Virus COVID-19

Tiada siapa yang menyangka bahawa dalam era di mana dunia sedang mengecapi perkembangan sains dan teknologi yang begitu canggih, terdapat sejenis virus yang diberi nama COVID-19 telah menyebabkan jutaan manusia terkorban dan ratusan juta telah dijangkiti. Ironinya, Amerika Syarikat sebagai negara paling maju, menjadi negara yang paling tinggi jumlah jangkitan dan turut menjadi negara paling tinggi dengan jumlah kematian akibat jangkitan virus COVID-19. Begitu juga dengan negara-negara maju di eropah seperti Britain, Perancis, Jerman, Itali dan Sepanyol turut tersenarai sebagai negara yang mempunyai jumlah jangkitan dan kematian yang tinggi. Setelah lebih setahun virus COVID-19 mula dikesan, masih belum ada petunjuk yang jelas bahawa virus COVID-19 dapat dihentikan sepenuhnya meskipun vaksin telah berjaya dihasilkan oleh beberapa buah negara. 

Ternyata virus COVID-19 telah memberikan impak yang sangat besar terhadap kehidupan manusia, impak yang tidak pernah terbayang akan berlaku. Tiada siapa yang menyangka, hanya kerana dengan sejenis virus, jutaan manusia terpaksa dikurung di rumah masing-masing selama berhari-hari bahkan ada yang sampai berbulan-bulan. Hanya kerana sejenis virus, ekonomi negara di seluruh dunia hampir lumpuh, ribuan perniagaan telah gulung tikar, jutaan manusia hilang pekerjaan dan sumber pendapatan. Hanya kerana sejenis virus, rutin kehidupan manusia berubah dengan sangat drastik, seperti tiada lagi kehidupan sosial. Hanya kerana sejenis virus, manusia hidup dalam penantian dengan persoalan apakah masih ada harapan pada hari esok. 

Impak pandemik COVID-19 yang sangat besar telah menyebabkan dunia seolah-olah berhenti berputar, kehidupan manusia menjadi suram dan hingar-bingar dunia menjadi sepi. Setiap hari kita dihidangkan dengan berita-berita yang menakutkan seperti kadar kematian semakin meningkat, ekonomi dunia merudum, semakin ramai yang hilang pekerjaan, sistem kesihatan hampir lumpuh, semakin ramai menghadapi masalah kesihatan mental dan banyak lagi. Pada awal penularan, negara-negara maju seperti terkedu dan tidak pasti bagaimana untuk memberikan reaksi terhadap virus COVID-19. Mereka seperti tidak dapat menerima hakikat bahawa kecanggihan teknologi sistem kesihatan yang mereka miliki tidak dapat menghalang virus COVID-19 daripada menimbulkan masalah kesihatan yang serius dalam negara mereka. Ditambah pula dengan rakyat mereka yang sudah sebati dengan idea kebebasan serta tahap kepercayaan pada kerajaan yang rendah menyebabkan langkah lockdown (kawalan pergerakan) yang di laksanakan oleh kerajaan mereka tidak dipatuhi dengan baik. Ini menyebabkan virus COVID-19 turut tersebar dengan sangat pantas dan tidak terkawal di negara-negara maju seperti Amerika Syarikat dan Eropah.

Jepun sebuah lagi negara yang sangat maju dengan perkembangan sains dan teknologi juga sedang bergelut untuk membebaskan negara mereka daripada virus COVID-19. Sangat terdesak dengan tekanan sebagai tuan rumah sukan Olimpik Tokyo 2020 (telah ditangguh ke Julai  2021), kerajaan Jepun telah berusaha semaksima yang boleh untuk merelisasikan penganjuran sukan Olimpik Tokyo. Mana tidaknya RM83 bilion telah dilaburkan untuk persiapan penganjuran sukan tersebut. Namun,  peperangan menentang virus COVID-19 di bumi Ultraman masih belum ada tanda-tanda akan reda sepenuhnya dalam masa terdekat ini walaupun komitmen yang sangat tinggi telah dicurahkan oleh kerajaan Jepun.

Di sebalik apa yang berlaku kesan daripada virus COVID-19, menunjukkan keterbatasan dan kelemahan yang ada pada diri manusia. Sejauh mana kehebatan teknologi yang berjaya dihasilkan oleh manusia, hakikatnya ia jauh terlalu kecil jika ingin di bandingkan dengan  alam semesta yang dicipta oleh Allah SWT, bahkan manusia itu sendiri adalah ciptaan Allah SWT. Tetapi manusia sering menjadi sombong dan alpa dengan apa jua kelebihan yang dimilikinya, seoalah-olah dapat mengawal dan menentukan segala-galanya. Pandemik COVID-19, memperlihatkan kekayaan yang dimiliki oleh manusia boleh hilang dengan sekelip mata sahaja, hanya kerana sejenis virus. Begitu juga dengan kegembiraan dan keseronokan yang dikecapi dengan bermacam-mana aktiviti sosial, hiburan dan sebagainya, boleh terhenti secara tiba-tiba tanpa diduga.

Begitulah juga dengan hidup manusia, setiap yang bernyawa pasti akan mati, kematian datang tanpa diduga kerana ianya diluar dari kawalan manusia. Apabila ianya tiba, maka segala-gala yang dinikmati di dunia ini akan terhenti selama-lamanya, tidak ada jalan pulang atau peluang untuk kali kedua. Oleh itu, selain daripada perlu berikhtiar bersungguh-sungguh menangani pandemik COVID-19 agar kehidupan kembali normal seperti sedia kala, manusia harus sedar bahawa terdapat banyak perkara dalam kehidupan ini yang jelas menunjukkan manusia adalah makhluk yang lemah dan terbatas sifatnya. Hanya dengan sejenis virus, kehidupan manusia menjadi tidak tentu arah. Adakah manusia yang lemah dan terbatas sifatnya  layak untuk menghasilkan sistem kehidupan yang baik? Sudah tentu tidak. Sedarkah kita bahawa sistem demokrasi, kapatalis yang berasaskan kepada akidah sekular merupakan sistem kehidupan ciptaan manusia? 

Belenggu pemikiran barat bukan sahaja telah menyebabkan umat Islam memilih untuk diatur dengan sistem kehidupan ciptaan manusia. Tetapi, turut merasakan bahawa Islam tidak menunjukkan secara khusus dan terperinci sistem untuk mengatur kehidupan manusia sehingga berpandangan bahawa tidak salah untuk memilih apa jua sistem yang ada seperti sistem demokrasi dan sistem kapitalis. Jauh lebih parah, ada merasakan bahawa sistem Islam yang di amalkan oleh Rasulullah SAW dan para Khalifah sesudah baginda sudah tidak relevan untuk diamalkan ketika ini. Tidakkah mereka sedar bahawa Islam adalah agama yang diturunkan oleh Allah lengkap dengan sistem kehidupannya sekali. Hanya dengan sejenis virus sahaja, kehidupan di seluruh  manusia sudah seperti tidak keruan, sangat bongkak dan tidak sedar diri jika merasakan manusia layak untuk menghasilkan sistem kehidupan yang lebih baik daripada sistem kehidupan yang diturunkan Allah SWT.

Anda Mungkin Meminati

1. The influence of global economy on the path of Malaysian economic recovery

2. Campur Tangan Amerika Syarikat Dan Kuasa-kuasa Barat Ke atas Negara Umat Islam

The influence of global economy on the path of Malaysian economic recovery

Even though Malaysia seems to be on the right track in combating COVID-19 pandemic, but the situation globally largely heading towards a different direction. The Malaysian government had put high commitment to curb COVID-19 pandemic by implementing several stages of movement control order (MCO). As a result, the curve of new COVID-19 cases was successfully flattened over a period of time. After the implementation of MCO over the period of three months, in which has inevitably harmed the economy,  it was estimated that Malaysia lost 2.4 billion ringgit each day due to the restriction imposed under MCO.  

In order to recover from the damages caused by the COVID-19, Malaysian government has implemented the Recovery Movement Control Order (RMCO) from June 10th to August 31^st, 2020. Recovery is the fourth stage under the ‘6R approach’ employed by the Malaysia government to contain COVID-19. To achieve the objective of the recovery stage, Malaysia has issued economic stimulus package, known as  the “Pelan Jana Semula Ekonomi Negara” (PENJANA), which primarily aimed at helping businesses to recover from the negative impact of the COVID-19 pandemic. This recovery stage is critical and crucial to determine the success of the government’s efforts  in managing the impact of COVID-19 pandemic to the country.

Apart from political stability, the economic condition in other countries is also important in determining the success of PENJANA towards achieving economic recovery in this country. This is based on the fact that Malaysia is practicing open economy, which is very much influenced by the global economic environment. Malaysian economy cannot survive without export and import activities, foreign direct investments (FDI), tourism and other sectors that are related to international trading. Therefore, the stability and the success of the other countries in containing COVID19 pandemic is very important towards economic recovery in Malaysia.    

It is evident that the global trend of new COVID-19 cases is still increasing. Some countries like the United States of America, Brazil and India, the total number of cases was reported to reach more than 1 million cases among their citizens and in total, more than 500 thousand fatalities were reported globally. This situation rendered all countries in the world to face difficulties the efforts towards economic recovery. Therefore the global economy will continue to slowdown and resulted in an unhealthy economic environment. 

 

As such, how can Malaysia be able to recover its economy? Malaysian economy is very much dependent on international trading. The electrical and electronics (E&E) industry, for example, is a key driver of Malaysia's industrial development and contributes significantly to growth of GDP  export earnings, investment, and employment. The sustainability of this industry is very much dependent on the demand from other countries such as China, US, Singapore, Hong Kong, and Japan. This scenario is similar to the palm oil industry. Being one of the largest producers of palm oil in the world, Malaysia’s revenue from palm oil is very dependent on the export. China and India, both being the main exporters, are struggling to contain COVID-19 pandemic. As the result, the economic growth in their country is not encouraging them to create domestic demand, including demand on the products from the palm oil industry.

In addition, the temperature of confrontation between the United States and China which is increasing lately, has resulted in a more challenging and unstable global economic environment. The confrontation between these two largest economy in the world will put Malaysia’s economy under pressure because Malaysia needs both countries to stimulate its economy. Malaysian economy will be in trouble if Malaysia breaks its trading with any one of these two countries. Therefore, Malaysia needs to maintain its good relationship between both the United States and China. This situation will create more uncertainty to the Malaysian international trade, especially with the United States and China. This will eventually cause negative impact to the Malaysian economy in general.

As the conclusion, since the design of Malaysia economy inherited from British colonization days is very dependent on the export of its commodity and primary products for manufacturing sector, therefore the resilience of Malaysian economy is significantly influenced by the global economy.  It is very hard for Malaysia to recover economically despite having good domestic recovery plan and successfully implemented it. This is because Malaysia cannot control the external factors that influence the global economy.

One of the solutions to create a resilient Malaysian economy and not very much influenced by the external factors is by creating strong domestic demands and increasing its capability to develop new technology to produce end products. However, under current world order which is largely shaped by free market in capitalism and nation states which has divided the Ummah into small and dependent states, the Ummah are incapable to tap into their full potentials. Therefore, apart from employing economic approaches, there is an urgent need for a systemic change which requires political will to unite the ummah under a new leadership towards creating a new world order based on the Islamic aqidah and the systems that emanate from it.

 

 

Challenges in Reviving the Malaysian Economy from the Impact of COVID19

The main challenge for the current Perikatan Nasional (PN) government to implement the plan of reviving the economy due to the impact of COVID19 is political stability. Since the current Prime Minister Tan Sri Muhiyidin Yassin took the job in March, he has yet to prove his government’s majority in Parliament. The question of whether he has enough majority support from the Members of Parliament (MP) is still not answered yet. That question can only be answered if the Parliament meeting is able to be held as normal. Based on the fact that full parliament meeting will allow the opposition party to propose non-confident vote against Tan Sri Muhiyidin Yassin in the Lower House of Parliament. One cannot be imagine, how Perikatan Nasional will be able to handle the impact of COVID19 towards the Malaysian economy without holding a strong position as the government.

The impact to the economy caused by COVID19 is more serious compared to the Asian Financial Crisis in 1997/98. During the Asian Financial Crisis, the government lead by Dato Seri Dr Mahathir was a stable government with 2/3 majority in Parliament, even though was faced pressure from the Reformasi movement. In that position, Dr Mahathir was able to be more focused to find a solution to resolve economic impact of the Asian Financial Crisis. All the economic plans were successfully able to achieve the goals recovering the economy due to the political stability. Logically, since the impact of COVID19 is worse compared to the Asian Financial Crisis in 1997/98, a stronger government is needed to carry the responsibility in facing the impact of COVID19 towards the Malaysian economy.

Therefore, forming a strong government is very crucial for Tan Sri Muhiyidin Yassin in order to execute Perikatan Nasional’s planning to revive the Malaysian economy post COVID19 outbreak. Based on the experience of the Financial Crisis in 1997/98, without a strong government, the Malaysian economy will not be able to revive from the impact of COVID19 outbreak. The 6R (Resolve, Resilient, Restart, Recovery, Revitalize and Reform) economic recovery plan strategy introduced by Tan Sri Muhiyidin Yassin’s team to revive the Malaysian economy is currently at the recovery stage. The successfulness of the implementation of the first 3R (Resolve, Resilient and Restart) is now being tested in the recovery stage, whether all the business and industries are able to recover or not will be known at this stage.

As we have witnessed, Tan Sri Muhiyidin Yassin’s team has been working very hard and show their capability in handling the COVID19 outbreak through the implementation of Movement Control Order (MCO) and introduced several economic stimulus packages. But the continuity’s of his team planning is very much depending on their political stability as a government. A lot of hard work and cost was spent on the war against COVID19 outbreak by Tan Sri Muhiyidin Yassin team. Now their planning at the stage recovery to see whether the first 3R was success successful or not will be ensure at this staged. Recovery stage is crucial and needs a lot of effort’s as well as focus to make sure it can be execute as being planned. But, Tan Sri Muhiyidin Yassin government is currently facing tough pressure from the opposition party. Opposition party which now known as Pakatan Plus seem very active in doing the political manoeuvre to topple the current government. However, in Pakatan Plus are also having their internal problem to name the Prime Minister candidate, either Tun Mahadir or Dato Sri Anwar Ibrahim. 

Even though Tun Mahathir only has a small team from Bersatu with him in Pakatan Plus, but he still has a powerful influence to challenge Datuk Seri Anwar Ibrahim as the Prime Minister candidate. This is indeed a strange situation whereby PKR is the dominant party but Tun Mahathir with an only a small team is able to influence the decision of Pakatan Plus to make him as Pakatan Plus’s Prime Minister candidate. Some PKR leaders and supporters are dissatisfied with that situation and they insisted that PKR’s way forward is never to let PKR and Datuk Seri Anwar Ibrahim “be taken for a ride ever again”. Datuk Seri Anwar Ibrahim seems not only not get firm support from his old friends from DAP and Amanah to be Prime Minister candidate but that is also get pressure from inside his party from ‘Azmin’s people'. With the principle of democracy, we can see a lot of new fractional political parties being established, which made a lot of negotiation and compromise needed to form a coalition, fragile coalition.

All this political scenario indicate that political stability in Malaysia far to achieve. It also shows that the struggle to gaining power among politicians will always continue nor matter in what the situation is. Everyone calls for united in their definition, when are they in power, they define united as working together with them and stop going against them. When they are not in power, they define united as a struggle to build a better country and topple the corrupt government. Then, there is no ending going against each other and unity remain a fantasy. Therefore, there is no hope that we are able to have a better life under capitalism and democracy. The tough life we face now will continue and will sure became tougher if our lives are still managed by the same system.

That is the design of the political system of democracy used in our country today. Day by day it shows its weaknesses and limitations. The main problem is the system itself. Democracy is a system designed by human, of courses, it is full of weaknesses and limitations. The best system to manage human life must be from Allah and the system is Khilafah.         

Targeting the Root Cause: Stopping Alcoholic Beverage Industry - The Way Forward!

Despite having Muslims as the majority of the population in this country, which based on their belief, does not consume alcoholic beverage; it can be sold and consumed in large scale in this country because it’s allowed according to the law. The law implemented in a country will determine which goods and services can be sold and consumed, which one is not.

The reason for such unfortunate reality can be traced back to the inception of this country, when the supreme law of Malaysia, Federal Constitution was established by the Reid Commission headed by Lord William Reid. Even though some might argue that during the establishment of the Federal Constitution, the commission opened for recommendations from many parties including Muslim scholars,but we must bear in mind that it is up to the commission to decide whether to include any of these recommendations from the Muslim scholars in the constitution. This indicates that the establishment of the Federal Constitution is based on the framework of the Reid Commission, not based on Islamic one.

Therefore, the decision whether or not any economic goods such as alcoholic beverage or pork can be processed at the industrial scale, then sold and consumed openly is based on the law under Federal Constitution. This is the fundamental knowledge that people need to understand beyond the issue deaths in road accidents caused by drunk driver.

Since the alcoholic beverage industry is legal in this country, then the trading, as well as the consumption of alcohol is allowed to expand like other industries as long as they comply to all related legal provisions. In addition, some might justify that alcohol has also contributed significantly to the Malaysian economy in terms of creating jobs and tax revenue to the government, particularly in tourism industry among others. 

  

Like other industries, it is the government’s responsibility to make sure they comply to the rules and regulations. As long as the industries comply to the law, then they are encouraged to expand so that they can contribute back to the economy. The same thing applied to the alcoholic beverage industry. This is evident when Malaysia, being a renowned Muslim country, but it has been named by the World Health Organisation (WHO) as the world’s 10th largest consumer of alcohol despite its small population and size.

The deaths of innocent people because of drunk drivers is seen as a separate issue from the issue of alcohol beverage industry. That’s why we can see that the government’s approach in handling the issue of fatal accident caused by drunk drivers only focuses on the law related to Road Transport Act in addition to campaigns to create awareness on the danger of alcohol abuse, not on the law about the alcoholic beverage industry as a whole, let alone to stop the industry. Strengthening the Road Transport Act may or may not be successful in reducing the incidence of fatal accident caused by the drunk drivers, yet it may not definitely solve the issue pertaining to alcohol consumption as it does address the problems arising from the alcoholic beverage industry. This also applies to the government approach to the issue of domestic violence caused by drunken husband, as the government will focus on finding the solution for the domestic violence instead of addressing the root cause i.e. the alcohol industry as a whole. This is the fact that we need to realize and understand.

Whether we like it or not, we have to admit that the alcoholic beverage industry is allowed and legal in this country, just like the licensed gambling industry. These two sectors were thriving at industrial scale and contribute significantly to the Malaysian economy.

From the secular and capitalistic point of view, there is no reason for the government to shut these two sectors, in fact such move is seen as counterproductive especially during this challenging times as we are facing economic uncertainties following the Covid-19 pandemic.  

Those with higher moral compass, sincere faith, and strong religious awareness who call for closure of the alcoholic beverage industry and restriction of large-scale import face strong opposition particularly from various stakeholders from the industry. Even the Law Minister who hails from political party leaning towards Islam took the path away from tackling the root cause, focusing instead towards ‘symptomatic’ measures similar to the plan that has been outlined by the previous PH government.

Moreover, even though it seems that it is possible to implement definitive solution, but in reality, it is almost impossible to do so, as the supreme law in this country permits the growth of the industry. The same applies to the implementation of hudud in this country. Although it looks like there is glimmer of hope for it to be implemented, but after long polemic and people has gained more understanding about the Federal Constitution, now even the strongest proponent of implementation of hudud via constitutional means has reluctantly realize that it is almost impossible to achieve under Federal Constitution.

In Islam, the policy about alcoholic beverage industry is very clear, that any prohibited good and services such as alcohol, pork, gambling, prostitution and all sorts of haram activities are not considered as economic goods. Therefore, it cannot be manufactured and sold like other economic goods. In other words, according to Islamic rule, no alcoholic beverage industry would be allowed to exist in an Islamic state.  Alcoholic beverage (khamr) is forbidden under ten circumstances, not only for consumption. At-Tirmidhi reported from Anas Ibn Malik who said:

لَعَنَ رَسُولُ اللَّهِ صَلَّى اللَّهُ عَلَيْهِ وَسَلَّمَ فِي الخَمْرِ عَشَرَةً: عَاصِرَهَا، وَمُعْتَصِرَهَا، وَشَارِبَهَا، وَحَامِلَهَا، وَالمَحْمُولَةُ إِلَيْهِ، وَسَاقِيَهَا، وَبَائِعَهَا، وَآكِلَ ثَمَنِهَا، وَالمُشْتَرِي لَهَا، وَالمُشْتَرَاةُ لَهُ

“The Messenger of Allah صلى الله عليه وسلم cursed ten in relation to Khamr: its producer, the one assigned with its production, the one who drinks it, the one who transports it, the one it is transported to, the one who serves it, the one who sells it, the one who eats from its profit, its buyer, and the one for whom it is purchased”.

Non-Muslims (Kafir zimmi), on the other hand, are only allowed to consume alcohol in their personal place, and alcoholic beverages are also not allowed to be sold openly to the public. Any activities that involves alcohol consumption  openly are also not allowed in Islam.

As a conclusion, even though the number of cases of deaths of innocent people in accident caused by drunk drivers is increasing, it is impossible to stop the alcoholic beverage industry in this country within the framework of this system, because the existence of such industry is allowed by the constitution. Actions to stop the alcoholic beverage industry means against the constitution and would be challenged by the industry players as it is their right which was protected by the constitution.

The only viable measure that the government can do in handling this issue is to enact the related laws to prevent drunker from driving, no more than that, because main issue not the alcohol industry as a whole but the act of driving under the influence of alcohol. Therefore, the alcoholic beverage industry can only be stopped if the country is ruled based on Al-Quran and Sunnah. The country is none other than the  Khilafah state. Therefore the definitive solution to stop the alcoholic beverage industry which is the root cause that resulted in the widespread negative impacts of alcohol consumptions in our country is through reestablishement of Khilafah state according to the method that was shown by Rasulullah (saw).   

     

Building a Resilient Economy

One of the main factors in the global economy, including Malaysian economy, that causes it to face uncertainty and not resilient is due to the existence of virtual economy/paper economy/financial economy. Virtual economy has a very strong relationship with the financial market that allows the economy to appear much larger than its real size.

This scenario is contributed by many factors, including the existence of capital market that allows virtual economy to grow much bigger than the real economy. Transaction within capital market that moves rapidly as compared to the activities in real economy has resulted in the wealth generated by the capital market to become bigger than those generated by the real economy. Moreover, the capital market can also be used as the basis to produce another financial instrument, namely the derivatives, to generate more wealth. 

As a result, the size of the economy appears bigger, even though there is no growth in real economic activity.  This phenomenon would eventually lead to financial crisis that causes negative impact to the economy, when the financial market collapses. The collapse of the financial market is a ‘natural’ scenario that would inevitably occur in the capitalist economic cycle, when the resulting ‘bubble’ economy systemically expand and finally ‘burst’. Consequently, that burst would eventually leads to financial crisis.

The virtual economy is also encouraged by the printed money system, which allows money to be printed without being backed up with valuable commodities such as gold and silver. This allows money to be printed simply based on confidence (fiat money). Since the money that we use today is backed up with nothing, it is also possible for the money to grow more rapidly at higher rates than the growth of the economy. The currency system today is not only weak but also allows the currency traders to gain profit out of thin air to the extent that they could result in the economic collapse like the 1997/98 Asian financial crisis.

Besides that, the development of the virtual economy is also driven by generating credit based on interest (riba) by the financial industry such as banks. This scenario occurred when money generated in the form of credit and interest through the banking system using method known as fractional reserve banking. This allows money in the form of credit to be circulated in the economic cycle more than the real value of money.

All in all, the size of virtual economy, which is an important method in capitalism system to stimulate the economy, became bigger than the size of the real economy. This phenomenon caused the current economy to be prone to the economy problems such as inflation and recession, because both problems are the eventual consequences of economic activities in capitalism. In other words, inflation and recession are natural part of the capitalism that cannot be separated from the system. 

The current situation of the capitalist system can be likened to a person who has a variety of diseases and very much dependent on medicine to survive. In the year 1997/98, he was diagnosed with diabetes, which required him to take diabetic medicine. After that, in the year 2008 he developed high blood pressure and hypercholesterolemia, and by the year 2020 developed kidney problem over the course of the disease and as the complications of too much dependence on medicine to survive. Consequently, instead of continuing taking medication, the commitment is increasing due to the need for regular dialysis. 

  

Even though the capitalist economy may still survive with medication and undergoing treatments that require high commitment in terms of time, energy and money, but the truth is the body’s vitality has been much reduced, and the ability to do work is not like before. These conditions render the body susceptible to infections such as COVID-19 which can be fatal.Therefore, as long as capitalism that is inseparable from the virtual economy being embraced as the system to manage and expand the economy, there will be no hope for the economic problems to be solved and eventually bring the true wellbeing to humankind. The economic problems may appear to be successfully solved through all sorts of economic stimuli packages, yet the truth is that they were just the medicine to make the body to barely survive while depending on them while at the same time, the body system has already weakened.

In conclusion, to develop resilience and a competitive economy, the virtual economy must be abolished. The true resilient and competitive economy is an economy that grows only in real economic activities, with no virtual economy. Capitalism cannot survive without the virtual economy. In contrast, the Islamic economic system strictly prohibits any activities or transaction related to the virtual economy. Prohibition of the virtual economy in Islam takes place through several rulings pertaining to economic activities. First, any mu’amalah that does not follow principles and rulings on Islamic syrikah is prohibited. Second, Islamic Sharia decreed that the currency must be backed up with gold and silver. Third, riba is prohibited. To successfully implement these three policies, the government that rule solely based on the Al-Quran and As-Sunnah, namely Khilafah System is needed. This is pertinent as the implementation of economic policies requires political will to ensure sustainability and sound structure to support them.