VOI - Voice of Indonesia | RRI - Radio Republik Indonesia

President Joko Widodo (Jokowi) supports establishing the World Syuro (Consultative) Assembly, initiated by the Indonesian People's Consultative Assembly (MPR), to promote a harmonious, peaceful, and civilized Islamic world order, MPR Chairman Bambang Soesatyo (Bamsoet) stated.

"President Joko Widodo fully supports MPR’s efforts to form the World Syuro Assembly that will serve as a forum for the people's consultative assemblies from various countries having a similar system, especially Muslim-majority countries in the world," Bamsoet noted in his statement in Jakarta on Thursday.

Bamsoet held a meeting with President Jokowi at the Bogor Palace, West Java, on Wednesday (July 8).

Jokowi's support would further bolster MPR’s enthusiasm to declare the establishment of the World Syuro Assembly in August 2021.

The World Syuro Assembly will also initiate the formation of the World Sharia Stock Exchange or Global Sharia Stock Exchange in response to the chaotic global economic conditions owing to extended periods of capitalism and liberalism.

Establishment of the Global Sharia Stock Exchange is projected to facilitate the realization of an Islamic Capital Hub in the world’s capital market industry.

"As a start, the World Sharia Stock Exchange may involve various well-known stock exchanges, such as the Malaysian Islamic Capital Markets, Istanbul Stock Exchange, and Dubai Financial Market. This idea needs to be further studied and explored by various economic experts from various world countries, facilitated by the World Syuro Assembly," he remarked.

The Golkar Party politician opined that parliaments were instrumental in pushing the governments of their respective countries to break free from the shackles of capitalism.

Thus, by prioritizing the Islamic financial industry, in addition to avoiding usury, economic actors will not make speculations on currencies.

"Simply stated, money is used to meet the needs of the real sector and not merely for the sake of speculation that ultimately makes the liberal economy vulnerable to the crisis. This is what is occurring now. A trade war is ongoing between China and the United States, and in the process, all countries are affected. This is owing to an imbalance in the world economic order," he pointed out.

"The world’s approach must be changed to that of mutual help and human solidarity that gives opportunities to one and all to attain prosperity and welfare," he stated.

Moreover, the World Syuro Assembly is expected to establish a global Halal hub. (ANTARA)