Seminar on Islamic economics, finance and technology

The international Islamic finance seminar on Islamic Economics, Finance, and Technology Australia (IEFTAR) 2022, was organised at the Greenacre Citizen Centre on Saturday 1 October, with assistance from the Faculty of Business Economics at Syiah Kuala University and IIUM Aceh Chapter Alumni (IAAC).

Ashabul Kahfi Islamic Center (AKIC) in Sydney worked with Shariah Economic Society (MES) Australia to offer the Islamic finance seminar this year after successfully conducting a similar event in 2021.

With a special theme on Ummah Fund Governance, IEFTAR 2022 invited a number of prominent speakers from academics and professional practitioners to the event.

IEFTAR 2022

This international seminar on Islamic finance was opened by Sheikh Dr Chalidin Yacob the founder of the Ashabul Kahfi Islamic Center Sydney and Ustadz Dr Cand Muhammad Saifurrokhman Mahfudz as the president of MES Australia.

Participants of IEFTAR 2022 at the Greenacre Citizen Centre.

Sheikh Yacob thanked the participants for their presence and welcomed all the speakers who had taken the time and opportunity to attend IEFTAR 2022.

Meanwhile, Ustadz Mahfudz in his remarks emphasized that there are at least three factors needed to optimize the process of managing ummah or public funds, especially in Australia: solid government regulations; proper procedures; and ethics in handling ummah’s funds.

To create governance that complies with shari’a, rules, and conscience, all of these factors are critical.

Memorandum of Agreement (MoA)

The programme chair of IEFTAR 2022, Dr Teuku Aulia, who is also a member of the MES Australia expert council, noted that this year’s IEFTAR implementation was particularly noteworthy because, in addition to discussing Islamic finance issues relating to the ummah’s funds, IEFTAR 2022 also served as a venue for the signing of two memorandums of agreements between the Ashabul Kahfi Islamic Center (AKIC) and two esteemed academic institutions in Indonesia.

Dr Aulia expects that by signing these memorandums of agreements, FEB USK and FEBI UIN Arraniry will be able to support AKIC and MES Australia’s efforts to raise awareness of Islamic finance among Muslim communities in Australia, particularly in Sydney.