Islamic finance experts share knowledge at 7th AICIF

Azlan Othman

Universiti Islam Sultan Sharif Ali (UNISSA) through the Faculty of Islamic Economics and Finance (FEKIm) attended the 7th ASEAN Universities Islamic Finance Conference (7th AICIF) at the University of Darussalam Gontor, Indonesia on December 3-4.

AICIF is an annual collaboration conference organised by seven ASEAN universities on a rotational basis. Universities involved were Universiti Islam Antarabangsa Malaysia (Malaysia), Universitas Islam Negeri Sunan Kalijaga Yogyakarta (Indonesia), Universitas Islam Sultan Agung Semarang (Indonesia), Universitas Darussalam Gontor (Indonesia), Institut Agama Islam Tazkia Bogor (Indonesia), UNISSA (Brunei), and Mindanao State University (the Philippines).

This year, UNIDA Gontor Indonesia hosted the 7th AICIF with the theme ‘Revival of Islamic Social Finance to Strengthen Economics Development Towards a Global Industrial Revolution’.

Five main papers were presented in two plenary sessions and 98 selected papers were presented in parallel sessions. The papers presented cover four main categories – Islamic Social Finance, Islamic Economics, Banking, Finance and Capital Market, Islamic Management and Fintech.

Dean of FEKIm Dr Abdul Nasir bin Haji Abdul Rani led the UNISSA delegation.

Participants of the 7th ASEAN Universities Islamic Finance Conference in a group photo. PHOTO: AZLAN OTHMAN

UNISSA presented five papers at the conference. Dr Muhd Zaki bin Haji Zaini shared on Awareness of Main Objective of Zakat to Alleviate Poverty, Muhd Khairul Hidayatullah bin Haji Basir spoke on Establishment of Zakat Bank: Do We Need one? while Associate Professor Dr Haji Abdurrahman Raden Aji Haqqi focussed on Shariah Audit for Islamic Finance Industry in Revolution Industry 4.0: A Part of  Religious Confession.

Hajah Nurul Nabilah bint Haji Ali presented a paper on the Relationship between Entrepreneurship and Improving Youth Employment: A Study of East and South Asia. FEKIm Islamic Finance PhD student Suhaili bin Haji Momin delivered on The Role of International Organization of Securities Commission (IOSCO) and Islamic Financial Services Board (IFSB) in Sukuk Progress in Brunei Darussalam.

AICIF will continue to be an important platform to strengthen UNISSA’s academic and research cooperation with ASEAN national universities in discussing and evaluating the latest developments in Islamic finance and banking.

AICIF Council during an executive meeting also agreed to expand its membership to other ASEAN member countries such as Singapore and Thailand.