Newspaper Article

On January 14, a Bangladesh Bank (BB) letter announcing a �haircut� on deposit profits (no profit on deposits) for the five merged Islamic banks for 2024 and 2025 took depositors by surprise. Following widespread reactions, the decision was revised. The profit rate for individual term and scheme deposits has now been set at four percent for those two years, with a provision to adjust any excess profit already distributed against future profit distributions. In support of the previous decision, on January 15, the governor of the central bank had cited the BB�s Shariah Advisory Board (SAB) opinion that no profit can be paid in the event of a loss. He further explained that, as the concerned banks incurred losses during these years, the cancellation of profit is in accordance with Shariah principles and based on the SAB�s recommendations. Later on January 29, he mentioned that, although depositors do not have any entitlement to the profit, it will be provided as ihsan (benevolence) by the government. In addition, he announced that, from January 2026, the profit rate will be fixed at 9.5 percent for deposits with a tenure of more than one year, while deposits with a tenure of less than one year will earn nine percent. Since Shariah compliance is the foundation of Islamic banking, an unclear articulation of this claim and a lack of disclosure regarding Shariah decisions may raise concerns. For instance, the cancellation of already distributed profits and the fixing of profits in mudarabah contracts are contentious issues. Without clearly outlining the narrative and parameters of these measures, such decisions may lead to unintended consequences, including setting a precedent for Islamic banks to retrospectively revise their profits based on claims of Shariah compliance, thereby increasing depositors� risks. At the outset, it is worth noting that the Islamic banking system in Bangladesh has accumulated various weaknesses over time. Alongside forced takeovers and large-scale irregularities across several banks, persistent deficiencies in product structuring, governance, Shariah compliance mechanisms, and disclosure practices have been evident in many instances. Significant gaps are also apparent in the regulatory and supervisory framework, and laws and regulations generally do not distinguish between interest-based and Islamic banking. The cumulative effect of these shortcomings has created deep structural vulnerabilities in the sector.

Golongan orang kurang upaya (OKU) acapkali menghadapi cabaran berat dalam memperoleh peluang pendidikan, pekerjaan, serta kualiti kehidupan saksama dengan masyarakat umum. Tanpa sokongan bersepadu, golongan rentan sebegini akan terus terpinggir dalam arus pembangunan negara. Oleh demikian, Belanjawan 2025 dibentangkan Perdana Menteri, Datuk Seri Anwar Ibrahim menyasarkan untuk merubah situasi ini dengan memperkenalkan pelbagai inisiatif bersasar bagi meningkatkan kebajikan dan kesejahteraan OKU. Dalam Belanjawan 2025, kerajaan memperuntukkan lebih RM1.3 bilion khusus untuk golongan OKU dan kebanyakan tumpuan mungkin diberikan kepada aspek kebajikan, terdapat implikasi ekonomi lebih besar di sebalik peruntukan ini. Menerusi pemberian sokongan kewangan, peluang keusahawanan dan pendidikan kepada OKU, kerajaan juga merangsang pertumbuhan ekonomi negara. Peningkatan peruntukan bantuan OKU kepada RM1.3 bilion berbanding RM1.2 bilion pada 2024 bakal memberi kesan langsung kepada ekonomi. Sebagai contoh, golongan OKU menerima bantuan kewangan bakal mempunyai kuasa membeli lebih baik terutama barangan dan perkhidmatan asas, seterusnya menyumbang permintaan dalam ekonomi domestik, terutama dalam sektor runcit dan perkhidmatan. Apabila lebih banyak pengguna membelanjakan wang dalam ekonomi, ia merangsang aktiviti komersial. Ini adalah prinsip asas dalam ekonomi permintaan, yang mana permintaan barang dan perkhidmatan meningkat akan memacu pertumbuhan perniagaan, terutama dalam sektor seperti runcit, penjagaan kesihatan dan perkhidmatan.

As Malaysia steps up to chair ASEAN in 2025, it has an ideal opportunity to shape the future of Islamic finance across Southeast Asia. With ASEAN’s dynamic blend of cultures, economies, and religions, the region offers a fertile landscape for Islamic finance, with Indonesia being home to the largest Muslim-majority population in the world. Notwithstanding, despite this potential, each ASEAN member currently navigates Islamic finance in isolation, resulting in uneven development, market fragmentation, and inconsistent standards. A unified approach - spearheaded by a cohesive masterplan, tentatively named the “Islamic Finance Masterplan for ASEAN Collaborative Transformation” (or IMPACT) - could unlock ASEAN’s Islamic finance potential, estimated to reach nearly $600 billion in assets by 2030 if nurtured effectively. ASEAN already represents one of the fastest-growing regions in Islamic finance, driven by its large Muslim population and increasing demand for ethical finance products. This masterplan could make Islamic finance more accessible, resilient, and inclusive, addressing the financial needs of over 240 million Muslims in Southeast Asia and beyond. With Malaysia’s recognized expertise and established infrastructure in Islamic finance, the country’s 2025 chairmanship presents a pivotal moment to champion this initiative. Starting with achievable, impactful strategies, Malaysia can set ASEAN on the path toward deeper regional cooperation.

As of January 2023, Malaysia had 637, 537 registered persons with disabilities under the Social Welfare Department. Of this number, nearly 40% (235, 731) fall into the category of learning disabilities. Not all disabilities are visible or readily noticeable.

Anak berkeperluan khas sering memerlukan pendidikan khusus yang disesuaikan dengan keperluan unik mereka. Keperluan ini mungkin melibatkan pendaftaran dalam program pendidikan khas, mengupah tutor, ahli terapi pertuturan dan cara kerja atau mempertimbangkan pilihan persekolahan swasta yang lebih lengkap untuk memenuhi keperluan mereka. Justeru, demi memastikan anak berkeperluan khas mempunyai peluang untuk menjalani hidup secara mandiri, ibu bapa terpaksa berdepan dengan cabaran kewangan ketara yang boleh menyebabkan mereka terdedah kepada isu kerentanan kewangan.

Subsidi secara pukal bagi petrol RON95 telah menjadi isu utama kerana perbelanjaan besar yang mencecah RM81 bilion pada tahun 2023. Sebagai langkah mengurangkan beban fiskal negara, YAB Perdana Menteri Datuk Seri Anwar Ibrahim mengumumkan melalui Belanjawan 2025 bahawa golongan T15 atau mahakaya bakal dikenakan harga pasaran semasa bagi petrol RON95. Manakala 85% daripada rakyat akan terus menikmati harga subsidi RM2.05 per liter. Menteri Ekonomi Rafizi Ramli kemudiannya menjelaskan bahawa pengelasan subsidi ini akan didasarkan pada pendapatan bersih isi rumah berbanding pendapatan kasar bagi memastikan pengagihan lebih tepat. Kendatipun begitu, usaha ini harus dilaksanakan dengan berhati-hati umpama ‘menarik rambut dalam tepung, rambut tidak putus, tepung tidak berserak’ agar tiada pihak yang teraniaya.Rentetan cadangan untuk menetapkan ambang pendapatan RM13,000 sebagai syarat kelayakan subsidi telah menimbulkan kebimbangan signifikan, khususnya di kawasan bandar seperti Kuala Lumpur, di mana kos sara hidup jauh lebih tinggi berbanding kawasan luar bandar.