By Dr. Ashurov Sharofiddin, Dr Mohd Zaidi Md Zabri
Malaysia stands at a critical juncture, where decisions made today will shape the nation’s future for decades to come. At a time when the global economy is increasingly volatile, Malaysia’s GDP growth of 5.9% in the second quarter of 2024 reflects resilience.
Notwithstanding, according to the Department of Statistics Malaysia, with the Gini coefficient at 0.404 and an absolute poverty rate of 6.2% in 2022, it is clear that while the economy has grown, not all Malaysians have equally shared in its benefits. Addressing these disparities requires a holistic approach to development, one that goes beyond mere economic indicators.
The Madani Framework, introduced by Prime Minister Dato’ Seri Anwar Ibrahim, aims to provide a balanced path forward, integrating economic growth with social equity, environmental sustainability, and spiritual well-being. Rooted in the concept of “Madinah,” which represents an ideal Muslim society, the Madani Framework offers a universal model of governance relevant to Malaysia’s multicultural society.
Central to this framework is the principles of Maqasid Shariah, advocating for the protection of essential human interests: religion, life, intellect, lineage, and wealth.
Economic Potential: A Vision for Inclusive Growth
The Madani Framework recognizes that GDP growth alone is not enough to measure national well-being. It promotes policies that ensure economic growth translate into tangible benefits for all citizens, particularly those historically marginalized.
By advocating for targeted poverty alleviation programs that focus on education, skill development, and entrepreneurship, the framework seeks to empower individuals and reduce long-term dependency on welfare. Moreover, the framework emphasizes reducing income inequality.
The framework promotes fair wages, and improved access to quality education and healthcare, and supports small and medium enterprises (SMEs), which are the backbone of Malaysia’s economy. In addition to these domestic policies, the Madani Framework envisions Malaysia playing a more active role in the global economy, aligning with trends toward sustainability and responsible economic practices.
This approach aims to attract international investments that are both profitable and socially responsible, fostering an economy that is inclusive and sustainable for present and future generations alike.
Social and Environmental Prospects: Building a Cohesive and Sustainable Society
Socially, the Madani Framework aims to foster unity in Malaysia’s diverse society. By prioritizing justice, compassion, and respect for diversity, the framework seeks to strengthen social cohesion and promote a shared national identity.
This involves ensuring access to basic services like education and healthcare for all citizens and advocating for need-based affirmative action programs. Education is a key focus of the framework’s social agenda.
It calls for reforms to ensure all Malaysians have access to quality education, including investments in early childhood education, improving rural schools, and expanding access to higher education and vocational training. By equipping individuals with the skills needed to succeed in the modern economy, the Madani Framework aims to create a more equal and empowered society.
On the environmental front, the framework’s commitment to sustainability is crucial. Malaysia faces significant environmental challenges, such as deforestation, pollution, and climate change.
The Madani Framework advocates for sustainable development practices that balance economic growth with environmental protection. This includes promoting renewable energy, reducing carbon emissions, and conserving natural resources. The framework also emphasizes stronger enforcement of environmental laws, ensuring development projects respect both the environment and local communities.
Malaysia’s ranking of 45th out of 180 countries in the 2020 Environmental Performance Index indicates room for improvement in environmental management. The Madani Framework provides a roadmap for addressing these challenges, aiming to make Malaysia a leader in sustainable development.
By prioritizing environmental stewardship, the framework ensures that Malaysia’s development is not only resilient but also respects the planet’s limits.
Conclusion: A Blueprint for the Future
The Madani Framework presents a promising vision for Malaysia’s future, addressing the complex challenges of a diverse and evolving society while upholding the values of Maqasid Shariah. Its success, however, depends on the collective commitment of all Malaysians to uphold principles of fairness, inclusivity, and respect for diversity.
By working together, Malaysians can ensure that the nation’s progress benefits everyone, creating a more cohesive and prosperous society. As Malaysia navigates its path forward, the Madani Framework offers a blueprint for a more inclusive, just, and sustainable nation, setting the stage for Malaysia to lead by example in promoting holistic well-being on a global scale.
Dr. Ashurov Sharofiddin is an Associate Professor at the IIUM Institute of Islamic Banking and Finance, International Islamic University Malaysia and Dr Mohd Zaidi Md Zabri is a Senior Lecturer at the Department of Finance, Faculty of Business and Economics, Universiti Malaya.
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