00:00Dr. Mayun and colleagues, may I express again my profound gratitude to the Global Islamic
00:14Finance Leadership Committee for the War and I've said, which I alluded to earlier,
00:23it is meant for those who played a very significant role from the beginning,
00:32the activists, the thinkers, the academicians, the visionaries and the players.
00:41I am just accepting on their behalf because compared to their commitment,
00:47their sacrifice and their full dedication, my role is to further encourage.
00:56But this journey, as I've said, has always been collective.
01:01Our regulators combined prudence with foresight to build a resilient framework.
01:10Our financial institutions embraced innovation to provide Sharia-compliant solutions at scale.
01:19Our universities nurtured world-class scholars and thinkers whose ideas continue to inspire Islamic finance community.
01:29We are promoting a more serious research in this field to venture into Islamic finance in a broader framework.
01:44To give that impetus and confidence to deal with issues facing the Muslim world.
01:50Inequality, poverty, marginalization, which is more problematic and serious in the Muslim world as compared to the other regions in the world.
02:03So, as the world undergoes rapid changes, Islamic finance, therefore, must not only adapt, introduce instruments that have been used in New York or London, but to lead.
02:23Green sukuk can fund sustainable infrastructure.
02:29Digital platform can widen financial inclusion.
02:34Social finance instruments such as zakat, wakaf can be scaled up to uplift communities.
02:40You know, the world, in simpler layman's terms, is a mess.
02:48We are facing, discussing this morning, not only tumultuous, but in ways, exasperation.
03:06Things happening, bombings, you know, in the last few days, one country, such displacement.
03:17Such display of madness and arrogance can cause mischief and disasters and atrocities across a region.
03:35Of course, the worst affected the Gaza, the latest Qatar.
03:40And the world, including the Muslim world, seemed hapless to deal with it.
03:47And therefore, while taking a strong position, a principled stance against Israeli Zionist aggression, colonization,
04:05and display of utter arrogance and ignoring international law and order, we have therefore to ensure that we keep our house in order, do what is best, and promote ethical standards,
04:27rid our societies, rid our societies of endemic corruption and gross injustice and inequality, and propel our economy, including the viable alternative Islamic economics.
04:42So may I, again, conclude, Dr. Umayyoon, by thanking you on behalf of all those players, the bankers and players and the public, Muslims and non-Muslims alike.
04:59I remember in 1983 when he introduced this, there was a lot of concern expressed by many Muslims, particularly the elites, Western trained, Western mindset,
05:16who thinks who thinks were going back to the age of the camel, and many non-Muslims.
05:22But I take great satisfaction that here in Malaysia, the participation of Muslims and non-Muslims alike has been very encouraging.
05:33And that shows that we can offer a viable alternative, a more just, inclusive, sustainable alternative, through a more vibrant, more relevant, more ethical Islamic instruments in terms of banking and finance.
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