Malaysian Muslim Business Council chairperson Muhammad Ali Hashim said corruption is the main cause for the high cost of living in the country.

Speaking in a dialogue ‘How the Islamic economy can control the market’ organised by the Sinar Harian daily yesterday, he said it was important for people to fight against trade monopolies and corruption.

This would increase the country's trade to ensure that the wealth of the country is shared equally.

“The jihad (struggle) against corruption is more important than the jihad against middlemen as there are many Malays and Muslims who are more involved in the former. Also the struggle against monopolies should be given attention as it promotes greed.”

It was reported on Jan 18, that the Federal Territories Minister Tengku Adnan Tengku Mansor ( right ) had criticised the attitude of middlemen who, when the government withdrew subsidies, took the opportunity to raise prices, and laying the blame on the government.

 

Tengku Adnan added that these middlemen, by burdening the people, had caused them to be anti-BN.

'Capitalist system encourages greed '

 

Muhammad Ali also claimed the capitalist free market system encourages greed which has resulted in the unequal distribution of wealth in the country.

 

“The free market is important, but there are dangers as the rich are getting richer and the poor are getting poorer. This does not only happen in Muslim countries but all over the world.

 

“The government cannot intervene in the economic market but it should not forget its role to balance the economy,” he said, adding that the government should initiate a platform where the people could increase their income, as subsidies and BR1M were only short term measures.

“Inflation affects the middle and lower income group. If this is not handled well, it may result in them being unhappy with the government,” he said.