Work together for a sustainable humane economy vision - Anwar

 

Prime Minister Anwar Ibrahim has called for collaborative efforts among academicians, financial institutions, and regulatory bodies to ensure the government’s future vision and sustainable humane economy.

He said academicians should continue to push the boundaries of knowledge, align the theoretical and ethical dimensions of Islamic economics, and develop practical applications in line with core Madani principles.

“Financial institutions must integrate these principles into core structures and decision-making processes, and ensure that their products are equitable and accessible.

“Regulatory bodies must create enabling frameworks for innovation that incentivises and reinforces ethical conduct and not mere legalistic compliance,” he said during his keynote address at the 15th International Conference on Islamic Economics and Finance at Sasana Kijang today.

Anwar, who is also the finance minister, said the Madani concept, introduced by his administration, puts forward an economic framework based on six principles - sustainability, care and comparison, respect, innovation, prosperity, and trust.

“Guided by these principles, we aim to promote a new method of civilisational development,” he said.

He added that the method will go beyond mere economic data, statistics that don’t resonate with the ordinary man and a new developmental approach that benefits the society and the future.

Anwar said it would also channel investments towards sustainable businesses, prioritising environmental protection and responsible resource management.

“An economy that places the people at its centre, that contributes to developing a caring, compassionate society, supporting comprehensive social safety nets, investing in community development, and abolishing poverty and inequality.

“An innovative society developing not just new products and technology, but also ideas, solutions, and perspectives that challenge the status quo and inspire progress,” he said. - Mkini