Thursday, April 26, 2012


Keynote Address by Tan Sri Dato’ Seri Sanusi bin Junid in The Kuala Lumpur International Conference on Gold in International Trade: Strategic Positioning in Global Monetary System at Sheraton Imperial Hotel, Kuala Lumpur on 29th September, 2003

Assalaamu’alaikum Warahmatullaahi Wabarakaatuh

Chairman of the seminar,
Deputy Governor of Bank Negara Malaysia,
Secretary General of Ministry of Foreign Affairs,
Rector of International Islamic University Malaysia,
Honoured guests,
Fellow participants of the seminar,
Ladies and gentlemen.

Failure of Bretton Woods

Between August 19th and 20th, last year, at Putra World Trade Centre (PWTC), Kuala Lumpur, an international conference was held on stable and just global monetary system with the theme ‘Viability of the Islamic Dinar’ as a response to the 1997 East Asian economic and financial crisis by which Malaysia was ‘robbed’ of its economic well-being by the international currency speculators.

The gold dinar, whether Islamic or not, is propagated by the Prime Minister of Malaysia, the Honourable Dato’ Seri Dr. Mahathir bin Mohamad . It is simply a gold payment system.  This propagation is a reintroduction of the role played by gold, as money, before the United States President Richard Milhaus Nixon removed gold backing from the US dollar as there was insufficient gold belonging to the United States to back up the dollars needed to finance the Vietnam war. It was either an admission of the failure of the Bretton Woods’ system to support the us or just the arrogance of Nixon and his close advisors, in not wanting to use the system.

East Asia Economic Congress

Between the 4th and the 6th of August this year an international congress was held again at the Putra World Trade Centre where delegates from East Asian countries unanimously agree that there is a need for an East Asian fund to assist countries which are in financial or economic problems or crisis. This implies a prevailing distrust in the present economic system entrusted to the Bretton Woods institutions.

Young Muslim Leaders Conference

After that, between the 14th and 16th of September, representatives from sixty nations attended an international conference of young Muslim leaders held at the Renaissance Hotel, Kuala  Lumpur where a resolution was passed to create a world Muslim economic foundation. This again proved that there is an overall discomfort, even among the young, on the economic plight of Muslims all over the world.

The above three events were all officiated by the Prime Minister of Malaysia.

Our seminar today would have been graced by him too had he not been called to another unavoidable event sandwiched between his busy schedule overseas and the launching of the Langkawi International Maritime and Airshow

Gold in International Trade (GIT)

This seminar zeros into specifics. It is a seminar on ‘Gold in International Trade’ or GIT. With this seminar and previous seminars and conferences on related subject, our mind would have been prepared for the Organisation of Islamic Conference Summit next month.

Today we are gathered again to discuss the implementation of the gold payment system in international trade.

Historically, gold has held its value stable compared to any fiat currency. It was Roy Jastram, in his book “The Golden Constant” who showed that prices based on gold were relatively constant for 400 years.

Although at other forums we used the term ‘Islamic gold dinar’, we have excluded the words ‘Islamic’ and ‘dinar’ in the terminology for this forum, with the intention of removing the stigma and prejudice against gold. There was of course the Iraqi dinar before the fall of Saddam, although the Kuwaiti dinar is still in use. Hopefully the omission of the two words will remove the prejudice on gold, due to Western propaganda against Islam, thereby blurring their vision against a valuable commodity which can solve or minimise the world economic problems.

It must however be remembered that the word dinar is derived from the Latin word denarius which was the Roman Byzantine gold coin circulating among the Arabs during the time of the Prophet Muhammad s.a.w. It is therefore of western origin.

The dinar, equivalent to 4.25 grams of 22 carat gold (91.6 per cent gold alloy) remained the monetary unit for Muslims until the collapse of the Ottoman caliphate in 1924.

Thursday, July 29, 2010

15-12-2004 - Closing Speech at the International Conference on Poverty in the Muslim World and Communities



Assalaamu ‘alaikum Warahmatullaahi Wabarakaatuh.

Yours Excellencies,
Fellow Scholars and Experts,
Invited Guests,
Ladies and Gentlemen

Welcome to the closing ceremony of our international conference on poverty in the Muslim World and communities..

These two days have been very taxing days for all of you and I am sure you have enjoyed and benefited from the exchange of ideas over the period.

Yesterday morning, during the opening ceremony, the Second Minister of Finance read the speech of the Hon. Prime Minister in which he said that Malaysia has reduced the number of poor people in the country from more than 50 percent to about 5 percent during a period of 30 years. That means from 1974 to 2004.

Being an elected representative of the ruling party, from 1974 to 2004, I can claim to have been a close observer of this development, and probably a minor participant, in the various programs for eradicating poverty.


If you ask me to elaborate on a single idea, in the poor rural and agriculture sectors, that leads to the reduction of poverty, it is the paradigm shift from a product oriented agriculture to a people oriented agriculture.


Government officials often talk of growth in the agricultural sectors.

This growth implies:

- an increase in rice production
- an increase in the tonnage of fishes caught
- an increase in rubber production
- an increase in oil palm production
- an increase in fruits and vegetables production
- an increase in pepper production
- an increase in the production of meat such as mutton, chicken and beef,
- an increase in flowers production

In the non-agricultural rural sector one talks of

- an increase in textile production
- an increase in handicrafts production

Rice, fishes, rubber, palm oil, fruits, vegetables, spices, meat, flowers, textiles and handicrafts are all products.

But an increase in the production of all these products does not necessarily mean that we are alleviating poverty. There might be less employment but higher income for fewer people involved and it is far from sorting out the problems of poverty.


As such we shifted from product oriented agriculture to people oriented agriculture.

We were then interested in

- the fishermen and not just the fishes
- the rice growers or the padi planters and not the rice or padi harvested
- the rubber tapers and not the tonnage of rubber
- the oil palm plantation workers and not the production of palm oil
- the farmers and not the vegetables, fruits, flowers, and pepper harvested
- the breeders and not the meat produces
- the workers and not the textiles and handicrafts produced

Tuesday, July 27, 2010




Assalaamu’alaikum warahmatullaahi wabarakaatuh.

Brother Chairman,
Yang Arif Dato’ Abdul Hamid bin Haji Mohamad,
Federal Court Judge and Datin,
Yang Arif Dato’ Gopal Sri Ram,
Court of Appeal Judge,
Yang Arif Dato’ Haji Abdul Malik Ishak,
High Court Judge dan Datin,
Yang Arif Dato’ T. Selvathiranathan,
High Court Judge and Datin,
Yang Berbahagia Haji Khutubul Zaman Bukhari,
President Bar Council Malaysia and wife,
Associate Professor Dr. Nik Ahmad Kamal Nik Mohamad, Dean, Ahmad Ibrahim Kulliah of Laws (AIKOL),
Dr. Haji Azmi Hj. Harun, Director Law Center and Program Advisor,
Dr. Mahamad Ariffin, Deputy Dean, Academic Affairs
Brother Mohamad Khairil Abidin, Director of the Program,
Members of the Academic and Administrative Staff of the University,
Invited Guests,
Potential Graduates, Ladies and Gentlemen.


I have always looked forward to this LAW GRADUATES DINNER.

Not because it is free, but because it gives me a chance to congratulate all of you, in advance, before my convocation speech, for your future success in graduating from our great university.

If only you know how much is this university held in esteem, by delegates to the 10th conference of the OIC, you will understand the feeling of our many staff who are involved in making the OIC conference a success, of wanting the delegates to ask them as to where they come from.

While in the past people in Gombak would stress on their address being in Kuala Lumpur, Kuala Lumpur resident of Gombak would only be too pleased now, to say that their neighbor is IIUM.


You will be products of IIUM. While at the moment you can be proud of being from this university, we hope that when you leave the university it can be proud of you, and the university will become more famous because of you.


Whether you become practicing lawyers or using your legal knowledge and discipline, in executive positions, in the private or public sector, you must uphold the independence of the judiciary.

Thursday, July 22, 2010




Mr. Chairman,
The Rector,
Members of the Academic and Administrative Staff,
Members of the Organising Committee,
Brothers and Sisters in Islam.


First of all I would like to congratulate members of the organising committees for their hard work to make a success of the Legal Fiesta and the Economic Forum.

It is enlightening to see the themes for the occasion. Millef 2001 for example is focusing on the 3 PROS, or on being “ Progressive …….. Professional ………… and Pro Active. “

In this season of student bashing and the stress on meritocracy, it is refreshing to see that IIUM students are looking forward towards becoming pro-active and progressive professionals.

Let us hope that the stress on meritocracy, for us, is just a confirmation of what IIUM has always stood for.

I was informed that this could be the last event for final year students of both faculties. If that is so I would like to touch on a few of my recent and past experiences in order that you too will always reflect on your past experiences in your effort to build a better tomorrow for yourself, your family, your people, the nation and the ummah.


When I was appointed as the President of this University by His Highness the Constitutional Head,  The Sultan of Pahang, I received a delegation from the administration saying that a few academics have questioned the legality of my appointment, as the University Constitution stipulated that such appointment can only be made in consultation with the representatives of Muslim nations who sit on the Majlis.

The dispute here is in the word consultation.

This word is also used for the Prime Minister, Menteri Besar or The Chief Minister who appoint their ministers and executive council members in consultation with the King, The Sultan or the Governor respectively.

When a King, Sultan or Governor attempt to reject the list of appointees proposed by the Prime Minister, The Menteri Besar or the Chief Minister respectively, a constitutional crisis is said to arise.

The confusion is always in the methodology and timing of consultation.

In our case there was no crisis as the Sultan agreed to sign another letter dated a month later, after consultation with representatives of other nations.

Whichever consultation method was used is unknown to me although I often wonder whether the representatives of other nations would have opposed the appointment, and if they had, whether the Sultan would have changed his mind.

I further wondered on the motive of the initial objection, as I later discovered that it did not originate from the Ambassadors. Whoever initiated it must have done it with the good intention of wanting to have everything done correctly or just being political.

If it is political he will still be unhappy with the Sultan’s second letter, even though it is constitutionally correct.


Today I am asked to officiate this Millennium Law Fiesta 2001 and the Economic Forum.

The question is, am I qualified to do the officiating. The answer is probably positive because I am the President.

But, what do I know about law and economics.

Very little.

Friday, July 16, 2010

27-07-2004 Opening Speech for Ummatic Week 2004

Ummatic Week 2004 – Opening Speech by President of IIUM, at the Cultural Activity Center, IIUM Gombak.

Assalaamu’alaikum warahmatullaahi wabarakaatuh. 
Mr. Chairman, 
The Hon. Rector,
Deputy Rectors, Members of the Academic and Administrative Staff.
Chairman and Committee Members of Ummatic Week 2004.
Invited guests.
Fellow students.
Ladies and gentlemen.


I thank the Chairman and the organizing committee members of Ummatic Week for inviting me to this function and for giving me the honour of opening the event.

A week is a long time for any event.

And the word ummatic is a big word representing the ummah, which means everyone here, and even those outside this university, inclusive of those in other countries.

Much heavier is the theme for this event, that is ‘unity beyond borders’. Presumably, it is the unity of the Muslim Ummah.
A Big Dream

If it is so, it is a big dream,

Some would say that it is an impossible dream. As the work of splitting the Muslim Ummah have started from the day our Prophet Muhammad S.A.W. passed away.

I must congratulate all of you for this big dream, although it cannot be achieved in one week.

But a dream we need to have.

Without a dream there can be no objective.

Without objective there can be no plan of action.

Without a plan of action there can be no results.

Understanding through history

Men have tried to understand themselves through history.

They have studied:

Man as the wanderer,

Man as the settler,

Man as the conqueror, and

Man as the worshiper.


In 1987, at an International Conference of Specialists in Human Evolution, Archeology and Molecular Genetics, it was realised that human being came from one source and spread around the world through migration.

A research project was launched at around the same time to study the global forces now shaping our lives.

The results have now been published in a book on global transformations in Politics, Economics, and Culture.

The conclusion reached by this research, for their economic and social research council, was that globalizaation ‘is an idea whose time has come’.

Monday, July 12, 2010

06-08-2004 - International Conference on Muslims and Islam in the 21st Century: Image and Reality

Closing Speech by the President of IIUM at the Senate Hall of IIUM Gombak Main Campus of the Conference on Muslims and Islam in the 21st Century: Image and Reality on 6th August 2004.

Assalaamu’alaikum Warahmatullaahi Wabarakaatuh.

Alhamdulillaahi rabbil ‘alamin, wassalaatu wassalaamu’ala asyrafil anbiyai wal mursalin, wa’ala a lihi wasahbihi ajma’in.

Mdm. Chairperson, 
The Honorable Rector, 
Deputy Rectors, 
Chairman and members of the organising committee,
Fellow members of the academic staff of IIUM,
Scholars and thinkers,
Invited guests,
Ladies and gentlemen:

Dissatisfaction and Constraints

We have now come to the end of our three days conference.

I am sure none of us are satisfied with the time constraints due to the massive number of papers presented and discussed.

It is a good thing that we are not satisfied, as one of my greatest fears in this university is when lecturers and students are satisfied with what they have achieved.

With satisfaction our struggle might end.

I am glad to inform that I have read all the 90 plus number of papers, given to me since before the conference began. I read them all in order that I will not repeat what have been said in them. Congratulations and thank you for all the wisdom in them, I will talk of other things. Here I go.


It is a divine coincidence that we all meet at this conference in Kuala Lumpur. Some of us have coincidentally met in conferences at other places. These coincidences keep on recurring until we wonder whether they are really coincidences at all.

It is for this reason that Agatha Christie wrote:

“‘Any coincidence’, said Miss Marple to herself ‘is always worth noting. You can always throw it away later if it is only a coincidence.’”

In his book ‘Beyond Coincidence’ author Martin Plimmer and Brian King narrated the coincidences such as:

Laura Buxton, aged ten, releases a balloon from her garden in Staffordshire. It lands 140 miles away in Wiltshire, in the garden of another Laura Buxton, also aged ten.

Is this a coincidence?

Or is it something beyond coincidence?

Two sisters in Alabama decide, independently, to visit the other.

En route, their identical jeeps collide and both are killed.

The authors Martin and Brian asked:

Is someone playing snap with our lives?

Could it be the hand of God?

Or is it magic?

Or are we, as some scientists have suggested, being granted an insight into a hyper-connected universe whose ubiquitous web-like workings we can only dimly discern?

These are questions raised by mathematicians.

But mathematicians are not fanciful people.

They are rationalists, using number to understand life’s mysteries. Where others see coincidences as evidence of magic or divine intervention, they see the laws of probability in action.

These are coincidences in Britain and the U.S.A..

In Asia too we had our coincidences.

Wednesday, July 7, 2010

01-10-2003 - Inaugural Addres at International Conference on Muslim Unity

Inaugural Address of Tan Sri Dato’ Seri Sanusi bin Junid at the International Conference on Muslim Unity in the 21st Century at Nikko Hotel, Kuala Lumpur on 1st October, 2003.

Assalaamu’alaikum warahmatullaahi wabarakaatuh.

Mr. Chairman,
Professor Dr. Kamal Hassan,
Rector International Islamic University Malaysia,
Fellow participants,
Ladies and gentlemen.


As chairman of the International Institute for Muslim Unity at the International Islamic University Malaysia I take this opportunity of welcoming all of you to this conference.


The subjects for our deliberations at this conference are centered upon the word ‘unity ‘.


The day before yesterday there was another conference on finding solutions to our economic problems via the use of gold as currency. The most important word for that conference was ‘ usury ‘. Usury is, at different rates of tolerability, and with different names, at the centre of the current world banking and financial system.


While we are about to implement the usage of gold in international trade, our biggest obstacle is ‘unity ‘ or dis-unity among us.

Before we adopt or harbour negative views on Muslim unity, let us admit that we are better off today than we were before the fall of the Berlin wall and the eviction of communism from Russia and the improvisation of communism in China.

In the second half of the twentieth century we have been united enough to enable us to establish the following institutions:

The Organization of Islamic Conference - OIC

The Islamic Development Bank - IDB

The International Islamic University Malaysia - IIUM

The International Institute for Muslim Unity - IIMU

The Islamic Gold Dinar for International Trade - GIT

The second last is a growing institution while the last is ready for launching.

Fall of Berlin Wall

In the past, i.e. before the fall of the Berlin wall we used to cooperate with the Western Commission, a name we give to those who are against Islam, to fight against the ungodly communism. Let us look at some of those reports that show the situation before the collapse of communism.