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Former Malaysian Prime Minister Mahathir Advises Europe on its Sliding Economy

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By: Tasnim Nazeer

The West has always been at the forefront in advising on the best ways to manage the economy in Asia and other countries around the world. However, the tables have now turned since the economic recession with many western countries continually lagging behind in economic stability and growth.

Former Malaysian Prime Minister Mahathir Mohamad recently stated in an interview with the BBC that,

Europe… has lost a lot of money and therefore you must be poor now relative to the past”. 

He further went on to add,

“And in Asia we live within our means. So when we are poor, we live as poor people. I think that is a lesson that Europe can learn from Asia.”

With the arousal of the recession Europe could take heed from the sound economic advice from Dr. Mahathir, as the west continues to suffer from the affects of the global recession, which were first witnessed in Denmark in 2009.

With unemployment on the rise and many families living under difficult financial circumstances it is imperative that measures are implemented to fix the ongoing economic crisis. Dr. Mahathir believes that European workers are overpaid for the amount of work they do and went on to say that.

I think you should go back to doing what I call real business – producing goods, providing services, trading – not just moving figures in bank books, which is what you are doing.”

Malaysia’s economy however, is thriving as the country has built up financial stability over the years and is unprecedented as being one the most prosperous Islamic financial hubs to date. During Dr. Mahathir’s governance, he had built up Malaysia as a powerful financial hub and believes in being realistic in economic dealings as he stated,

“And in Asia we live within our means. So when we are poor, we live as poor people. I think that is a lesson that Europe can learn from Asia.”

Dr. Mahathir believes that Europe is in a state of denial about the current economic situation and stated that,  “you refuse to acknowledge you have lost money and therefore you are poor,” he says.

Much to the dislike of European leaders the former Malaysian Prime Minister’s message is one that is firm but true and perhaps the West could really learn a thing or two from the economy in Malaysia. Dr. Mahathir stated on his final note that,

we were Euro-centric before. I think it should be a little bit Asia-centric now.”

The economy in the West is still relatively slow and much of the problem was also due to the amount of interest (Riba) that accumulated during the financial crisis. Many Islamic banks avoided the full effects of the economic crisis for this reason as interest is strictly prohibited in Islamic finance and therefore perhaps the solution lies in the best methods of financing and dealing with the overall economy. If we look back at the principles of financing in the Shariah there may be a more lucrative method of managing the economy at large.

About the Author:

Tasnim Nazeer is a Freelance Journalist/Writer who has written for a variety of print and online publications including CNN International, The Huffington Post and The Muslim News. She is currently a Financial Reporter for Business Media Group’s Global Islamic Finance Magazine. She was short listed for the Young Journalist of the Year 2011 at the Muslim Writers Awards. For more information visit her website at www.tasnimnazeer.com

 

3 Comments

3 Comments

  1. Avatar

    shiney

    August 26, 2012 at 4:56 PM

    this was very interesting indeed…i remember from an Al-Maghrib class that the shaykh told us about Malaysia’s Prime Minister’s amazing leadership skills. He quoted him saying something like, “…I invested in my own people and I see the [good] results of it.”

  2. Avatar

    Richard Prior

    August 27, 2012 at 10:55 AM

    Great reminder…in my opinion many women get caught up with the “buy & spend” consumerist ideology which is often targeted at them as well as other segments in advertising, often including young children from an early age as well. When this happens and people think money will by them anything even spending money in an effort to make themselves happy, then those people may find themselves on a very slippery slope. Of course, men are not immune… though men in the West usually spend their money on non-essential items such as booze, cigarettes and fast food, not to mention gambling and the latest gadget or ‘mod-con’… with this style of living and with the addition of added credit/overdraft balances its not surprising people are becoming poorer overall… they are spending more than they can afford… and may people are in denial because they don’t want to think about how much they are spending and whether or not they can pay it back… which is the responsible thing to do. With denial comes the deceptive illusion that everything is ok and theres no problem… which leaves for a rude awakening when its too late to fix things and theres no turning back. This leads people inevitably to other vices, with the added burden of stress, people will often be more on edge and have shorter fuses and quicker tempers leading to arguments that may start off with something simple but may quickly get out of hand as other things get said in the heat of an argument which once said cannot be unsaid leading to hurt and further distress. What often intrigues me is how the West once was appealing to the world because of its pioneering modernisation and innovation or simply because of a variation of an “American-dream” style wish, but those of us living in the West know how much hell there is to pay, before we can buy our freedom. Nice article though, as a freelancer myself I can understand what thats like, although I’ve yet to get the “big break” people seem to expect, and sometimes I think there is more virtue in the humility of poverty than continued indulgences of those who think they have more money. There comes a time when these indulgences will have to end, and there is only a limit to how far they will go.. please God don’t let the temptations of this world seduce us away from Thy path of virtue and let this be a reminder for those teetering on the brink of an unstable foundation that anything which takes us over the edge should be taken as a warning sign for to us not to go there. Riba is haram but its just one of many things on that slippery slope…

  3. Avatar

    Aly Balagamwala | DiscoMaulvi

    September 18, 2012 at 12:33 PM

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#Current Affairs

My Heart Shook In New Zealand

Mohsin Ansari

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One would imagine that a person would be dead-tired and ready to crash in his bed after a grueling, 36-hour journey from Christchurch, New Zealand to Washington, DC. And I will admit, that was the way I felt. Yet somehow, all my somnolence vanished as soon as my head rested on my pillow and I closed my eyes to rest. A wave of recollections fell over me: memories of the survivors, the emotions they expressed, and their feelings of an uncertain future as they planned their lives after the loss of their family members. These feelings instantly took away all the desire to get rest and sleep. I sit upright now and begin writing this reflection of a once in a lifetime experience- a voyage of grief and hope to Aotearoa- land of the white cloud as the indigenous people call New Zealand.

With lost baggage, long flights and too many connections, at times it seemed unlikely that my eldest son Moaz and I would make it to Jumm’ah and Janazah prayers in Christchurch, New Zealand. But Allah subḥānahu wa ta'āla (glorified and exalted be He) accepted our prayers so that we could fulfill the guidelines set by our beloved, the Prophet Muhammad ṣallallāhu 'alayhi wa sallam (peace and blessings of Allāh be upon him). We were able to fulfill one of the rights of a Muslim over the others; that when he is sick visit him, and when she dies, offer her funeral and be part of her burial.

Hagley Cricket Ground was supposed to have a cricket test match between Bangladesh and New Zealand that Friday. Commentators reckon that it would have been the final day of that test match. But the 22nd of March 2019, brought a much bigger crowd to this world-famous cricket ground than what anyone would have seen on the final day of that test match.

Officials and security directed us towards the VIP area as they wanted to pay respect to the guests who traveled all the way from the USA, Canada, and Australia. The environment of love, solidarity, and respect, coupled with the hijab-clad women standing in solidarity with Muslims in that enormous crowd, created an impact which cannot be articulated by mere words. Every single uniformed female officer was carrying their firearm while donning a hijab; creating a welcoming gesture in a rather somber and gloomy atmosphere.

I do not have the words to thank the leadership of Charity Australia and the Islamic Forum of Australian Muslims (IFAM) for providing us with logistics, facilitating meeting the families of the “shuhudaa” (martyrs) and arranging to visit those injured in the tragedy. ICNA, Helping Hand, and Charity Australia banners highlighting the slogans of “American Muslims stand in solidarity with Victims of Christchurch New Zealand” were the center of attention for thousands of local New Zealanders gathered in solidarity that day. Their hugs, sincere prayers and tearful eyes were the greatest gift that I want to share with everyone reading these reflections.

Right after Jumm’ah, the majority of the crowd attended the collective Janazah prayer of 27 of the martyrs. In those emotional moments, I met with the most courageous woman on earth, the wife of 51-year-old Shaheed Naeem and the mother of 21-year-old Talha Naeem, the two spirited souls who gave their lives to save others in the mosque that day. She is one of the strongest women I have ever met. She mentioned that her husband, Naeem, was a person who lived the life of a man of service, always ready to help others. She described Talha as an angel who was too pious and too noble to be away from Jannah too long. We heard similar feelings from Naeem’s mother (grandmother of Talha) the next day when we visited their home.

The visit to the home of New Zealand’s national soccer team player, Atta Elayyan (33), was not only emotional but also deeply inspiring. Atta lost his life and his father (the founder of Al-Noor Masjid) was severely injured during this brutal and hateful attack. There were several scholars from the United States, including Sheikh Omer Suleiman, in the visit to Atta’s home. We could offer nothing to console the brave mother of this shaheed, who greeted us with words of courage and wisdom. We had no words to accompany the tears in our eyes, except prayers for the most noble young man who helped so many in coming close to Allah subḥānahu wa ta'āla (glorified and exalted be He).

Our visits to Al-Noor Masjid and the Linwood Islamic Center were also filled with memories of love, harmony, and reverence. There was a continuous influx of hundreds of visitors, not only from New Zealand, but also from different countries including, but not limited to, Australia, Fiji, and Canada.  Thousands and thousands of flower bouquets and other items of love were left by these visitors. I was really thrilled to see that local Muslims left many Qur’ans and flyers with basic concepts of Islam and addressing the common misconceptions about Islam for those visiting. I witnessed many people visiting these mosques were taking those Qur’ans and other books with them in order to learn more about Islam.

We also met Mr. Aziz, the unsung hero who repeatedly attacked the killer with different objects including an empty gun —which the killer had discarded. The terrorist fired on Aziz multiple times, but Allah subḥānahu wa ta'āla (glorified and exalted be He) not only saved him, but he also forced the killer to flee from the Linwood Islamic Center. Mr. Aziz was one of the reasons why the number of casualties in this mosque was only seven, compared to the 43 martyrs in Masjid Al-Noor. We also met certain individuals whom Allah subḥānahu wa ta'āla (glorified and exalted be He) saved miraculously. A young man showed his trousers fenestrated with holes of bullets but had no signs of injury. The husband and wife who entered the premises of the mosque and only to be showered with a burst of 26 bullets while in their car, leaving it completely destroyed. Yet Allah subḥānahu wa ta'āla (glorified and exalted be He) saved both of them while they took shelter in their vehicle.

The visit to the hospital’s ICU was simply heartbreaking but at the same time increased our resolve and commitment to help these families as much as possible. We encountered a Turkish brother who was in a coma for nine days and met his elderly parents, who spoke to us in the very little English they knew. The only thing which we could understand from their hushed voices was the request for du’a and tears of helplessness in their eyes. The 71-year-old father of a local Pakistani from Hafizabad, who had arrived two weeks ago to visit his son, was now on a ventilator fighting for his life. As a physician who has worked in ICU settings for a long time, I simply did not have enough medical reasoning which could have provided him any words of hope!! Similarly, I was not able to provide any glimmer of hope to a brother from Bangladesh whose wife will never be able to walk again and will be paralyzed for the rest of her life.

While I saw hope and felt resilience from every victim in that hospital, this hospital visit was brutally heartbreaking.

Lastly, I cannot imagine the pain, agony, and helplessness that the father of Mucad Ibrahim must feel after losing his 3-year-old son in his own arms. I gave him the longest hug possible, as he taught the whole world the meaning of Beautiful Sabr (Patience).

After seeing the devastation caused by the terrorist attack, and the work that must still be done to heal the community, Helping Hand USA, ICNA Relief Canada, and Charity Australia have formed an organization called the “Christchurch Family Support Network”. The operations have already begun, and our team is on the ground. The first group of mental health professionals with a background in Islamic Integrated counseling are set to leave to provide victims and their families immediate psychological assistance.

We ask Allah subḥānahu wa ta'āla (glorified and exalted be He) to accept our work, bring healing to the community, protect our brothers and sisters, and accept the shuhadaa’ in the highest level of Paradise.

Dr. Mohsin Ansari is the Vice President Islamic Circle of North America (ICNA) and the Chairman of Helping Hand USA (HHRD)

 

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Because Muslims Matter | Honoring The Martyrs Of #Christchurch

Hena Zuberi

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As the days go by, it is easy to forget the names and faces of the people who passed away. The horror of the act eclipses their memories. We do not want that to happen to our brothers and sisters in New Zealand.

اللهُـمِّ اغْفِـرْ لِحَيِّـنا وَمَيِّتِـنا وَشـاهِدِنا ، وَغائِبِـنا ، وَصَغيـرِنا وَكَبيـرِنا ، وَذَكَـرِنا وَأُنْثـانا. اللهُـمِّ مَنْ أَحْيَيْـتَهُ مِنّا فَأَحْيِـهِ عَلى الإِسْلام ،وَمَنْ تَوَفَّـيْتَهُ مِنّا فَتَوَفَّـهُ عَلى الإِيـمان ، اللهُـمِّ لا تَحْـرِمْنـا أَجْـرَه ، وَلا تُضِـلَّنا بَعْـدَه

Allaahum-maghfir lihayyinaa, wa mayyitinaa, wa shaahidinaa, wa ghaa’ibinaa, wa sagheerinaa wa kabeerinaa, wa thakarinaa wa ‘unthaanaa..

O Allah forgive our living and our dead, those who are with us and those who are absent, our young and our old, our menfolk and our womenfolk… [7]

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Shaykh Yahya Adel Ibrahim’s Message in the Wake of the #ChristChurchMosqueShooting

Shaykh Yahya Ibrahim

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We offer our condolences to our Muslim brothers and sisters in New Zealand and to all Kiwis. We feel your pain. We see your tears. We hear your cries and we mourn with you. The Ummah is with you- Editor’s note

Live broadcast:

The Mosque Massacre today in #NewZealand – From Hate, Love may bloom

Posted by Yahya Adel Ibrahim on Friday, March 15, 2019

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