PRIME Minister Datuk Seri Dr Mahathir Mohamad said that in addition to Iran, many countries, especially those in West Asia, are interested in conducting trade with Malaysia using the gold dinar for settlement.
“Arab countries, in particular, have expressed interest but the decision-making process and bureaucratic procedures take time,” he said after opening the International Convention on Gold Dinar as an Alternative International Currency in Kuala Lumpur yesterday.
Dr Mahathir said efforts to use the gold dinar in bilateral trade with Iran had just started and, if successful, the same mechanism could be applied and expanded to Malaysia's other trading partners, particularly the 30-plus countries with which the country had concluded bilateral payment arrangements (BPA).
On whether the adoption of the gold dinar for trade could be achieved this year, the prime minister said: “Maybe ... we'll see if we can do it with Iran.”
Latifah said Malaysia was working rapidly towards addressing the technical issues of using the gold dinar.
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