INTERNATIONAL SEMINAR ON ISLAMIC ECONOMICS

THE ROLE OF ISLAMIC ECONOMICS IN GLOBAL FINANCIAL CRISIS

I. ACTIVITY NAME

International Seminar on Islamic Economics, Postgraduate Program of IAIN Raden Fatah Palembang and The Indonesian Association Islamic Economics (IAEI), theme: "The Role of Islamic Economics for Financial Global Crisis"

II. DESCRIPTION

World economic crisis today has significant impact upon financial institutions such as bank, insurance, pension fund, multifinance, and other financial institutions. Lots of world-wide financial institutions like Lehman Brothers and AIG are also beaten by this crisis. Many experts say the cause of this crisis is underlying asset in the form of paper or trust that results in world-wide economy destruction. In such cases, syariah economics can be one of the solutions for this financial global crisis. Unfortunately, Syariah Business Economics has not been fully understood and its mechanism has not run properly. This problem becomes a barrier in overcoming the crisis. So that, it is expected that this seminar will give knowledge about syariah economics and business, and offers solution for the economic crisis as well through the implementation of syariah economic approach.

On the other side, it is believed that there are several causal factors of the slow going process of national economy recovery, namely: first, governmental interference has resulted the economic sovereignty is not in the hand of people, and market mechanism has not functioned effectively. Second, economic gap between center and local, inter-regions, inter-agents, and inter-earning classes, has extended to all life aspects so that economic structure is unable to sustain it. This is indicated by the rise of monopoly, and economic strength concentration just in the hand of certain society and area. Third, the condition of society security and orderliness is unstable. Fourth, the act of law enforcement is still weak.

Referring to several causal factors mentioned above, actually they can be categorized into one that is power concentration, either economic or political satisfaction concentration. Lord Acton portrays that "power tends to corrupt and absolute power tends to corrupt absolutely". When there is concentration of power, there is corruption, if there is corruption, market mechanism cannot work; and if market mechanism does not work, it means there is monopoly/economic concentration, as a result, it is impossible to have even distribution, indeed it will bear a gap. In consequence, there is only one solution, avoid power concentration, both economic and political power. This is the real urgency of syariah based economic principle involvement because in Islamic economic principle, dissemination of productive asset ownership will happen automatically and systematically. This principle is clearly reflected in al-Qur'an; Al-Hasyr : 7 don't let the asset only circulate in the hand of certain group or people.

The excellence of Islamic economic system lies in its working principle in running the spiritual civilization or spiritual economic. Successfulness of China in building its economy cannot be separated from the policy of Jiang Zemin through the implementation of spiritual civilization based economic politic. Then, Deng Xiaoping and Zhu Rongji continue conducting economic reform with the same concept. The result nowadays can be seen by the world, China has shown its spirit as an Asia nation that owns strong pillar.

III. OBJECTIVES

a. To explore the treasure of Islamic economic theories proposed by Muslim intellectuals.

b. To map a number of Islamic economic system strengths as spiritual civilization applied by several countries in the world.

c. To integrate - in implementation effort – Islamic economic system as a solution for global and national economic recovery.

IV. TARGET

a. There is an exploration of the treasure of Islamic economic theories proposed by Muslim intellectuals.

b. There is a map a number of Islamic economic system strengths as spiritual civilization applied by several countries in the world.

c. There is integration of - in implementation effort – Islamic economic system as a solution for global and national economic recovery.

V. TIME AND VENUE

This activity will be held on August 4-5, 2009 in Academic Centre of IAIN Raden Fatah Palembang.

Fee :
Student of IAIN Raden Fatah : Rp. 100.000
Public Participant : Rp. 150.000

Info & Registration :
PPs IAIN Raden Fatah Palembang
Jl. Prof. KH. Zainal Abidin Fikri No.1 Palembang - Sumatera Selatan
Telp/Fax : 0711.353520

Contact Person : Yudhi (0813 77512772)
Fahmi (0813 73013037)

IV. THEMES & SPEAKERS

No	Themes	Speakers
1	Islamic Economics: Challenges and Opportunities for Financial Global Crisis	Prof. Aslam bin Hanif (IIUM)
2	The Role of Waqf in Islamic Economic System	Prof. Dr. Syed Hamid (IIIT)
3	Obama’s Economical Policy in Overcoming the Financial Global Crisis	Consul American Consulate Medan
4	A Successful Islamic Finance System: Lesson from Malaysia	Dr. Habib Chirzin (IIIT)
5	The Role of Sukuk the Economy Development in Indonesia	Dr. Dahlan Siamat
6	Prospective of Dinar and Dirham as Single Currency of Islamic World	Prof. Dr. Faisal Rifa'i, M.BA
7	Obligation Position as Syariah Monetary Instrument	Mustafa Edwin, Ph.D. (UI)
8	Urgency of Syariah Accountancy in Indonesia	Ir. Adiwarman Karim, M.BA
9	The Analysis of Indonesia Economical Policy in Overcomiing the Global Financial Crisis	Prof. Dr. Sri Edi Swarsono
10	Acaceleration for Development of Islamic Banking to increase market share of Islamic Banking in Indonsia	Dr. Ramzi A. Zuhdi (BI).
11	Accounting for Islamic Bank	Muh. Ahyar Adnan., SE., Ak., M.BA., Ph.D
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