emirates7 - Malaysian Prime Minister Anwar Ibrahim has stated that ASEAN countries are actively working to revive the idea of establishing their own monetary fund. He highlighted the need for transformation within the ASEAN region, particularly in the financial sector, and confirmed that the bloc is making concrete progress in this area.

Speaking to TV BRICS during the final stage of his official visit to Kazan, Russia, Anwar was addressing a question about ASEAN's financial reforms and his initiative to bring back the concept of an Asian Monetary Fund to help insulate the region from economic shocks.

Anwar also mentioned that Malaysia will host the upcoming ASEAN meeting at the end of the month, with a strong emphasis on economic issues. He added that the event will include representatives from the Gulf Cooperation Council (GCC), with all six Arab nations participating. This will be followed by a summit with China, focused on strengthening economic collaboration. "This clearly reflects our renewed emphasis on economic fundamentals," he said.