Dr Mahathir Open to Idea of Unified Cryptocurrency for Islamic Nations

KUALA LUMPUR, Dec 19 — Prime Minister Tun Dr Mahathir said he is open to the idea of a unified cryptocurrency for Muslim countries.

As a matter of fact, Dr Mahathir added, Malaysia had mooted the idea of a common currency for Islamic nations a long time ago, but the big powers had then stood in the way of that proposal.

This is because when their currencies are used by others, it gave them added strength, he told the media as he was leaving a round-table session themed “The Priority of Development & The Challenges” in conjunction with the Kuala Lumpur Summit 2019 here today.

Dr Mahathir, Turkish President Recep Tayyip Erdogan and Iranian President Hassan Rouhani spoke at the session which was moderated by Summit deputy chairman Tun Ahmad Sarji Abd Hamid.

“It is the first time we hear Iran and also Turkey are of the opinion that if we do not have American dollars, we can use our own currency or one common currency that we (Muslim nations) can create if we agree,” Dr Mahathir said.

Dr Mahathir was asked for his reaction on Rouhani’s suggestion at the roundtable on having a unified cryptocurrency for Muslim countries.

The prime minister also said Malaysia was willing to work with Iran and Turkey in technological fields as they were much more advanced in these compared to other Muslim countries.

The four-day summit themed ‘The Role of Development in Achieving National Sovereignty’, which started yesterday aims to, among others, discuss and find new solutions to problems facing the Muslim world as well as to improve the wellbeing of Muslims and Muslim countries in general.

— BERNAMA

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