Explore The Islamic Socioeconomic System to Empower Muslims

Oleh Radzuan Ghazali
Foto  Ikhwan Hashim

KUALA LUMPUR, 24 August 2016 – Malaysia needs to explore and strengthen some potential social segments in the Islamic economic system in order to empower Muslims.

Deputy Minister at the Prime Minister Department, Senator Dato’ Dr. Asyraf Wajdi Dato’ Dusuki mentioned that Malaysia is currently the anchor to Islamic Commercial Economic Segment that generates profits by introducing Islamic Banking, Takaful Schemes and Lembaga Urusan Tabung Haji (LUTH).

“Malaysia has been utilizing the Islamic Finance Framework since 1960s and has become the reference model to other countries that are interested in system,” he explained.

He said that now is the best time for Malaysia to further explore into other Islamic Finance elements that could benefit the society.

The segments are endowment, tithe, charity, credit schemes and public funds which could benefit the economy.

Senator Dato’ Dr. Asyraf Wajdi was speaking at the 3rd National Islamic Economic and Financial Conference at Dewan Utama, Institut Antarabangsa Kajian Tinggi Islam (IAIS), Petaling Jaya, recently.

Also present at the conference were Malaysia’s fifth Prime Minister, Tun Abdullah Ahmad Badawi, UKM Deputy Vice Chancellor (Alumni and Student Affairs), Prof. Datuk Noor Aziah Mohd Awal, IAIS Deputy Executive Chief Officer, Associate Professor Dr. Mohamad Azam Mohamed Adil and the conference Chairman, Dr. Muhamad Hakimi Shafiei.

The one day conference was organised by the Ekonis UKM, UKM Islamic Hadhari Institute, IAIF, JAKIM and INCIEF.

Senator Dato’ Dr. Asyraf Wajdi further urged Malaysians to be directly involved in generating the economy by utilizing the social media.

Earlier, Prof. Datuk Noor Aziah, in her speech, said that it is important that collaborations in various aspects of Islamic Economy and Finance, especially those related to academic, be done.

“I would, therefore, encourage academicians to be involved in the Islamic Economic and Financial area, in order to actively provide the best solutions to the field,” she said.ukmnewsportal-eg