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Saturday, 1 August 2009

Islamic economic system could tackle global crisis: Indonesian VP

JAKARTA, July 27 (Xinhua) -- Indonesia's Vice President Jusuf Kalla said that Islamic economic system could tackle the global economy crisis because it was based on real transaction and could create prosperity and economic justice, the private news portal reported on Monday.

"Islamic world should adopt its own economic system to reduce economic gap amidst 'non-real transactions' in the global trade," he said in the opening speech at a seminar titled "the Islamic World and the Future of World Civilizations", here.

According to Kalla, Islam population, accounting for 25 percent of total world's population, will not suffer if Islamic values in its economic system was implemented properly.

Kalla urged all Muslim countries to adopt Islamic economic system to change the non-real economic paradigm.

"This is our chance to change the world because this (Islamic economy) is from Allah. We could make the world better," he said.

Kalla also urged the Islam world to be united to tackle social problem like poverty. He said that currently, 70 percent of Islam people in developing countries live close to poverty whereas others were very rich thanks to skyrocketing oil price.

In the last few months, oil price has been steadily above 50 U.S. dollars per barrel, making the oil-producing countries, especially Muslim-dominated countries in the Persian Gulf, richer.

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