Al-Said Central Bank

بنك السعيد المركزي

Al-Said Central Bank


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Al-Said Central Bank

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Exchange

Today’s Central Bank Exchange rate:

Al-Said Dinar (Д DIN) :US Dollar ($ USD)

SELL 1.00:1.50

BUY  1.00:1.20

Exchange amount:


How do I exchange Al-Said Dinar in to another currency?

Use the above tools to convert currencies into DIN.

To convert DIN into other currencies you can:

  1. Send DIN to the account exchanging your money, and they can send you the other currencies to the account of your choice.
  2. Request an exchange from the Al-Said Central Bank. To request a central bank exchange please send your request to Finance@alsahawat.com requests are typically processed within 2 hours, but may take up to 48 hours in some circumstances.

Is the Al-Said Dinar a Cryptocurrency?

In short, yes. (But safer and more stable than most.)

The Al-Said Dinar is a closed CryptoToken. This means that the DIN retains the anonymous elements and benefits of Cryptocurrencies such as Bitcoin or Etherium without the volatility.

 

The DIN is regulated by the Al-Said Central Bank, and as such, the DIN’s interest rates and exchange rates are much more stable that other Cryptocurrencies which are completely decentralised.

 

However, the DIN remains decentralised to a large extent. Accounts and transactions are logged in a blockchain ledger, as with Bitcoin, but all ledgers are totally anonymous. The Al-Said Central Bank is not government controlled and as with all Cryptocurrencies and CryptoTokens, does not fall under the regulations of a financial instrument. The DIN is instead a symbolic representation of a contract to provide remuneration for a service or goods.

 

That is if ‘Person A’ transfers you 100 DIN in exchange for goods, then they are contracted to pay you 100 DIN worth of your local currency for those goods. It is a method of removing the inaccuracies of exchange rates when dealing with multi-currency transactions. The DIN represents any and all currencies equally and exchange rates can be quoted to and from any currency.