KUALA LUMPUR, May 29 — Prime Minister Datuk Seri Anwar Ibrahim today called on Islamic economic actors to transform Islamic economics and finance into a genuine alternative to the “unbridled capitalist system,” criticizing the latter for its materialistic focus. Speaking at the Global Forum on Islamic Economics and Finance, Anwar emphasized the need for an equitable and inclusive Islamic economy, urging a shift from profit maximization to improving the quality of life and treating labor with compassion.
Anwar stressed that the Islamic finance ecosystem must evolve to prioritize value-based finance and equal opportunities. He highlighted Malaysia’s leadership in sukuk issuance and the global halal industry, worth an estimated US$838 billion, and called for collaborative efforts to address common challenges and create economic opportunities. The forum, which follows the 15th International Conference on Islamic Economics and Finance, aims to catalyze systemic reform within Islamic economies.
