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.
-
Economy2 months ago
Is Gold a Good Investment in 2025? A Deep Dive into the Precious Metal’s Future
-
Alamaliktistaad Magazines2 months ago
Al-Iktisaad, March 2025
-
OER Magazines2 months ago
OER, March 2025
-
Automotive1 month ago
South Korea Plans to Support Auto Sector with US$2B Following US Tariffs
-
News2 months ago
Nothing Phone 3a and 3a Pro launches in the Middle East
-
News1 month ago
Oman Oil Prices Witness Drop Amid Shifting Global Trade Dynamics
-
News1 month ago
Aligning HR Strategies with Oman Vision 2040: A Roadmap for Organisational Growth – OER Business Summit 2025
-
News2 months ago
Omantel Partners with TeKnowledge to Enhance Employee Skills in AI & Data Science