KANGAR, Nov 8 (Bernama) -- Raja Muda Perlis Tuanku Syed Faizuddin Putra Jamalullail has called on the people to give priority to the Islamic banking system because it complied with the religious needs of their banking affairs.
According to him, the system is free from elements contradictory to Islamic law.
“Actually, the Islamic muamalah system is the only one that offers fairness and equality to all parties,” he said when officiating this year’s state-level Islamic Muamalah and Tithe Endowment Awareness Seminar here today.
Tuanku Syed Faizuddin hoped Islamic financial institutions would provide the people with better explanation so that they would understand the importance of the Islamic muamalah system.
In conjunction with the seminar, Bank Islam Malaysia Berhad chairman Datuk Zamani Abdul Ghani presented RM20,000 to Perlis Malay Customs and Islamic Religious Council (MAIP) chief executive officer Mohd Nazim Mohd Noor as the bank’s contribution for MAIP’s Endowment Building project, which provides haemodialysis service at the Tuanku Fauziah Hospital here.