Prime Minister Anwar Ibrahim says Islamic nations would be familiar with the concept of the gold dinar.
Anwar Ibrahim said the dinar presents a viable alternative to the US dollar, as it could strengthen the domestic economic power of a nation.
“If, at present, we were to start using the gold dinar with 5% to 6% of Islamic countries, it would be a positive start because it provides strength and reduces dependence on the dollar,” he said during Prime Minister’s Question TIme in the Dewan Rakyat. Historically, gold served as a backing for fiat currencies and also served as the world’s reserve currency for the majority of the 20th century. The United States adhered to the gold standard until then president Richard Nixon terminated it in 1971.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Universities not allowed to turn away poor students, says AnwarPrime Minister Anwar Ibrahim says the related government agencies and ministries must help these students.
Read more »
Anwar calls for Gaza ceasefire after Hamas phone callPrime Minister Anwar Ibrahim expresses ‘Malaysia’s unwavering support for the Palestinian people’.
Read more »
RFID disruptions continue on Malaysian highways; transport minister to discuss with works ministerOne year on from the initial rollout of RFID as a highway toll payment method, disruptions with the system persist as former minister in the prime minister’s department, Datuk Seri Abdul Rahman Dahlan stated his …
Read more »
Courses on electric vehicles, renewable energy for TVET schoolsAn allocation of RM6.8 billion has been provided, deputy prime minister Ahmad Zahid Hamidi said.
Read more »
Egypt says ceasefire agreed to reopen Rafah crossingHowever, Israeli prime minister Benjamin Netanyahu denied a deal had been reached.
Read more »
Kit Siang backs Anwar’s offer for PAS to join federal govt, with certain conditionsKUALA LUMPUR, Oct 15 — Former federal lawmaker Lim Kit Siang today expressed his support of Prime Minister Datuk Seri Anwar Ibrahim’s olive branch to political adversary PAS to...
Read more »