Anwar: Finance must serve people, not enslave them

PRIME MINISTER Datuk Seri Anwar Ibrahim has called for financial systems to put human welfare ahead of financial interests, warning that justice, transparency and accountability must remain at the heart of economic and financial institutions.

He said the principle was increasingly important as the world faced economic instability, geopolitical tensions and widening inequality, requiring financial systems to be guided not only by profit but also by ethics, justice and compassion.

“The question before us today is not merely technical. It is a moral question: how do we ensure that finance serves humanity rather than humanity becoming enslaved by finance?

“Justice, transparency and accountability must remain the core of economic and financial institutions, in line with the moral imperatives of Islam,” he said.

Anwar's speech was delivered by Minister in the Prime Minister's Department (Religious Affairs) Senator Datuk Zulkifli Hasan at the opening of the International Shariah Scholars Roundtable (iSHAR) 2026 in Kuala Lumpur today.

He said the Malaysia MADANI framework called for a balance between economic growth and moral responsibility, as well as between profit and broader social objectives.

“Malaysia MADANI demands a balance between economic growth and moral responsibility, between profit and noble objectives.

“Islamic finance, rooted in Shariah principles, offers an appropriate framework for this balance,” he said.

Anwar also called for stronger Shariah thought leadership rooted in tradition while remaining responsive and agile in addressing contemporary developments in Islamic finance.

He said such leadership should be strengthened through strategic cooperation among scholars, regulators, financial institutions and economic players to ensure Islamic finance remained relevant, innovative, inclusive and globally competitive.

“Let us move beyond the boundaries of dialogue. Let us accelerate our efforts towards implementation.

“Let us ensure that all the ideas and insights generated here are translated into policies, products and practices capable of upholding human dignity and protecting society,” he said.

Anwar said iSHAR should go beyond intellectual discussion by producing practical outcomes that could have a tangible impact on society.

He said no country, institution or scholar could address the challenges confronting Islamic finance alone.

“This gathering reflects a noble truth that no country, institution or individual scholar can address these challenges alone.

“We must strengthen strategic cooperation among scholars, regulators, financial institutions and the economic world,” he said.

The iSHAR 2026 conference, organised by Bank Rakyat, brings together Shariah scholars from Malaysia and several Southeast Asian countries, including Indonesia, Brunei, Singapore, Thailand and the Philippines, to discuss contemporary Shariah issues and the future direction of Islamic finance. - October 2, 2026