In this international seminar, the Islamic social sector becomes the center point of discussion after considering its potential to further equip the government in delivering prosperity to the society. Distinguished guests, ladies and gentlemen, 14. Zakat enables those who are considered poor and extremely poor to fulfill their basic needs.
For an inflation targeting central bank it is imperative that the Government does not systematically borrow from it to finance the budget, because this risks undermining monetary policy. Hence if Government is to support the introduction of ITL, it must be prepared to fully fund its domestic borrowing from the market, and avoid borrowing from the central bank.