Existing currency systems fail society's core values; new system needed.
The article explores different currency systems and their impact on society's economic goals. It looks at historical developments and the Islamic perspective on currency. The study finds that current currency systems like fiat, banking, and cryptocurrency do not align with the goals of a fair and stable society. It suggests central banks should have more independence, seigniorage funds should benefit the community, and asset-backed currencies should be developed. The study also recommends multiple international reserve currencies and collaboration between financial experts and Islamic scholars to create a currency system that fits Islamic financial principles.