1MDB failed shariah yardstick, says Mujahid

State investment firm 1Malaysia Development Berhad (1MDB) has failed, a Parti Amanah Negara (Amanah) lawmaker said when measured in the context of Maqasid Shariah, an Islamic concept that emphasises the common good.

Parit Buntar MP Datuk Mujahid Yusof Rawa said the troubled firm failed to achieve the Islamic goal for the preservation of property and wealth because it was used for certain individuals, therefore jeopardising the interests of the people.

“When it comes to 1MDB, the basic issues are where the property came from, how the spending of the wealth gave justice to it so there would be no exploitation by anyone, the transparency of the transaction, and whether it resulted in good returns.

“But (1MDB) did not achieve such understanding of wealth distribution… (there is) no accountability at all. Property was used irresponsibly and exposed to exploitation for the benefit of certain individuals,” he said during think tank Penang Institute’s forum on 1MDB, accountability, and maqasid shariah last night in Bandar Perda, Bukit Mertajam.

The maqasid shariah “yardstick” in the case of 1MDB, which accumulated debts of RM42 billion in just a few years, was the preservation of property, Mujahid said.

Mujahid, who is also Amanah vice-president, said there was a lack of transparency and transactions involving 1MDB were questionable.

Later during the question-and-answer session, Mujahid said maqasid shariah would not solve all problems. “It is not a magic wand. Our current system already has laws to address issues. What we are facing is misuse of power,” he said.

Mujahid cited the passing of the Malaysian Anti-Corruption Commission (MACC) Bill at the Dewan Rakyat in 2009 in efforts to create a more powerful law to battle corruption.

The legislation was good but the system encountered problems at enforcement stage because there were favouritism and selective judgment in court, and interference in investigations by people with interest, he said.

Mujahid also raised the question on how free the parliament was, and stressed that a true democratic system was required to allow the people to elect the kind of leader they wanted.

“In the old days in Islam, there was a system to remove a leader who had lost the qualification to lead. A leader must uphold justice among others and if he fails, he can be removed.

“We don’t have this system but we have democracy. But can we remove a government we don’t want? Is there a fair playing field? No.

“To create that fair playing field, we need democracy. It is a necessity, not a choice; so we can have a fair leader. That is our maqasid. I am just using the system we have today. The substance is there,” he said.

Another speaker at the forum, Centre to Combat Corruption and Cronyism executive director Cynthia Gabriel proposed to Pakatan Harapan to internalise maqasid shariah in the administration of states held by the opposition coalition.

She said it would be important to highlight where the concepts of maqasid shariah could be internalised in the Pakatan states, as there were also issues of corruption and accountability to be tackled. – January 20, 2016.

Source : http://www.themalaysianinsider.com/malaysia/article/1mbd-failed-shariah-yardstick-says-mujahid#sthash.K27k2oB8.dpuf

Please Share to let more people know about this!