Islamic finance is gaining importance and has experienced a robust expansion over the years as it is embedded on the principles of fairness, equality and ethics that lead to social well-being.

Minister in the Prime Minister’s Department Datuk Seri Dr Mujahid Yusof said the principles of Islamic Finance seek social justice and economic prosperity of the society as well as encourage sustainable economic activities.

“These ethics do not just apply to Muslims’ personal lives, but equally to all aspects including the way they conduct business. The high-level principles such as stewardship of humanity on earth, integrity and sincerity provide the bases for the framework of business ethics,” he said.

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He said this in his speech during the launch of Bank Islam Malaysia Bhd’s Investment ESG Investment Talk 2019 here, today.

Mujahid also said the Islamic fund management was guided by Islamic Finance principles which expressed explicit intention to meet the financial needs of participants with integrity, and in a manner that is tangible, fair, trustworthy and honest, while ensuring a more equitable wealth distribution.

Meanwhile, when asked on the statement by Deputy Minister in the Prime Minister’s Department, Fuziah Salleh, that Lembaga Tabung Haji (TH) had disposed of shares and assets worth RM1.2 billion up to June 30 this year, he said, “it is on the right track.”

“That’s the answer … it means we are moving on the right track,” he said.

Yesterday, during the Dewan Rakyat sitting, Fuziah reportedly said the divestment of shares, financial instruments and real estate had generated a profit of RM61 million to TH. — Bernama

Courtesy by: www.thesundaily.my