The Hon. Rauff Hakeem, Attorney-at-Law

¶ 01 Bismillahir Rahmanir Raheem.

¶ 02 Hon. Presiding Member, we are discussing the Microfinance and Credit Regulatory Authority Bill, long under discussion. It replaces the 2016 law brought by our Government for good reason. However, many organizations—especially women‑led community savings and credit service providers—made representations pointing out serious shortcomings. They sought full exemption because they are membership‑based, lend only to members, are non‑profit, require no collateral, and cap interest—unlike predatory lenders. They asked to be separately categorized, but this has not been accommodated. The Government says regulations will come later; that is inadequate.

¶ 03 I must also address the grave Middle East crisis impacting the global and our economy. This morning I asked the Hon. Foreign Minister a simple question: the Supreme Leader of Iran has been assassinated in total violation of international law; will the Government openly condemn this and offer condolences? He replied he would sign a condolence book at the Embassy—what a joke. Iran has consistently supported Sri Lanka in international fora. Fear of the US should not erase our principles. Even in India, key leaders have failed to condemn; Sonia Gandhi rightly said this is not neutrality but abdication. Tamil Nadu’s Chief Minister and others condemned; our Government has not. The President spoke in this House yesterday about fuel, gas and storage, but not a word about a friendly nation’s leader’s death. We must have the courage to speak against injustice.

¶ 04 When Venezuela’s President was abducted, this Government said nothing—despite their professed Che Guevara roots. When Israel attacked Qatar during mediation efforts, our Government issued a mealy‑mouthed statement without naming or condemning the perpetrator. Now, after the targeted killing by US‑Israeli bombardment, again silence. This is despicable.

¶ 05 It is also regrettable that several Gulf countries, including Saudi Arabia, have suffered Iranian missile and drone strikes. I expressed solidarity with Saudi Arabia, the UAE, Qatar, Bahrain, Kuwait and Jordan, urging de‑escalation, nuclear non‑proliferation by Israel, and respect for peaceful nuclear use—towards a cooperative Middle East. Gulf leaders have shown restraint during Ramadan, refusing to be drawn into a US‑Israeli trap. As Kissinger said, “To be an enemy of the U.S. is dangerous, but to be a friend is fatal.” They are wisely cautious.

¶ 06 Hon. Presiding Member: Hon. Member, your time is over now.

¶ 07 I will conclude with John F. Kennedy: “Those who foolishly sought power by riding the back of the tiger ended up inside.” If we tolerate such actions and remain silent in the name of “neutrality,” we abdicate sovereignty and become slaves to imperial powers—including in the eyes of our own people. Thank you.