Muslims Urged To Take Global Economic Positioning

Bandar Seri Begawan – Islam and Muslims may have to assume a position that enables the ummah to dictate the socio-economic condition of the world under the current circumstances.

Pehin Dato Haji Awang Abdul Aziz, Minister of Education, who is also the Acting Minister of Finance, said this at the opening of the International Conference on Islamic Banking and Finance at the Empire Hotel and Country Club in Jerudong yesterday.

“Perhaps we can at least begin to look at ways towards creating an economic and financial framework that can attend to our needs or exploring other financial dimensions of the Shari'ah that contribute towards the construction of a more comprehensive Islamic economic framework,” he said.

The Minister also said that it is important not to lose sight of the fact that the construction of an Islamic banking and financial system, though as vital as it is, is but only one aspect of the multi-dimensions of an overall Shari'ah compliant economic system.

The Minister of Education, who is also the chairman of the Universiti Brunei Darussalam's Council, further said that the more obvious repercussions of an institutionalised Zakah system would be the constriction of excess resources, hence diminishing the ability of the rich for improvident consumption and speculative investment.

The three-day conference was jointly organized by the faculty of business, economics and policy studies of Universiti Brunei Darussalam and the Islamic Research and Training Institute of the Islamic Development Bank of Jeddah. -- Courtesy of Radio Television Brunei 

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