The Faculty of Islamic Economics and Business (FEBI) State Islamic University (UIN) Sunan Kalijaga Yogyakarta successfully hosted the 5th International Short Course (ISC) 2024 with the theme "The Growth and Challenges of Sharia Investment Products for Sustainable and Inclusive Finance in the Digital Age." The five-day event, running from July 29th to August 2nd, 2024, commenced with an opening ceremony on Monday, 29 July 2024, at the FEBI Theatrical Hall on the 5th floor. The ceremony was attended by the Rector of UIN Sunan Kalijaga, Prof. Dr. Phil. H. Al Makin, M.A., along with university leadership, faculty deans, and the Director of the Postgraduate Program UIN Sunan Kalijaga Yogyakarta.
In his opening remarks at the commencement ceremony, Dr. Afdawaiza, Dean of FEBI UIN Sunan Kalijaga, expressed his honor in welcoming participants from distinguished institutions and diverse corners of the globe. He acknowledged the varied perspectives and experiences they bring, which will undoubtedly enrich the intensive 5-day training program. The 5th International Short Course, focusing on "Growth and Challenges of Sharia Investment Products for Sustainable and Inclusive Finance in the Digital Age," aims to provide a comprehensive understanding of Islamic investment principles and examine the factors driving growth and emerging opportunities, while also addressing regulatory and operational challenges.
Afdawaiza added that this short course will focus on the role of Sharia investment in promoting sustainable and inclusive finance, examine the impact of digital technology, and explore innovative solutions. The program offers a comprehensive overview of Islamic finance, covering fundamental concepts, principles, and their application in Islamic Banking, Islamic Insurance, Sukuk, Islamic Capital Markets, Islamic Social Finance, and other key financial instruments.
He noted that fluctuating economic conditions pose challenges to all financial systems, including the Sharia financial system. However, the Sharia financial system possesses unique features that make it more resilient and stable in the face of economic and financial crises compared to conventional financial systems. Principles such as risk-sharing, asset-based transactions, prohibition of interest, a focus on transparency, and investment ethics contribute to the stability of Sharia finance. With innovation and standardization, Sharia finance can become even more effective in dealing with global economic volatility. However, it is crucial to continually refine instruments and regulations that support the Sharia financial system to enhance its efficiency in addressing global economic challenges.
The short course also features renowned experts and practitioners in Islamic finance to share their knowledge and experiences. Their expertise will guide participants through the theoretical foundations and practical applications of Islamic finance, ensuring a comprehensive understanding of the subject matter. Among the distinguished speakers are Prof. Dr. M. Arief Mufraini, Lc., M.Si., Executive Board Member of the Hajj Fund Management Agency (BPKH), Republic of Indonesia; Muhammad Iqbal Balative, Head of SBSN Transaction Planning and Instrument Development, Directorate of Islamic Financing, Ministry of Finance, Republic of Indonesia; Dr. Syarah Syahira Yusoff, Head of Program, Institute of Islamic Banking and Finance, International Islamic University Malaysia (IIUM); Assoc. Prof. Hakan Aslan, Director of ISEFAM and Head of the Islamic Economics and Finance Department, Sakarya University, Republic of Türkiye; Dr. Abdul Qoyum, M.Sc., Islamic Finance Expert and Head of the Sharia Economics Study Program, Faculty of Islamic Economics and Business, UIN Sunan Kalijaga, Indonesia; Asep Suwondo, Director of Insurance, Guarantee, and Pension Fund Development, Indonesia Financial Services Authority (OJK); Irwan Abdalloh, Head of the Islamic Capital Market Division, Indonesia Stock Exchange, Republic of Indonesia; Tika Arundina Aswin, M.Sc., Ph.D., Head of the Sharia Economics Department, University of Indonesia; Dr. Imran Haider, Faculty of Business and Law, Curtin University, Australia; R. Eko Adi Irianto, Principal Economist, Department of Sharia Economy and Finance, Bank Indonesia.
Dr. Afdawaiza emphasized that this event is an excellent opportunity to build networks and foster collaboration. He encouraged all participants to actively engage in discussions, share perspectives, and establish lasting connections and collaborations beyond the program. Diversity is a powerful force, and through mutual learning, participants can collectively expand their understanding and practice of Islamic finance.
“We hope that all parties derive significant benefits from this program. May it inspire, broaden horizons, and equip participants with the knowledge and skills needed to make meaningful contributions to the field of Islamic finance,” he concluded.
The 5th International Short Course was officially opened by the Rector of UIN Sunan Kalijaga with the striking of a gong and the presentation of ID cards and academic gowns to two representative participants. The ceremony concluded with the singing of the UIN Sunan Kalijaga jingle, marking the end of the vibrant opening event.
This program is sponsored by Bank Indonesia, the Hajj Fund Management Agency (BPKH), PT. YIPU Natural Technology, Bank Syariah Indonesia, and PT. Asuransi Bumida. (Public Relations Team)