Now Even the Professionals Need Crutches!
The Star
UTUSAN Malaysia reported that Malay economists, lawyers and politicians had urged the Government to uphold Maybank's introduction of ownership criteria on legal firms that wanted to serve on the bank's panel to have 50% bumiputra equity.
They said that it was in line with the government's policy for fair distribution of wealth, particularly for the bumiputra who still lagged behind economically.
They added that the Government should appreciate Maybank's initiative as it would open doors to bumiputra law firms to participate directly in the country's economic development.
Last week, Maybank's requirement for legal firms on its panel to have a bumiputra partner with at least a 50% stake sparked controversy and drew much criticism for being discriminatory and led to the Cabinet directing the bank on Wednesday to withdraw its condition.
Economist Haim Hilman Abdullah described Maybank's action as fulfilling its corporate social responsibility and said that everyone should support the voluntary move.
“In my view, firms that do not fulfil this requirement still have many opportunities to deal with other banks that do not impose such conditions,” the economist said.
Universiti Utara Malaysia economic lecturer Assoc Prof Asan Ali Gulam said the Government should encourage other banks to follow Maybank's example and not view it as being discriminatory towards other races.
Barisan Nasional Backbencher's Club acting chairman Datuk Raja Ahmad Zainuddin Raja Omar said that Maybank's policy was not meant to make Malays control the economy but to create a balance and give every race an equal opportunity.
Berita Harian also reported that the Malaysian Muslim Lawyers Association and several bumiputra legal firms supported Maybank.
For one to become a professional, one must have certain capabilities in order to qualify as one. Professionals are usually much better off than the general population. Why must they be given handouts? Isn't it embarrassing for a professional to request for handouts? Those who argue that handouts are needed must be insulting all the capable bumiputera lawyers out there.
What's next? 50% bumiputera equity for actuarial consultancies, audit firms, doctors? Or maybe bumiputera pay 50% less taxes?
What kind of signal are we sending to the globalised world? I'm truly worried about Malaysia's competitive position in light of many similar issues.
I was surprised to know that there is even such thing as Muslim Lawyers Association. Imagine having a Muslim or Christian Actuaries Society of Malaysia too.
From my minimal knowledge of Islam, the foundation of Islam is justice. Furthermore I wonder whether such way of obtaining wealth is halal?
All these are fuelled by greed. "Lagged behind" means not rich enough.
4 comments:
I really do not see anything wrong whatsover with having a Muslim Lawyer's Association, especially in Malaysia, where we have the Syariah Court which deals in matters pertaining to the Syariah (Islamic) Law. And at the end of the day, it is just an association which (correct me if i'm wrong) has no direct influence on regulations and stuff. After all, there is the Chinese Chamber of Commerce in Malaysia, and I'm sure there are other associations amongst professionals, which are aligned to the respective races and religions. Nothing peculiar or dodgy about this, as long as they do not affect the government carrying out its duties.
Again, please correct me if I'm wrong, but I understand from others that certain non-Bumiputra controlled banks in Malaysia are biased against Bumiputra companies, and make it impossible for such companies to obtain loans, etc. The only difference (and maybe Maybank's mistake) is that Maybank set their criteria in black and white, which made it open to criticism.
I do agree that there's a lot of cryonism in business regardless of race, whether inside or outside Malaysia.
Whether other banks practices discriminatory policies in Malaysia, we have no evidence thus far, even though most likely there'll be some.
As for the Muslim Lawyers Association, after my post I've given it a thought and I agree with you that I also thought that it might be meant for Syariah purpose, will need to check the facts later on.
I equally disagree with Chinese Chamber of Commerce, or seggregating schools system based on race, despite being from a vernacular school system. However, practically, I do think that there is a lot of problem to be sorted out before we can have one united school system.
However, if the Government as the leaders of the nation still practice politics based on race, etc. and there is no equality among all citizens, it is difficult to dismantle this sort of social structure. It's like a corporate governance issue. The whole company's culture will be messed up if the board and management are not setting the right direction.
I do agree it might be Maybank's fault for setting such policy openly. On the other hand there might be many other companies setting such policies discreetly. I however, an open policy will fuel many similar policies among other companies which has not already has such policies. It's quite sad to see people still openly arguing how much must be my share without competence, etc. I think this writer, Hishamuddin Rais, has been spot on on one of such examples http://www.malaysiakini.com/columns/67428
There are a lot of less fortunate people in Malaysia regardless of race. Let's help them without judging their colour and do not stereotype that all Chinese are rich, all Malays are poor etc. This same excuse has been overused and is outdated. Certain policies will only drive competitiveness backwards, making us worse off overall in the long run.
you shouldn't particularly highlight 'muslim lawyers association'. as if muslims in malaysia are only helping their 'kind'.
this will bring a bad perception from the ppl who are not malaysians, who read your blog. because when dealing with so many types of different ppl, u shud know that a proper screening should be done.
there are also private companies in malaysia who require Mandarin as part of the employment requirement. but what if i put that solely in my blog, surely i will outrage some ppl from a certain community right?
and on the poligamy thingy, some ppl might be hurt with your comments as if u were portraying islam as encouraging poligamy since its so taboo in the US for instance. There are many ppl of different backgrounds who are reading your blog since it is made publicly. I understand that u seek justice. But some ppl might see it differently.
If i put comments on the Buddhism community in my blog, then the common ppl wud question my intention and my knowledge. If I say this and that about a religion not of my own, surely I'll anger this particular group of ppl right?
when touching on races/religions related issues, it is safer to give examples from ALL of the groups. Not just one. So that particular one would not feel the heat that much. or maybe just dont touch about any of them at all.
I am happy that you are seeking the truth and learning things inside my religion. Islam. and it is most welcomed. i may not be the best candidate to sorta give you the correct verses etc, but you have to seek opinions from the knowledgable ones (ulama) and your own reading/research is not adequate at all.
I'm not asking u to stop writing. But I do hope u improve on things like giving opinions on other religions/races. Try giving ur opinion on ur religion/race as well like most bloggers do. This wud help reduce the heat.
that anon is me tak smpt login blogger account. for clarity.
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