged by the bank on a loan or other means of unjust monetary exploitation by a select group).
3- It also prohibits the trade of items that can be harmful or intoxicating to people, such as alcohol or narcotics. Additionally, it also prohibits gambling and speculative trading (gharar).
The name of the e-commerce platform, Dirham & Dīnār, takes its origins from the ancient metal coins. Dirham (silver) was the currency in the Persian empire before Islam, while dīnār (gold) was the currency unit in the Byzantine empire. During the period of Prophet Muhammad (peace be upon him), the use of these continued, with little modifications done during the period of some of his companions. The minting of proper Islamic coins was, later, done in 74 AH (or 693–694 AD). Both the currency units are also mentioned in Qur’an, the Muslim Holy Book.
The Arabic letters written on the emblem of Dirham & Dīnār affirm the belief that Prophet Muhammad is the messenger of Allah [God].
Dirham & Dīnār is a Halal e-marketplace that aims to ethicalize trading, ranging from items such as groceries, food and modest clothing to high-value products such as gold and real estate. Just as it is not common to find the word ‘ethicalize’ in the dictionary, finding platforms that value ethics and beliefs over profits is also not easy.
We are here to change that. We are here to make a difference. The platform will also provide opportunities to small-scale entrepreneurs, including students and women, who have certain products to sell, but don’t have the means to market those.
We intend to build upon on our diversified experience of establishing one of the first online dental shops in Pakistan, a phone- and web-based travel advisory service, and a reputable — and ethical — immigration and real estate advisory service.
While some mega-players are spending billions to try to colonize other planets — efforts that may actually never succeed — we intend to continue our humble efforts to make lives better on Earth, the planet Allah [God] created for human beings.
For now, we will begin with Pakistan, our home country, where we have an opportunity to make a difference in the lives of over 200 million people. We shall also be promoting ‘made in Pakistan’ products to the global market, while simultaneously connecting Pakistani consumers to good-quality products from other countries.
This marketplace will be supplemented by our separate delivery service, Khidmatguzar, that has already started serving the people of Lahore, Pakistan’s second-largest city, also referred to as the heart of the country. ‘Khidmatguzar’ is an Urdu word that means someone who assists or takes care of others.
Recognizing the importance of healthcare, agribusiness, and food security, we are also working on these sectors, and, God willing, we shall be announcing new developments in the coming future.
Dirham & Dinar — Ethicalizing Trade | Combining modern commerce with the same golden beliefs.