To decrease dependency on the US dollar, Malaysia is pushing Organisation of Islamic Conference (OIC) member countries to use the gold dinar.

Second Finance Minister Nor Mohamed Yakcop said Malaysia is currently engaged in the discuss with several OIC countries to implement the use of the dinar.

"This is a complex issued and we have to move step by step and work hard to convince the OIC countries to use the gold dinar.

"We pledge to do this. We believe this is a noble intention," he was quoted as saying in a Bernama report today.

The minister said this during the '60 Minit Bersama Menteri' (60 minutes with the minister) programme aired on TV1 late last night.

Asked if Malaysia will raise the issue at the Islamic Development Bank (IDB) meeting scheduled for next week, Nor Mohamed said the meeting will be a golden opportunity to conceive ways of heightening ties between the nations, especially in Islamic banking.

Experienced in Islamic banking

He also pointed out that Malaysia was the pioneer in this field.

"We may have forgotten that in 1983, (former premier) Dr Mahathir Mohamad decided to form an Islamic bank and at that time, no other country dared to create Islamic banking," he added.

Today, Islamic banking encompasses 10 percent of the total national banking asset and is expected to increase to 20 percent by 2020, said Nor Mohamed, adding that he is confident the target will be reached.

"We have much experience in Islamic banking and we can discuss and provide training as well as advise to other nations.

"Malaysia is the only one with a dual-system, Islam and conventional. Both have hi-tech, complete and sophisticated infrastructures," he said.

According to the minister, other countries such as Sudan and Iran also have Islamic banking while there are others with Islamic banking who have been sidelined and are not in the 'mainstream'.

"We have a unique system and we hope the Islamic banking system will fortify over time in this country compared to the conventional system," he said.

Nor Mohamed also said that the IDB meeting, to be hosted by Malaysia for the second time, is important in establishing joint-efforts.

From the viewpoint of trade between Islamic countries, he said this only contributes to 12 percent compared to the trade between Islamic and non-Islamic countries, which is eight times more.

"This is very disappointing," he added.