At global forum, PM Anwar touts Islamic economy’s potential to rival ‘unbridled capitalism’

MalayMail-May 28

Prime Minister Datuk Seri Anwar Ibrahim today urged Islamic economic actors to turn Islamic economics and finances into a genuine alternative to an “unbridled capitalist system”, which he panned as being overtly materialistic. Addressing international delegates at this year’s Global Forum on Islamic Economics and Finances, Anwar said there is an urgent need to transform the Islamic economy into an equitable and inclusive system, as he called for a shift in mindset that looks at the economy merely as a way to maximize profits. “The time has come to chart a reinvigorated and reformed course within the Islamic economy towards a future defined by greater inclusivity, equality, opportunity, and shared prosperity,” Anwar said in a speech to inaugurate the three-day program. “One which no longer accedes to archaic economic orthodoxies, which prioritize growth and material pursuits over the quality of life, while glorifying profit maximization and treating labor as a commodity rather than with compassion.” Read more at: https://www.malaymail.com/news/malaysia/2024/05/28/at-global-forum-pm-anwar-touts-islamic-economys-potential-to-rival-unbridled-capitalism/136844