MALAYSIA WANTS NEW GLOBAL FINANCIAL INFRASTRUCTURE SYSTEM BE SET UP

TASEK GELUGUR (Malaysia), Oct 18 (Bernama) -- Malaysia wants a new global financial infrastructure system be set up to help the developed and developing countries overcome the threat of economic crisis.

Second Finance Minister, Nor Mohamed Yakcop, said the system must be fair
and impartial so that the countries would not be affected by external factors
like now.

"Ten years ago, when the world was hit by an economic crisis until the
stock
markets were badly affected, we use the same system and it was
successful.

"However, the world condemned us then. Today, they are aware and are
repentant. They want to introduce the system again to overcome the economic
crisis," he told reproters at his Hari Raya Aidilfitri (celebration to mark the
end of the fasting month) Open House in this northern territory
Saturday.

Over 2,000 guests were treated to various local delicacies like ketupat
(compressed rice), lemang (glutionous rice cooked in bamboo), rendang meat dish
cooked in heavy coconur milk) and satay (grilled skewered meat).

Nor Mohamed, who is also member of Parliament for Tasek Gelugur, said the
government would put forward the proposal to introduce the new global financial
infrastructure system at international meetings and forums so that it would be
implemented as quickly as possible.
-- BERNAMA