Iran, Malaysia, Turkey and Qatar are considering trading among themselves in gold and through a barter system as a hedge against any future economic sanctions.
That was announced by Malaysian Prime Minister Mahathir Mohamad on Saturday (December 21), at the end of an Islamic summit in Kuala Lumpur.
(SOUNDBITE) (English) MALAYSIAN PRIME MINISTER MAHATHIR MOHAMAD SAYING: "We are seriously looking into this and we hope that we will be able to find a mechanism to put it into effect.
Our focus is mainly on the economy, science and technology as well as the defense industry.
But the most important aspect of all the focus is the need to be able to produce and create new indigenous technologies." U.S.-allied Arab states Saudi Arabia, the United Arab Emirates, Bahrain and Egypt cut diplomatic and trade links with Qatar about two-and-a-half years ago over allegations it backs terrorism, a charge Doha denies.
Iran, meanwhile, has been hit badly after the United States reimposed sanctions on it last year.
Mohamad said it was important for the Muslim world to be self-reliant in order to face future threats.
Saudi Arabia's de facto ruler, Mohammed bin Salman, has enjoyed close ties, some would say a free pass, with Donald Trump in the White House. Joe Biden has promised that if he becomes U.S. president, that will change. Lucy Fielder reports.
On October 26, a 21-year-old college girl was shot dead in broad daylight in Ballabhgarh. According to police, the incident happened when the woman went to write her college exam. Two accused have been arrested in the incident and are in police custody. According to victim's brother, "The problem is that we have to sit for justice, we did not give vote to sit, we gave vote so that we could get justice at our doorstep. It is more than 24 hours, no MLA, politician came to meet us. If she would have been a Muslim daughter, everyone would have come. But she is Hindu therefore no one is coming."
France warned its citizens living or traveling in several Muslim-majority countries to take extra security precautions on Tuesday as anger surged over cartoons of the Prophet Mohammad. Edward Baran reports
The military leader of Sudan's sovereign council says a recently announced "normalization" deal with Israel benefits both sides, despite some opposition at home and suggestions that Khartoum was pressured into compliance. David Doyle reports.
A humanitarian ceasefire between Azerbaijan and Armenia came into force at midnight on Saturday, only to crumble within a few hours - with both sides accusing the other of violations. David Doyle reports.
A U.N. report due to be published this week details the "strong financial position" of Somali militant group al Shabaab - including how it is moving millions of dollars through the formal banking system and investing in property and businesses. David Doyle reports.
In a historic first visit by a Gulf Arab nation, a United Arab Emirates delegation arrived in Israel on Tuesday, accompanied by top U.S. officials, to cement a normalization deal signed last month. Adam Reed has more.
"You have to thank Trump" posters in Hebrew suddenly started appearing on minibuses in Tel Aviv this week, as Republican ads brought the race for the White House onto the streets of Israel. Democrats are also targeting American-Israelis. They arranged a 40% discount with the courier service DHL for voters whose home states require overseas ballots to be sent by mail. Emer McCarthy reports.
Diamond traders in Dubai say they have been inundated with enquiries from Israelis, who traditionally do their business in Belgium's Antwerp -- the world's biggest centre for traders of rough and polished diamonds. Last month the UAE and Bahrain signed agreements to normalize ties with Israel. Adam Reed reports.