THIRD ISLAMIC ECONOMIC CONGRESS SEEKS NEW APPROACH

KUALA LUMPUR, Jan 11 (Bernama) -- The Third Islamic Economic Congress
beginning Monday, which is aimed at, among others, finding a new approach to
strengthen the economy of the Muslim community, is seen as timely in view of the
prevailing global economic situation.

With the theme, "Boosting Potential and Strengthening the Economy of the
Ummah (Community), the congress is also aimed at developing the potential of
Muslims, whether in creating funds, commercialising research findings or taking
advantage of the economic opportunities available.

The congress' deputy organising committee chairman, Mohd Yusof Abd Rahman,
said the four-day congress, jointly organised with the Islamic Economic
Development Foundation Malaysia (YaPEIM) and Islamic Consultative Council under
the Prime Minister's Department, would be held at the Putra World Trade Centre.

Deputy Prime Minister Najib Razak will open the congress and deliver the key
address entitled, "Boosting Potential and Strengthening the Economy of the
Ummah: Strategies Towards Outstanding Development", while the Regent of Perak
Raja Dr Nazrin Shah, will close the congress on Thursday.

Mohd Yusof, who is the Controls and Investment director at YaPEIM, said the
congress, a follow-up to the second held in 1972 and the 3rd Bumiputera Economic
Congress in 1992, would be a platform for evaluating the outcome of the
resolutions passed at the two meetings and improving on what had been achieved.

He said the outcome of the Second Islamic Economic Congress included the
setting up of the International Islamic University Malaysia, Bank Islam Malaysia
and YaPEIM.

The Third Bumiputera Economic Congress, meanwhile, resulted in the
inculcation of Islamic values and business ethics, improved zakat (tithe)
collection methods and inculcation of Islamic values in schools and higher
learning institutions.

At the 3rd Islamic Economic Congress, 35 working papers under nine topics
will be presented, covering areas such as the current socio-economic
state of the Muslim community, including in Malaysia and other Asean countries,
and efforts to empower Muslim entrepreneurs to explore the global economic
markets.

Also covered will be role of government-linked companies and other agencies
in empowering new Muslim entrepreneurs to make them efficient and be able to
compete, and optimising commercialisation of research findings.

-- BERNAMA