Gaming (judi) is less haram,maybe even halal under Islam Hadhari

Then:

BANK Negara will stand firm in not allowing any company with gaming interests to own equity stakes in banks, a stand which may affect Berjaya Group's proposed purchase of a 20 per cent stake in Intradagang Merchant Bankers (M).....Jaffar said companies in such a position will have to forgo their gaming interest first before acquiring any stake in a bank.

"Gaming and banking do not go together," Jaffar added.

(Source:GAMING FIRMS CAN'T HAVE STAKES IN BANKS'.
By Mustapha Kamil. 31 March 1993
Business Times)

Now:
From the Berjaya Corporation website :

KUALA LUMPUR: Asia’s first private mint is almost complete and is set to start operations by the end of this year.

The RM700mil Focus Equity Sdn Bhd facility in Bukit Tagar, near Kuala Selangor, is the only private currency printing outfit outside Europe and aims to make Malaysia a world player in this niche industry.

Most mints are owned by governments.

“The new and ultra modern high-tech facility has the latest security features that other currency printing presses in the world run by governments will not have,” said managing director Joseph Vijay Kumar.

“The high-tech security features will be able to deter counterfeiters.”

Focus Equity will print 1.5 billion currency notes a year by the beginning of next year for both the domestic and foreign markets, Joseph said.

Berjaya Group Bhd and Istimewa Restu Sdn Bhd, owned by Joseph, hold a 32.5% stake each. One of Europe’s leading private printers, Royal Joh Enschede of the Netherlands, holds 5% and the rest is held by various parties.

The Dutch company and Focus Equity, which specialises in working with printers supplying the ringgit, had signed an agreement witnessed by Prime Minister Datuk Seri Abdullah Ahmad Badawi in Amsterdam in May to set up the plant.

In addition to printing currency notes, the plant can also print other high security documents such as passports, bond certificates and stamps.

Joseph said that Focus Equity could produce both conventional banknotes as well as synthetic polymer notes.
(http://www.berjaya.com.my/180407thestar.htm)


Berjaya's main source of cash remain the revenue from Sports Toto.
It seems that while in the past "gaming and banking do not go together," today under Islam Hadhari gaming and printing the country's currency is kosher/halal.

Comments

  1. ElizabethOctober 16, 2007 at 7:46 PM

    A private currency printing company is not a bank. Duh!

    ReplyDelete
  2. Thomas TeeJune 8, 2009 at 11:50 AM

    This comment has been removed by the author.

    ReplyDelete
  3. Max AzaraJune 8, 2009 at 11:52 AM

    I heard this project never got kick off and now ceased by the bank due to the contract..

    Any confirmation on this? I know they are in a court case with the bank at the moment..wonder what happeend to the factory and machineries?.

    ReplyDelete

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