Turkey’s Erdogan urges Muslim international locations to cease buying and selling in ‘international forex’

A crusader in opposition to the US greenback, Turkish President Recep Tayyip Erdogan stated that Muslim international locations ought to swap to buying and selling of their nationwide currencies if they don’t need to be hit by commerce wars.

The monetary markets of Muslim nations stay “fragile in opposition to shocks and manipulation” except they’ve their very own “cost programs,” Erdogan stated at an Islam-themed convention in Kuala Lumpur, Malaysia, on Thursday.

Commerce in nationwide currencies has gained urgency amid talks of commerce wars… We should always to begin with put the problem of Islamic finance as effectively on our agenda.

The Turkish chief additionally proposed organising a working group composed of economic consultants to craft a “complete” roadmap on methods to advance interest-free finance.

Erdogan didn’t particularly point out the US greenback, however Ankara has had a falling out with the US in recent times. Washington has been making an attempt to stress Turkey into scrapping a deal to purchase S-400 air protection missile programs from Russia, whereas some American politicians blasted Erdogan for launching a army operation in opposition to Kurdish forces in northern Syria. 

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Turkey refused to cancel the contract with Russia, and maintains that its offensive in Syria is directed in opposition to terrorists.

The Turkish president beforehand referred to as on different international locations to finish the “monopoly” of the greenback in world commerce, and stated that America “behaves like wild wolves.” He additionally acknowledged that utilizing the buck damages the Turkish financial system.

Final month, Erdogan urged Turks to desert the greenback in favor of the Turkish lira in hopes of strengthening the nationwide forex.

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