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Gov Closely Monitoring Middle East Conflict & Financial Market Situation

Gov Closely Monitoring Middle East Conflict & Financial Market Situation

Following Iran’s attack on Israel, the Malaysian government is closely monitoring the evolving global geopolitical developments and will take appropriate actions to maintain financial stability in the country.

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Prime Minister Datuk Seri Anwar Ibrahim said the government is closely monitoring developments in the Middle East conflict and the financial market situation, including the potential impact on Malaysia if there’s a potential economic fallout.

Malaysia strongly believes that it is in the best interest of the global community that all parties involved should work towards achieving a cessation of hostilities in the Middle East and avoid further escalation of aggression. For a lasting solution, the ongoing violence must come to an end.

Prime Minister Datuk Seri Anwar Ibrahim

Anwar reiterated that Malaysia stands with the Palestinian people who continue to suffer in a terrible situation.

He also called for leading stakeholders to demand a cessation of hostilities by all parties, calling for everyone to exercise utmost restraint.

On Sunday (14 April), Anwar met with Deputy Prime Minister Dato’ Seri Dr Ahmad Zahid Hamidi, Minister of Agriculture and Food Security Datuk Seri Mohamad Sabu, and other senior officials to discuss the situation in the Middle East.

Following Anwar’s statement, Bank Negara Malaysia said it’s standing by to be ready to deploy the tools at its disposal to ensure the Malaysian financial markets remain orderly and continue functioning efficiently in light of the current geopolitical situation.

What’s happening in the Middle East?

Last Saturday, Iran launched a direct attack on its long-time foe Israel for the first time by firing more than 300 missiles and drones.

Iran’s attack was in response to a deadly 1 April air strike on Tehran’s consulate building in the Syrian capital Damascus that was widely blamed on Israel.

The attack killed seven Iranian Revolutionary Guards, including two senior generals, and prompted threats of retaliation from Iran.

The major escalation between the two countries has sparked renewed fears of a broader conflict in the Middle East.

Following the attack, the President of the United States Joe Biden told Israeli Prime Minister Benjamin Netanyahu to “think carefully” about any escalation. The US will not join Israel in any counterattack against Iran.

During the Security Council meeting about Iran’s attack on Israel, United Nations Secretary-General Antonio Guterres said the Middle East region and the world could not afford more war.

The Middle East is on the brink. The people of the region are confronting a real danger of a devastating full-scale conflict. Now is the time to defuse and de-escalate.

United Nations Secretary General Antonio Guterres

Meanwhile, Iran’s UN envoy Amir Saeid Iravani said the Security Council failed to maintain international peace and security. Thus, Iran was exercising its inherent right to self-defence.

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