The government urges academicians, financial institutions, and regulatory bodies to work together in realising the vision of the future and sustainable humane economy, said Prime Minister Datuk Seri Anwar Ibrahim.
Anwar, who is also Finance Minister, said in the premier address at the International Conference on Islamic Economics and Finance on Monday (Feb 20) that this collaboration must be met with an 'ummatic' commitment with joint efforts to help realise this vision for a better future.
Anwar emphasised that the future economy would place the people at its centre, which contributes to developing a caring, compassionate society that could support comprehensive social safety nets, investing in community development and abolish poverty and inequality.
WATCH MORE: https://thestartv.com/c/news
SUBSCRIBE: https://cutt.ly/TheStar
LIKE: https://fb.com/TheStarOnline
Category
🗞
NewsTranscript
00:00 [MUSIC PLAYING]
00:08 Now, the Madani concept introduced by my government
00:12 puts forward an economic framework
00:15 based on six principles--
00:17 sustainability, care and compassion, respect,
00:23 innovation, prosperity, and trust.
00:27 Now, guided by these principles, we
00:30 aim to promote a new method of civilizational development,
00:35 which we refer to very closely with the [INAUDIBLE]
00:41 on that goes beyond mere economic data and statistics
00:46 that do not resonate with the ordinary people.
00:49 Rather, it is a new developmental approach
00:52 that benefits society now and that of the future.
00:57 I invite you now to imagine a future economy, one
01:04 that channels investments towards sustainable
01:07 businesses, prioritizing environmental protection,
01:13 responsible resource management, and renewable energy,
01:17 befitting our duty as stewards or veterans of Allah
01:24 on Earth to maintain the balance, the wasata,
01:29 between nature and manifestation of the faith.
01:35 It is clearly amplified in the Quranic verse,
01:39 [ARABIC]
01:51 Second, an economy that places the people at its center,
01:57 not institutions or instruments or individuals,
02:02 but people that contributes to developing a caring,
02:06 compassionate society, supporting
02:09 comprehensive social safety nets,
02:12 investing in community development,
02:14 and abolishing poverty and gross inequality.
02:21 Third, with a future society where prosperity has meaning
02:25 to the many than the few, where unbridled capitalism yields
02:31 to ethical inclusion, fair opportunities,
02:35 and equitable wealth.
02:38 Fourth, an innovative society developing not just
02:42 new products and technology, but also ideas, solutions,
02:48 and perspectives that challenge the status quo
02:52 and inspire progress.
02:55 And fundamentally, a society built on trust,
03:01 where integrity, transparency, and accountability
03:06 serve as the cornerstone of governance,
03:09 fostering a sense of unity, cohesion,
03:12 and collective responsibility over our shared destiny.
03:18 This is our vision for a sustainable, humane economy
03:23 for Malaysians, for Muslims, and for mankind.
03:28 Academicians must continue to push
03:31 the boundaries of knowledge, align
03:35 the theoretical and ethical dimensions
03:37 of Islamic economics, and develop practical applications
03:41 aligned with these core Madani principles.
03:46 Financial institutions, of course,
03:48 must integrate these principles into core structures
03:53 and decision-making process, and ensure that their products
03:56 are equitable and accessible.
03:59 Now, regulatory bodies must create enabling frameworks
04:02 for innovation, and incentivise and reinforce
04:07 ethical conduct, not mere legalistic compliance.
04:12 This collaboration must be met with an ummat commitment,
04:17 with joint efforts to help realise
04:19 this vision for a better future.
04:23 [INAUDIBLE]
04:27 [AUDIO OUT]
04:30 [BLANK_AUDIO]