Belarus had a bombing incident a few months ago. Also, foreign currency instability in Belarus and possibility of civil uprising against dictatorship adds to the fire. I would go to Belarus for the loads of pretty women there though. That alone is worth the risks. You are free to do as you please there too. In Malaysia, it will not be as crazy but the country is in stable terms economically as compared to Belarus.
MBA in Malaysia will probably be recognized in Commonwealth countries like UK, Australia, & etc. Quality of education is a different story - possibly Belarus people are smarter though not reflected in their choice of governance.
Snow in Belarus, no snow in Malaysia. There is summer all year round minus the women in bikinis in Malaysia. Food priced similar in both countries as referenced from my friends in Minsk, computer equipment very expensive in Belarus. Malaysia has no import tax for computers hence the low prices.
You can decide hopefully sensibly unlike yours truly here for what you want to get from your abroad study life. There are many Iranians in Malaysia too by the way. Some local Universities in Malaysia offer part time MBA so you can work for money in Malaysia too along the way.