December 5, 2022

Iranian President proposes to create a digital currency of Islamic countries to fight the dollar

Iranian President Hassan Rouhani has proposed to create a single digital currency of Islamic states in during the summit in Malaysia, reports the Associated Press.

“The Muslim world must develop measures to escape from the dominance of the US dollar and the American financial regime,” he declared.

He also believes that US economic sanctions are "the main instruments of domination and intimidation of other countries."

Rouhani proposed creating a special banking and financial system among Muslim countries and developing a single digital currency.

It is reported that the idea was already supported by the Prime Minister of Malaysia, Mahathir Mohamad.

In addition to creating a single digital currency, Rouhani also spoke about plans for joint research in the areas of artificial intelligence and cybersecurity.

Earlier media reported that Iran issued a gold-backed “cryptocurrency” PayMon.