ISLAMIC FINANCE.... FOR THOSE WHO AGAINST IT

It has been a while since I wrote my last entry. This one was taken from my status in my Facebook.

To quote Badlisyah, CEO of CIMB Islamic Bank "22% of banking assets are from Islamic banks, 60% or more for capital markets particularly debt market whilst 80% in equity alone" and "It's easier to sell Islamic banking products to non-muslims than to muslims" (why I am not surprised with this statement.....hmmmm). My 5 cent advice before you want to be look as champion for 'against' so-called Islamic banking/ Islamic finance is: 

(1) get to know the difference between Islamic banking and Islamic finance. If you cannot tell the difference in 5-10 words, you have a very long way to go, so pray harder.

(2) get to know what are banking products and capital market products (be it conventional and Islamic) plus insurance and takaful.

(3) If you think the Islamic finance was developed over last 20-30 years ago, you have a long way to go.... so pray harder.

(4) If you are so overwhelmed with fatwas from so-called ulama' from another countries that against Islamic finance and took it as bona fide statement, let me tell you a story; there was one a Great Grand Mufti, a Great Shariah Advisor, shook the world when he claimed that 80% of the Sukuk were not Shariah compliant (while he forgotten that three quarter of Sukuk floating around the world were stamped by him that led him to be a multi-millionaire, nick-named as Brad Pit of Islamic finance). Till now I dont know what turned him from Shariah advisor to Shariah celebrity.

(5) to condemn one's country financial system, make sure your country is way better off than the country you are criticizing. This is more like 'tale of two cities'; one uzbekistan guy criticized of how devious and devilish of Islamic banks in Malaysia (based on the analysis by singaporean professors on the average Islamic banking's profit income and expenses as compared to conventional bank's interest income and expenses, probably on hourly or daily basis for the last 20-30 years and run it on the Eviews, and resulted that the movement between profit & interest significantly co-vary between each other). Therefore, the profit of Islamic banks is as good as conventional interests so they say. Since i happened to be in that forum, I told everybody that at least Malaysia eager to have alternative ways in running its own financial system. Some country dont even have Central banks (uzbekistan is one of them). The same pay-out doesnt justify both animals are same. They may be similar due to intense competition between conventional and Islamic markets with close monitoring by central bank. Coke is Coke and Pepsi is Pepsi. And thats why Britnney Spears lost her million dollar Coke contract when she was pictured drinking Pepsi.

(6) Stay away from people who are propagating Islamic finance can be understood by 'only' reading classical Shariah books, fatwas and ijtihad by the imams for the last 1000 years ago. Why? to understand Islamic economics, understand the conventional economics first. To understand Islamic finance, understand what is conventional finance first. Islamic finance is about Islam (religion) and finance. Period. 

(7) Some Shariah advisor from middle east do not have degree, let alone doctorate but people recognized them due to lineage from ulama' family and the tradition of their family and their fatwas are worthily uphold. They are competent enough to sit together with Sheikul Al-Azhar. Over here, it is not uncommon to hear from ustaz/ ustazah in Malaysia to preach Islamic finance is not in any classical books. It is a modern invention. Go dig my Note No.(3) above. Therefore, please, please, please,..before you listen to your ustaz/ustazah in TV/ youtube/ radio/ go dig their background first, where he acquired the knowledge. Some of them are worth listening only on how to take mandatory bath (aka mandi wajib). 3 big Shariah specialization: (1) Jinnayah (jenayah), (2) Munaqahat (marriage or perkahwinan) and Muamalat (transactions and contracts). To deny existence of Islamic finance is as good as denying Muamalat in Shariah. Therefore, go dig my Note No.(3) above. 

I'm not claiming the system (be it the banking and capital market) is perfect. There are still holes be it in law system to the operations which need to be perfected. However, I believe that the effort is worth to take rather than sit down and talk about it. Wise man used to say to me, its better to be in the field and trying your best to win the game rather than be the spectators and yell out to the team. At least, while playing with the team, we 'in control' of the situation. If we become spectators, we're not 'in control' of anything except our mouth. It's your choice either to play the game or be the supporters. There were saying that our 4 Imams, they will be granted with 2 pahala if their ijtihad are in line with Islamic percepts and 1 pahala if its not. This shows that Islam uphold the 'efforts' more than others. Wallahuallam.

10 Nasihat Untuk Menjadi Isteri Solehah

10 Nasihat Untuk Menjadi Isteri Solehah

copy from: http://www.myberita.com/10-nasihat-untuk-menjadi-isteri-solehah/

HATI ibu mana yang tidak gembira tatkala anak gadisnya dipinang orang. Sukanya hati bukan kepalang lalu pelbagai langkah bersiap untuk melangsungkan pernikahan dijalankan menurut tertib dan adat.

Biasanya ibu dan ayah akan bertungkus-lumus berusaha menjadikan majlis akad nikah puteri kesayangannya dengan penuh komitmen supaya meriah dan ceria.
Adalah wajar ibu bapa pengantin wanita memberikan petua dan nasihat buat anaknya yang bakal melangsungkan pernikahannya. Nasihat supaya anak memelihara dan menjaga alam rumah tangganya sebaik yang terdaya.

Inilah yang pernah dilakukan isteri ‘Auf ibnu Mihlam Asy-Syaibani yang dikatakan ada memberi nasihat kepada puterinya yang akan bernikah dengan Raja Kindah. Pesan isteri ‘Auf Ibnu Mihlam Asy-Syaibani: “Puteriku, kini engkau meninggalkan tempat kelahiran menuju rumah baru dan orang baru yang belum pernah engkau ketahui keadaan dan wataknya. Maka, jadilah engkau sebagai pengabdi yang baik bagi suamimu, supaya dia menjadi pengabdi yang baik juga bagimu. Perhatikan baik-baik sepuluh perkara daripadaku supaya ia menjadi modal bagi hidupmu.”

Begitulah kasihnya isteri ‘Auf terhadap anak gadisnya, tetapi kasihnya itu bukan mengadakan majlis besar-besaran dan serba mewah, kasih sayang dizahirkan melalui kaedah menyalurkan nasihat berguna buat anaknya melayari alam rumah tangga supaya aman sejahtera dan bahagia.

Pesanan pertama kepada anaknya: “Jadilah engkau sebagai pendamping hidupnya yang selalu menerima apa adanya. Sebenarnya nasihat isteri ‘Auf itu bertepatan kehendak agama kerana sikap qanaah, bersedia dengan hati lapang terhadap kemampuan suami, menu keharmonian rumah tangga”. Erti kata lain, isteri tidak sesekali membebankan suami yang di luar batas kemampuannya. Inilah seharusnya ada pada diri seorang isteri solehah.

Seterusnya pesanan kedua beliau: “Bergaullah engkau bersama suamimu dengan cara mendengar dan mentaatinya.” Seorang Ulama’ pernah mengatakan: “Seseorang isteri itu hendaklah memberikan layanan pada suaminya, memelihara anak, mengatur urusan rumah tangga sebaik mungkin. Hendaklah dia memberikan layanan pada suami dengan layanan yang wajar dan sesuai keadaan.”

Isteri ‘Auf berkata lagi: “Tunjukkanlah dirimu di hadapan matanya sebagai seseorang yang paling menarik baginya dan tampilkan dirimu di hadapan hidungnya sebagai seseorang yang paling harum.” Kebijaksanaan dan kesediaan isteri menonjolkan imej peribadi dalam aspek lahiriah dan dalaman mampu mewujudkan hubungan lebih intim pasangan suami isteri. Ia ibarat suatu tembok pengukuh dalam membina keluarga bahagia melalui landasan diredai Allah.

Beliau juga berpesan supaya memperhatikan penjadualan waktu makan yang betul dan tepat serta menjaga ketenteraman masa tidur. Jadi, jika diteliti apa dipesan isteri ‘Auf kepada anak gadisnya, sesuai dan relevan dijadikan sebagai pedoman kita semua.

Pesanan lain, “Sesungguhnya kelaparan seseorang akan menyebabkannya mudah beremosi dan kurang tidur pula menyebabkan seseorang itu mudah melepaskan kemarahan.”
Ini adalah langkah proaktif isteri mengelakkan suasana kurang baik dalam berkomunikasi dan berhubungan dengan suami. Memang lumrah manusia, emosi menjadi kurang stabil dan mudah dibelenggu rasa kurang tenang apabila perut lapar atau kurang tidur. Lagilah bahaya kerana emosi negatif boleh meletup tanpa disangka. Justeru, apa yang disarankan isteri ‘Auf adalah jalan pintas untuk membendung anasir negatif daripada muncul dalam rumah tangga. Mengamalkan budaya mencintai kebersihan juga ditonjolkan dalam wasiatnya supaya anaknya menjaga kebersihan tempat tinggal, keamanan harta suami dan berikan perhatian kepada suamimu serta keluarganya.

Jika kita amati pesanan itu, kita akan jumpa peringatan terbaik mengenai penjagaan persekitaran rumah tangga yang ceria dan bersih. Juga terselit ingatan supaya isteri menjadi seorang yang beramanah menjaga harta benda dalam rumah tangga.

Pesanan beliau selanjutnya dikira penting dipelihara rapi oleh isteri. Kata beliau: “Janganlah engkau membuka rahsia suamimu kepada orang lain dan jangan engkau melanggar perintahnya”. Islam menegah isteri menceritakan hubungannya dengan suami atau hal rumah tangga kepada orang lain.

Yang terakhir katanya: “Janganlah engkau berasa susah ketika dia dalam keadaan senang dan janganlah engkau berasa senang ketika dia dalam keadaan susah, kerana yang pertama termasuk moral yang tidak sesuai dan yang kedua termasuk merosakkan suasana. Jadilah engkau orang paling mengagungkan suamimu, agar dia menjadi orang yang paling memuliakanmu.” Begitulah pesanan bermanfaat dan cukup indah dikemukakan isteri ‘Auf Ibnu Syaibah kepada anak gadisnya. Ibu bapa sewajarnya menitipkan pesanan untuk dijadikan panduan kepada anak yang akan melangsungkan pernikahan demi kesejahteraan rumah tangga mereka.

INFO: 10 pesanan jadi isteri solehah
1) Sentiasa menjadi pendamping suami, menerima segala kekurangan dan tidak membebankan suami.
2) Mendengar dan mentaati suami.
3) Memberi layanan baik kepada suami, pelihara anak dan menjaga rumah tangga.
4) Sentiasa tampil menarik dan wangi untuk suami.
5) Mampu mewujudkan hubungan intim yang baik dengan suami.
6) Menjaga makan minum suami yang betul, tepat serta waktu tidur bagi elak emosi suami terganggu.
7) Sentiasa menjaga kebersihan diri dan tempat tinggal.
8) Amanah menjaga harta benda dalam rumah tangga.
9) Isteri tidak boleh membuka aib suami dan hal rumah tangga kepada orang lain.
10) Isteri kena jadi orang yang paling mengagungkan suami.

Sumber:  http://www.myberita.com/10-nasihat-untuk-menjadi-isteri-solehah/

THE FINANCIAL CRISIS OF 1997 - 1998 By Nor Mohamed Yakcop

THE FINANCIAL CRISIS OF 1997 - 1998
By Nor Mohamed Yakcop
A moment comes, which rarely comes in a lifetime, when a particular event redefines a person’s life and changes the course permanently.

For me, the meeting with Dr. Mahathir Mohamad in Buenos Aires (Argentina) on the evening of October 3, 1997 was such an event.

It enabled me to devote the next 6 years of my life working for Dr. Mahathir Mohamad, meeting him almost daily. In the process, it enabled me to see, at very close range, the abilities of this great man.

The combination of many noble qualities in one person is rare, and it is this unique combination that has enabled Dr. Mahathir Mohamad to transform Malaysia from an otherwise typical third world country into a thriving and vibrant nation, well on the way to become a developed nation.

It is also this combination of qualities that enabled Dr. Mahathir Mohamad to save Malaysia from becoming another IMF nation during the financial crisis of 1997 - 1998.

Wawancara Tun M Mingguan Malaysia 17/2/2013

TUN Dr Mahathir Mohamad masih cergas dan terus bekerja walaupun sudah hampir 10 tahun bersara daripada jawatan Perdana Menteri Malaysia. 

Pada usia hampir menjangkau 88 tahun pada 10 Julai ini, beliau masih ke pejabat pada setiap hari bekerja manakala pada hujung minggu, menyampaikan ucapan apabila menerima jemputan. 

Selain itu, beliau turut menulis di dalam blognya, CheDet, dan menyumbang artikel kepada akhbar The News Straits Times dan Utusan Malaysia. 

Are we Muslims are that gullible and confused?

"Capital as such is not evil; it is its wrong use that is evil. Capital in some form or other will always be needed" (Modal bukanlah kejahatan, ia baru akan menjadi kejahatan kalau disalahgunakan. Modal dalam bentuk tertentu atau lain-lain akan sentiasa diperlukan)  - Mohandas Karamchand Gandhi aka Mahatma Gandhi

Sadly speak, even some Muslims believed Capital per say leads to capitalism (John Calvin, Max Weber, Adam Smith). Therefore, they resort to socialism. Indirectly, these people shared the same spirit of Karl Marx for that matter. His masterpiece 'Das Capital' aka 'The Capital' spells out the effect of capital that can outrageously leads toward unfairness to the society. To him, the very essence of a capitalist is his desire to gain surplus-value. Socialism and communism are alike. Socialism is primarily an economic system, while communism is both political and economic. The fact that Socialist Party did exist for quite some time was a successor from the lefties like PKMM, API, AWAS and PETA alike. It was not a surprise when some Muslims did involved in communist guerrilla activities even though the highest order in communism is to accept equality in every way, and the existence of God is not in the dictionary. To these Muslims, their fight was to eradicate poverty, equality and justice in the economics system and for the betterment of the Country even if they have to assimilate in un-Islamic movements. Clearly, Machiavelli doctrines was well accepted on this very land.

Capitalism and democracy, are the twin ideological pillars capable of bringing unprecedented prosperity and freedom to the world. Together they come hand in hand, we've long been told. Now, be it capitalism, socialism, democracy and communism, they are all man-made. They are not perfect. They are far from perfect. Consider this, when socialism is perceived as an economics system for communism, China became super power by replacing capitalism without changing its political stand. Now we have combination of capitalism and communism. Whats left was communist countries like Cuba that became brouhaha for being able to provide free education. Have anybody noticed that how many Cubans can even steps into tertiary education system?

Sometimes I wonder of why in Khutbah Jumaat or Friday sermons, we never talk about the Market system. Islam is not against market system per se. Islam does not deny the market forces and market economy. Even the profit motive is acceptable to a reasonable extent. Private ownership is not totally negated. Yet, the basic difference capitalist and Islamic economy is that in secular capitalism, the profit motive or private ownership are given unbridled power to make economic decisions. Their liberty is not controlled by any divine injunctions. If there are some restrictions, they are imposed by human beings and subject to change through democratic legislation.

I have seen people associating KFC barrel price and raw bird as capitalism? but they never questioned their father for running coffee shop as associating with capitalism or freemason or illuminati for that matter (huhuhuhuhu..... probably the shop was set up on the holiest land on earth.....yeahh right). I have seen people obsessed with socialism as way of life.

My question now, are we Muslims are so gullible and confused?

Power corrupts, absolute power corrupts absolutely. These are the sins to avoid..

Power corrupts, absolute power corrupts absolutely. These are the sins to avoid..

1. wealth without working,

2. science without humanity,

3. business without morality,

4. lastly, politics without principles (U-turn, flip-flop aka kluk-klek).

Ini bumi yang aku pijak. Itu langit yang aku junjung.

Ini bumi yang aku pijak. Itu langit yang aku junjung. 

Bila mana aku jumpa si hantu makan dedak atau si anak penjaja kedai kopi yang jelongak kerbau rampung, aku akan ingatkan diri aku, ini lah si buntat yang kepingin menjadi gemala sementelah si bungkuk baru betul. Bila si kaduk naik junjung, bulatnya bersegi, bila bersanding, ia melukai. Apa yang hendak dikata lagi, pemuka-pemuka ugama laksana bangsawan. Lebih bangsawan dari bangsawan. Uang pelincir disalir berlapik kartas haram diberi diambil lagaknya, tapi tanah pusaka tergadai ke Langkasuka dan Temasik tidak apa? Bagai air daun talas, walaupun buaiannya digoncang, namun anak masih dicubit. Laksana kucing pemuka naik haji, pulang si kucing mengeong juga. Lurus-lurus paku, hujungnya berbentuk juga. Masakan mentari boleh dilindungi dengan nyiru? Pokoknya, mampukah kita biarkan biduk tiris menanti karam?

Walau ada yang bilang si bulang sali kacak sama, tinggal lagi mujur malang, bagi kita, biar kena tampar dengan jari yang bercincin daripada kena jentik dengan tangan yang berkudis. Diam kita bukan kerna penggali berkarat, diam kita ubi berisi. Kita bukan lagi bersuluh dengan batang pisang, tapi bulan mentari. Dengan nama yang Maha Esa. Dengan warisan wasiat sembilan Raja-Raja Melayu. Ayoh, kita rapat-rapatkan saf. Masa hampir tiba untuk tanjak sonsang.

Ini bumi yang kita pijak. Itu langit yang kita junjung.