Iran Offers to Use Gold Dinar in Kuala Lumpur Deals

Iran has offered to use the Gold Dinar for bilateral business with Malaysia, said Deputy Finance Minister Mohd Shafie Salleh .
Mr. Salleh said top officials from Iran had expressed their intention to use the dinar in their business transactions with Malaysia under the bilateral payment agreement.
"These officials told me of their intention during last month's Islamic Development Conference in Africa. The meeting was attended by all the finance ministers of the Islamic nations," said Mohd Shafie, who represented Prime Minister Mahathir Mohamad in the conference.

The prime minister was quoted as saying recently that Malaysia planned to set up a secretariat in the country to promote the idea of using the Gold Dinar among central banks of other Muslim countries.

Shafie further added that he would be submitting his detailed report to the cabinet on Iran's offer. He said various issues would have to be taken into consideration, including the current diplomatic and bilateral relations between Malaysia and Iran.