Destruction of parliamentary system
i immediately after the interpellation of the minister of finance falah al-hajraf and ‘defeat’ of the noconfidence motion, the tweet of mp muhammad hayef read: ‘the minister of finance was obliged to pledge to stop usury and apply the fatwa of the awqaf ministry related to loans of retirees and the implementation of the judicial decisions issued for the benefit of employees exposed to injustice by the public institute for social security in return for not signing the no-confidence vote request, and the minister pledged to do so in front of a number of deputies.
this joke alone is sufficient to demonstrate the naivety of our political situation, and the weak relationship between the executive and legislative authorities. add to this the lack of seriousness and the readiness of both parties to cheat the citizens. the deputy has no right to demand such an order which is likely impossible and the minister has no right to give something beyond his authority with our due respect for both parties.
the tweet also showed that the noconfidence vote was and is still subject to bargaining in the national assembly and has nothing to do with the minister’s shortcoming and the need to fi le the no-confi dence move or the opposite. mp mohammed hayef may be the most honest in his positions, and most enthusiastic to apply what he believes in, and did not try to hide his intentions, but things cannot be solved in this way.
i can claim, by virtue of age and experience in the field of business and finance, that what the mp requested and what the minister agreed to is mockery of the voter and the citizen in general. the financial systems of kuwait and the world are based on the fact that money has real value and this value decreases with time.
for example, what we can buy today for a specific price cannot be bought for the same price after a year. it is, therefore, necessary to develop that value of money in one way or another. if a person, for example, allocates one million dinars to give the needy good loans to return to him after fi ve or ten years, they will return him a million after losing a percentage of its value, and that is why humans have agreed over the years that those who borrow money should return it after a short or long period with a specific percentage which is now known globally and adopted by all countries of the world without exception.
therefore, any change claimed by mp mohammed hayef would be purely formal. the global system, with its many names and what is included in the contracts of refinancing or borrowing between any bank and any borrower, does not hide the purpose of the borrowing process which is to make profit and benefit to the parties of the contract and the percentage of profit is often determined based on prevailing interest on deposits or borrowing in dollars.
therefore, we hope that the minister of finance will restore our little confidence in our parliamentary system and deny his relation to what is included in this tweet and explain that the issue is related to the established banking system that cannot be changed with the stroke of a pen.
