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Will Lee go ahead with sukuk bill?

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  • Published Mar 3, 2011 4:38 pm KST
  • Updated Mar 3, 2011 4:38 pm KST

By Na Jeong-ju

President Lee Myung-bak called for a greater role for the Christian community in addressing social conflicts, Thursday, in an apparent appeal to some church leaders who have opposed the government’s plan to give tax benefits to holders of Islamic bonds, or “sukuk.”

“All Christians, including me, need to sacrifice themselves and play a bridging role to secure national unity,” Lee said in a prayer meeting in Seoul.

The meeting drew keen attention amid controversy regarding collective action by some Christian groups to nullify such a plan aimed at attracting investment from oil-rich Muslim countries.

Rev. David Yonggi Cho, pastor and founder of the Yeouido Full Gospel Church, the country’s largest church, recently threatened to stage a campaign to force Lee out of power, sparking a wave of criticism from the public.

Lee is now facing a question: Will he risk his close ties with Christian groups to push for the legislation of the sukuk plan?

At the prayer meeting, he neither directly mentioned the controversy nor expressed bad feelings toward Cho.

“Korean churches have played a pivotal role in advancing our society. We should continue to make relentless efforts to create a better country,” said the conservative leader.

One of his aides said he’s deeply concerned about speculative media reports suggesting a rift between Lee and the Christian groups.

“It’s true that Cho made a threat against Lee. However, he doesn’t represent the whole Christian community,” the official said, asking not to be named. “Should he change his religion because of the pastor? No way.”

The event, held at Coex in southern Seoul, drew more than 3,000 people, including influential church leaders and ordinary Christians. Cho didn’t attend.

The governing Grand National Party (GNP) has decided to stop deliberations on the sukuk bill as conservative Christian groups vowed to launch a no-vote drive against lawmakers who supported it.

The groups have been vehemently against the idea of allowing the trade of Islamic bonds because they believe that sukuk is “dangerous money.” They suspect that part of the profits from transactions could be used to support Islamic fundamentalists and terrorism.

Such a campaign has sparked disputes on relations between politics and religion.

Some politicians, including Lee Hoi-chang, chairman of the minor opposition Liberty Forward Party (LFP), have expressed regret over the intervention of Christian groups in the legislation process.

“The Constitution states that religion and politics are strictly separate. Churches should stay away from politics,” Lee said Wednesday.

Hours later, the Council of Presbyterian Churches in Korea issued a statement to criticize the LFP leader and proposed an open debate with him.

Government officials say the introduction of Islamic bonds is crucial to stabilizing the local capital market amid the country’s growing economic ties with Muslim countries.