1 Malaysia

No forex trading for Muslims

KOTA BARU: The National Fatwa Council has ruled that foreign exchange trading (forex trading) is forbidden or haram for Muslims.

Council chairman Tan Sri Dr Abdul Shukor Husin said forex trading was against Islamic law.

“A study by the committee found that such trading involves currency speculation, which contradicts Islamic law.

“For that reason, the National Fatwa Council has decided that it is haram for Muslims to participate in such trading,” he said after chairing the Council’s 98th conference here yesterday.

Abdul Shukor said Muslims should not participate in forex trading as there were many doubts about it, given that it involved individuals using the Internet with uncertain outcomes.

“Other forms of trading in foreign currencies, such as trading by money changers or between banks, are permissible as they do not involve currency speculation or uncertain outcomes,” he said.http://www.blogger.com/img/blank.gif

He said the meeting also decided that it was permissible for Muslims to invest or save under the Premium Saving Certificate scheme by Bank Simpanan Nasional http://www.blogger.com/img/blank.gif(BSN).

He said the committee was satisfied with the briefing given by the Bank Negara’s syariah panel regarding the scheme’s implementation.

He added that the committee also agreed to formulate guidelines on Muslim couples having their wedding ceremony in a mosque to allay doubts that the ceremony purportedly follows Christian practices. — Bernama

Link @the star

Malaysia relaxes forex rules to boost mart
Link of source

BANK Negara Malaysia (BNM) further liberalised its foreign exchange rules yesterday, in a move to develop the domestic financial markets.

It said these measures, which will take effect from today, are in line with the Financial Sector Masterplan, which was launched last month.

Licensed onshore banks, whether commercial, investment or Islamic, are now permitted to trade foreign currency against another foreign currency with a resident for any purpose.

This means that residents will now be allowed to buy and sell any foreign currency (except for new Israeli shekel) against another foreign currency instead of being restricted to buying and selling foreign currency against the ringgit.

They can fund the foreign currency trading activities from their own existing foreign currency funds, conversion of ringgit on spot basis and through permitted foreign currency credit facilities.

Money changers and approved remittance service operators are allowed to buy and sell foreign currency with residents and non-residents on cash basis.

BNM said onshore banks will also be allowed to offer ringgit-denominated interest rate derivatives which include interest rate futures, options and swaps to a non-bank non-resident.

The central bank has also allowed residents flexibility to convert their existing ringgit or foreign currency debt obligation into a debt obligation of another foreign currency.

Currently residents with domestic ringgit credit facilities are allowed to convert ringgit up to RM1 million per calender year for individuals and up to RM50 million on a corporate group basis.

BNM also said that the conversion through swap of an existing ringgit debt obligation should not lead to actual delivery of foreign currency at the inception of the transaction.

For example, a resident exporter due to receive foreign currency export proceeds periodically and has an existing ringgit loan from a licensed onshore bank can now have a swap transaction to convert the ringgit debt obligation into foreign currency obligation to match the foreign currency export receivables.

It added that a resident can also convert through swap his existing foreign currency debt obligation with a licensed onshore bank into another foreign currency debt obligation with a non-resident bank or vice versa.

All conversions are subject to prevailing rules on foreign currency credit facilities.


Read more: Malaysia relaxes forex rules to boost mart http://www.btimes.com.my/Current_News/BTIMES/articles/rup30bb/Article/#ixzz1mbXnodgL

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Long Debate

amnesty malaysia-police-use-brutal-tactics

JULY 12 — “Are you ready to die for the country?” I asked as I walked together with Simeon heading from Mirama Hotel on Jalan Maharajalela to Petaling Street.

My honest answer to my own question was, “No. I don’t believe I should die now. When I’m only 24. There is so much more that I want and believe I can do for my country.”

“But what if it takes bloodshed for people to wake up? What if we were the ones to go — so that people will finally realise the need for change?” was Simeon’s reply.

***

I was driving home on Thursday night when this motorcyclist, thinking I was endangering his life, rode very fast... honking the whole way. And as he approached my car, he bent over and shouted at the top of his lungs at me.

Wow, I thought. If this was how it’s like when there’s NO rally, I cannot imagine what would happen on July 9th.

I thought of chickening out.

***

I flip-flopped the entire July 8th. To go, or not to go? Every time somebody asked me if I was going, I flashed them a nervous smile.

What if I die? What if I don’t die... but end up with a disability? Gaahhh.

But the biggest why was — WHY DO I FIND MYSELF FEARING THE GOVERNMENT? THE VERY PEOPLE WHO ARE SUPPOSED TO MAKE SURE I’M SAFE?

***

I knocked on the door of 608. And after a request for the “Secret Password”, the door was opened to 13 other people. Young people. People I call friends.

I sat amongst them, and we talked late into the night. Of our game plan. How we would run. What we would need to counter the possible attacks we would face.

We slept. And woke to the sound of FRU trucks moving into the city.

You would have thought it was World War III.

***

We packed salt. Prepared bi-carb soda solution. Soaked our towels in vinegar. Prayed. And left in twos and threes.

We walked towards Petaling Street. People we met along the way were silent.. It was the calm before the storm. Grim. None of us knowing what would happen.

As we walked further into the heart of the city, we heard chants.

“Hidup, hidup! Hidup Bersih! Hidup, hidup! Hidup Rakyat!”

And something in me started. It was a growing excitement.

We followed the crowd. Chanting as we walked along.

Deep inside me, I was still afraid. I looked around me. Most people do not have the same colour skin as me. If a riot was to break out, I would have been Peking duck in two seconds.

We looked on. And strategized to join the crowd and be in the middle. Lest anything should happen, at least we were not in the vulnerable fringes.

***

Menara Maybank.

1 Malaysia #1. I met an elderly Chinese auntie. This was not her first rally. The Anti-ISA rally was her first. She was doing it for her children, she said.

Tear Gas #1. We ran helter-skelter.

***

Tung Shin Hospital.

We were waiting with the rest to march to the stadium. But the Men in Blue gave us no rest.

Tear Gas #2. We ran helter-skelter again.

We ran into the shelter, eyes, nose and throat hurting from the gas.

ALL I WANT IS CLEAN AND FAIR ELECTIONS! WHY AM I TREATED LIKE A CRIMINAL?

***

1 Malaysia #2. We ran into the shelter. Eyes still stinging.

Four Malay boys who were standing around offered us salt.

“Rub it around your eyes and put some in the roof of your mouth,” Arif said. “Take this bag of salt, give it to those who need it.”

“Thank you, and please, please, please take care,” we bade him.

***

Rain. THANK GOD FOR RAIN!

***

Still in Tung Shin Hospital grounds.

Tear Gas #3. WE WERE IN THE HOSPITAL GROUNDS, FOR CRYING OUT LOUD!

***

We ran helter-skelter. And we saw a wall. There was nowhere else to run, as police were chasing with their batons.

1 Malaysia #3. An elderly Chinese uncle stood by the wall.

“Uncle, go first.. go first,” I told him.

“No, no... after you!” And he helped me over the wall. And on the other side of the wall, was another Malay uncle... standing and giving a hand to all of us who were running.

We continued running.

1 Malaysia #4. I came to another wall. This time, this wall had a metal fence. With sharp pointers.

I climbed up the wall. And looked down. There was no way I was going to make it down there unscathed.

A young Malay chap climbed up to where I was. Lifted me, and lowered me down the other side.. his stomach pressing against the sharp metal pointers as he was doing so.

“Are you okay?” I turned back and asked.

“Yes, just run,” was his reply.

***

After having survived three rounds of tear gas... we were still dissatisfied.

This rally is not over!

We heard chants from afar, and decided we would join our fellow comrades in the march to Stadium Merdeka.

***

1 Malaysia #5. As we were heading towards the crowd, we saw three Chinese aunties.

They warned us against heading in that direction, because they just saw the FRUs and the police beating people up with batons.

“Thank you for coming, auntie. For doing this for our generation,” I said.

She looked at me with bewilderment. Took off her hat, and said to me, “Why do you thank me? My father didn’t do this for me. Now I will do it for my children. For my grandchildren. I will march in every state every week — until I see change happen.”

***

We found the crowd. And marched on to KLCC.

“Rasa sayang, hey! Rasa sayang sayang hey! Hey...” was what we heard the crowd singing.

***

We arrived in KLCC. Sat. Made a few more friends.

And ran. Because the police were after us again.

As we ran for our lives, I saw two other people in front of me.

In running, they hit and toppled the barricades that were around KLCC. And to my utter amazement, they stopped, picked up the barricades, arranged it to be how it was like before, and continued running.

***

9th of July, 2011.

I am proud.

Proud to have friends — students and white-collared workers, who would risk being detained and being treated inhumanely to stand for what is right.

Proud to have Malaysian brothers and sisters — this is my pledge. That this will be the last time I refer to anybody by race. Because of the kindness you showed me and my friends today, you showed me that we are CAPABLE, of being COLOUR BLIND.

Proud of the way we behaved during the rally. We were not violent. We were courteous. We helped each other. We pushed on despite being treated like dogs because we kept in mind -- the next generation that is to come after us.

Proud that we showed kindness instead of retaliating when we were provoked.

Proud that now, nobody can call us Third World — because we did not react the way the Middle East did.

And most of all, I am proud — so proud, that WE DID NOT SUCCUMB TO THE TACTICS THAT SOUGHT TO INSTILL FEAR IN US. THAT WE CHOSE TO RISE ABOVE THE FEAR WE HAVE BEEN SO BOUND BY.

***

Negaraku, tanah tumpahnya darahku.

9th July 2011. The day I am so proud of my fellow Malaysian friends.

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Jawatankuasa pemandu BERSIH 2.0 mencadangkan rakyat berpakaian kuning setiap Sabtu sebagai sokongan berterusan kepada pergerakan itu yang menuntut lapan perkara bagi pembaharuan pilihan raya di negara ini.

Ketua BERSIH 2.0 Datuk S Ambiga meminta rakyat memakai apa-apa yang kuning pada setiap Sabtu sebagai menunjukkan sokongan mereka kepada tuntutan 62 NGO gabungannya itu.

"Sehingga reform seumpama itu dibuat, kita minta rakyat memakai apa sahaja yang kuning pada setiap Sabtu. Tidak kira sama ada baju, sarung tangan atau apa-apa sahaja...,” katanya pada sidang akhbar di Kuala Lumpur hari ini.


Ambiga berkata walaupun perhimpunan Sabtu lalu mendapat sambutan luar biasa rakyat, tetapi tugasnya membuat lapan tuntutan bagi sistem pilihan raya bersih dan adil di negara ini masih belum selesai.

Sehubungan itu, katanya BERSIH 2.0 mendesak supaya Suruhanjaya Siasatan Diraja ditubuhkan segera bagi meneliti secara keseluruhan sistem pilihan raya di negara ini.

"Kami percaya langkah terbaik untuk terus maju ke hadapan adalah dengan menubuhkan Suruhanjaya Siasatan Diraja di mana ahli-ahlinya dipilih dan diterima rakyat," katanya.

Ambiga berkata suruhanjaya itu seharusnya dianggotai oleh mereka yang mendapat kepercayaan rakyat.

Suruhanjaya Diraja

"Usaha BERSIH 2.0 tetap diteruskan, kami percaya langkah terbaik untuk terus maju adalah dengan menubuhkan Suruhanjaya Siasatan Diraja, yang mana ahli-ahlinya dipilih dan diterima oleh rakyat.

"Apa yang penting suruhanjaya ini perlu ditubuhkan sebelum berlangsungnya Pilihan Raya Umum ke-13," katanya.

Beliau juga kesal dengan tindakan polis yang secara terus-menerus membuat gangguan terhadap mereka yang menyokong BERSIH 2.0 atas alasan ia sebuah organisasi haram.

Semalam, beberapa orang di Johor Bharu dan Sandakan telah ditangkap kerana memakai baju kuning berlogo BERSIH.

Ambiga menyatakan BERSIH kini meminta campur tangan mahkamah bagi mencabar arahan Menteri Dalam Negeri itu.

"Mereka melakukan tangkapan atas arahan KDN kerana mendakwa kami tidak sah. Oleh itu kami failkan permohonan di mahkamah untuk cabar arahan menteri," katanya

hkok: Let us all remember the brutality that Teoh Beng Hock went through, but most of all, his courage never to yield. For if Teoh Beng Hock by himself, on that floor, in that building, at that time, have the courage to withstand the brutal forces of repression, surely all of us must summon our courage to eliminate the forces of repression from the face of Malaysia.

Surely it is our duty to do the right thing - vote the BN out of Putrajaya, take control of the police and MACC (Malaysian Anti-Corruption Commission), institute and inspire an independent judiciary, and finally, obtain justice for Teoh Beng Hock and thousands of others who are victims of the repressive BN regime.

Dappy: Lee Lan (Teoh's younger sister), your impassioned plea for the people's support to be together in the fight for justice for Beng Hock brought tears to our eyes and pain in our hearts. TBH has not died in vain, he shall always be our hero and forever remembered for his bravery and sacrifice.


more on Teoh at wiki