PETALING JAYA: A leader of Sarawak’s ruling coalition has speculated about the state introducing its own currency in light of the unpredictable economic conditions in Malaysia.
Alexander Nanta Linggi said the Sarawak currency move was something that could be considered if Malaysia’s less favourable economy persists.
“If Sarawak’s economy is good, while the national economy is not doing so well, perhaps Sarawak will have our own currency.
“If Sarawak is better than others, why not? This is what I’m trying to emphasise,” said Nanta said in a podcast to mark National Day and Malaysia Day, entitled “From Malaya to Malaysia: 60 Years” that was released today.
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Nanta is also the works minister in the federal cabinet.
He did not state under which law Sarawak would derive power over currency.
Under the Central Bank of Malaysia Act, Bank Negara Malaysia is the sole authority to issue currency in Malaysia. The law defines Malaysia’s unit of currency as the ringgit, divided into 100 sen.
In July, it was reported that Sarawak has been categorised as a high-income state, according to World Bank economist Apurva Sanghi. - FMT
