Current monetary system the cause of our hardships?

By TMR

Is there something wrong with the current monetary system? Well, a group of academics and social activists are convinced that something is terribly wrong enough to prompt them to run a seminar on the issue.

Last Saturday, a seminar entitled “Current Monetary System is the Cause of our Hardships, Unending Rises in Prices, and Unemployed Youths and Graduates” attempts to bring some attention to their argument.

The half-day seminar in Shah Alam was organised by the Movement for Monetary Justice Malaysia (MMJ) and Malaysian Consultative Council of Islamic Organisation.

When discussing the hardship faced by the people, the organisers argued that it had never been directed towards the monetary system.

The seminar intended to discuss the ills of the current monetary system as well as “unveil one by one
the evil” of the system.

“Money is a very important tool in life today. It becomes the intermediary for the exchange of goods and services in our society. It is a necessity but at the same time, if the wrong monetary system is practised, it can be a very heavy burden on people’s lives, as well as a burden on the country and religion,” according to a document promoting the seminar.

One of the key speakers was MMJ chairman Prof Datuk Dr Ahamed Kameel Mydin Meera, a former economics professor at the International Islamic University Malaysia. He is also author of three books related to the seminar topic: Islamic Gold Dinar, The Theft of Nations and Real Money.

The other speakers included MMJ deputy chairman and former Islamic banker Muhammad Zahid Abdul Aziz, Universiti Malaya economics Prof Dr Mohd Nazari Ismail, former CEO of an Islamic bank Datuk Abdul Manap Abdul Wahab and Shariah expert Noor Derus.

MMJ describes itself as a group of academicians, ex-bankers, scholars, professionals, activists, students and ordinary people determined to reform the monetary system to ease its intense burden on the rakyat.