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MALAYSIA AND IRAN DISCUSS THE USE OF GOLD DINAR.
KUALA LUMPUR, July 1 Asia Pulse - The Malaysian government is discussing with Iran the possibility of having "bilateral payment arrangements" to enable Malaysia to use the dinar to settle payments.
Deputy Finance Minister Dr Shafie Mohd Salleh said that it was still in the early stage of discussion.
"Various issues would have to be taken into consideration, including the current diplomatic and bilateral relations between Malaysia and Iran," he told reporters at the parliament lobby here Thursday.
He said Malaysia is also discussing the matter with a number of countries from West Asia who may want the same arrangement.
Dr Shafie said that the countries included Bahrain and Egypt.
However, he said that it was also still at the early stage of discussion as "there are a number of countries in West Asia which use the US dollar when exporting petroleum."
Dr Shafie said the Iranian government is interested in Malaysia's suggestion of using the gold dinar as another means of settling trade transactions.
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