Set up institution which follows syariah laws, urges delegate

  • Nation
  • Saturday, 21 Jun 2003

A SPECIAL institution to lure international Muslim investors should be set up to convince foreign businessmen that their investments are in accordance with syariah laws, said Kelantan Umno treasurer Datuk Dr Awang Adek Hussein.  

“To attract them, they need to be given the assurance that the businesses they will be involved in are halal,” he said when supporting the motion on economy tabled by the Wanita wing at the Umno general assembly at the Putra World Trade Centre in Kuala Lumpur yesterday. 

“They must also be convinced that their investments are safe and they can expect good returns,” he added. 

He said the proposed institution should function like the Permodalan Nasional Berhad which successfully managed bumiputra investments. 

Earlier when tabling the motion, Wanita Umno exco member Raja Ropiaah Raja Abdullah urged financial insti- 

tutions to be “humane” towards those involved in  

tourism-related activities  

who were facing difficulties due to the Severe Acute Respiratory Syndrome.  

The financial institutions should be careful when trying to recover loans from them as they might end up killing the “goose that lays the golden egg,” she said. 

She added that those involved in managing the special funds for small- and medium-scale industries should be transparent and release the loans as soon as they were approved. 

Debating the motion, Perak delegate Datuk Husni Hanazlah said international branding was important for local producers who wished to market their products overseas. 

Citing the Tongkat Ali plant as an example, he said it was difficult to market products from the herbal plant in the international market. 

Kedah delegate Ku Rahman Ku Ismail said Class A bumiputra contractors who sold projects to non-bumiputras to make a quick buck should be blacklisted. 

Penang delegate Latif Mirasa said the Government should set up institutions and agencies to look after the welfare of urban Malays. 

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