Islamic University of Indonesia

Islamic Economic Changes Asian Economy

Wednesday, 20 June 2012

Development and advancement of the Islamic economic practices have changed ideas and practices of Asian economy significantly. Discourse and practice of Islamic economic has accessesed the developed e country and those developing countries in Asia particularly. That was the background or circumstances of the 3rd International Workshop in Islamic Economic Theory: Islamic Public Wealth Management held by the Centre for Islamic Economics Development and Study (P3EI) UII in collaboration with the Faculty of Economics, Research Centre for Islamic Economics and Finance (EKONIS) Faculty of Economics and Management, Universiti Kebangsaan Malaysia.

The workshop was scheduled to last for two days, 19-20 June 2012 at the Auditorium of Faculty of Industrial Technology (FTI) UII. This third workshop was a continuation of the workshops that have been held in previous years. Several papers from the workshop participants have been selected and presented during this workshop.

"The committee has managed to collect a total of 29 papers from participants, including participants from Malaysia, Indonesia and Iran," said committee chairman, Achmad Tohirin, Ph.D. began his speech.

Meanwhile, Dean of Faculty of Economics UII, Prof. Drs. Hadri Kusuma, MBA., DBA said that this workshop can serve as a forum for researchers in the field of economics to share to the world concerning today’s Islamic economic developments considering that Islamic economics as a scientific discipline has a positive outlook for the future.

UII Rector, Prof. Edy Suandi Hamid, M.Ec, in his opening remark mentioned that the Islamic economic principles appreared highly relevant to today’s business and banking system because the practice of Islamic economic system always focuses on aspects of mutual interest, even mutually benefit from each other. "Islamic economic is rightly be used to improve the public discourse on the practice of Islamic economic in Asia" he said.

Prof. Edy also added that Islamic economics has now become the only alternative to against the Western capitalist economic system since the collapse of the Soviet Union as the representative of the Socialist economic system. It was not excessive considering there are many positive values and characteristics of Islamic economic system like interest and inclusive system of zakat.

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