Economy
Muslim Nations Mull Barter System as Hedge on Sanctions: Report

(Bloomberg) –Malaysia’s prime minister floated the idea of a barter system for Islamic countries to protect their economies against potential future sanctions, Reuters reported.
Speaking at the end of an Islamic summit in Malaysia on Saturday, Mahathir Mohamad said Muslim countries are sometimes threatened with sanctions and that it was important for them to be self-reliant. Malaysia, Iran, Turkey and Qatar discussed setting up a barter system or using gold to trade among themselves, Mahathir said, according to Reuters.
Several Arab states, including Saudi Arabia and the United Arab Emirates, cut trade ties with Qatar over allegations that it supports terrorism, claims Qatar denies. Iran has been subject to U.S. sanctions since the Trump administration pulled out of a nuclear deal with the Gulf nation last year.
Saudi Arabia boycotted the summit, arguing that it undercut the Saudi-based Organization of Islamic Cooperation, Reuters said.
-
OER Magazines2 months ago
OER, July 25
-
Alamaliktistaad Magazines2 months ago
Al-Iktisaad, July 25
-
Digital2 months ago
Russia’s Digital Frontier: An Inside Look with Alexey Goreslavsky of IRI
-
News1 month ago
OpenAI Strengthens ChatGPT’s Mental Health Safeguards Ahead of GPT-5 Launch
-
Banking & Finance2 months ago
Sohar International Partners as Main Sponsor for Refill 3, a Culinary and Cultural Festival Driving Tourism in Khareef Dhofar
-
Banking & Finance2 months ago
Tender results of Government Treasury Bills worth RO21.7 million issued
-
Energy2 months ago
SOHAR Port and Freezone Signs MoU to Develop Natural Hydrogen Value Chain in Oman
-
Economy1 month ago
Najla Zuhair Al Jamali Appointed President of bp Oman