Does e-dinar have established mints in the United Arab Emirates or Indonesia?
We do most of our minting with Emirates Gold in Dubai. We have some local minting operations in Indonesia and are looking for ways to mint silver dirhams in Malaysia to avoid import and custom duties on silver. (Q) Can you say that the e-dinar system is free from any financial or counter party risk like those associated with the banking industry? Yes, absolutely. Since we always have more bullion in stock than we have in circulation, there are no financial counter party risks. (Q) Regarding compliance, I know that e-dinar is not a bank however your customer identification and AML rules are very strict (verified customer name & address and source of funds required) You are right, we are quite strict both in our Customer Acceptance Policy as well as our transaction control with regard to third-party transactions. This is to discourage unwanted elements before they enter the system which we have successfully done. We incidentally modeled our Customer Acceptance Policy based on GoldMoneys
