"The only way for Muslims to catch up with the modern times is to wage an ‘economic jihad’ by mobilizing available resources and promoting business in the region," said Jamil Hamza Olemo, MBF chairman.
Muslims, he said, are traditionally traders who have actively taken part in the international trading system from Asia to the Middle East.
Olemo, however, said their counterparts in neighboring countries like Malaysia and Indonesia have overtaken them because of political upheavals and lack of opportunities.
To rekindle such an "economic jihad (traditionally, meaning holy war), the MBF, in coordination with various business groups in Mindanao, is holding a Muslim Business Summit on Jan. 21-23 in General Santos City.
The three-day summit seeks to enhance linkages among business groups in the East ASEAN Growth Area (EAGA) and provide equal opportunities and a level-playing field to Muslim entrepreneurs in Mindanao who wish to interact with their EAGA counterparts.
Olemo lamented that many Muslim traders feel they do not belong to the business community and lack the confidence — largely due to the mistrust of some sectors in their capability and potential — in pursuing business ventures.
For instance, he said they find it difficult to get credit assistance from commercial banks in the absence of any lending facilities catering to Muslim borrowers.
Even Muslim jobseekers, he added, find it hard to seek employment in the private sector.
To overcome these obstacles, Olemo urged his fellow Muslims to redirect their energies to the "economic jihad" and join their Christian brothers in promoting the development of Mindanao.