By Yusrin Junaidi
BANDAR SERI BEGAWAN, 25 OCT – Around 600 participants consisting of government and private agencies, higher education institutions and the general public attended the premier forum titled Economic development of the Ummah through the appreciation of Muamalahlocated at Dewan Sutra, The Rizqun International Hotel, Gadong yesterday.
The forum that discussed how muamalah can be used as a basis for the economic development of Muslims was attended by the guest of honor of the event, the Deputy Minister of Finance and Economy (Economy), Dato Seri Paduka Haji Khairuddin bin Haji Abdul Hamid.
The forum, organized jointly with Seri Begawan College of Religious Education (KUPU SB), An Naafii Co, Sahabat Ustaz Abdul Somad Brunei and PAY Events, emphasized the ‘Dynamic Economy’ which explores how Islamic values ​​can be applied in the context of the country’s economic development.
Ra’es KUPU SB, Associate Professor Dr Abdul Nasir bin Haji Abdul Rani as the first panel highlighted the role of zakat and waqf in improving the economic well-being of the ummah when he explained the importance of understanding the behavior of zakat recipients first before zakat is given.
Associate Professor Dr added by explaining that the whole system becomes inefficient if the zakat received is more focused on meeting daily needs and suggests that zakat should be invested like the initial capital of a business and further help improve the economy of zakat recipients.
Regarding waqf, according to Associate Professor Dr, waqf funds should be seen beyond the material form and suggest the use of waqf for other things such as for the advancement of education, skill development or educational training for the community, especially for the less able.
In addition, Waqf funds can be given to complement the needs of the community such as private lands that are endowed and the construction of commercial buildings, for economic activities.
Therefore, professional management in collecting and distributing zakat and waqf can help the country in dealing with the issue of poverty and encourage people to give zakat after seeing the advantages and benefits to the community and the country.
Professor Dr Haji Abdul Somad as the second panel discussed the application of syariah principles in the operational activities of the syariah financial board.
This includes compliance in muamalah such as giving good goods, not deceiving and persecuting buyers. Among the sharia economy products as presented include sharia finance, halal food, medicine and cosmetics, media and recreation as well as others which are all in the form of the needs of the Muslim community.
Among the objectives of the forum is to increase understanding of the role of muamalah in the economic development of the ummah and further coordinate the principles of Islamic economics with the goal of a ‘dynamic economy’, the Brunei National Vision 2035.
The forum is also expected to be a forum for dialogue and collaborative discussion between scientists and the community in an effort to advance the economy based on Islamic teachings.
