Sunday, June 7, 2015

MILF: Indonesian professors educate Mindanao stakeholders on Shari’ah economics

Posted to the MILF Website (Jun 7): Indonesian professors educate Mindanao stakeholders on Shari’ah economics

Indonesian professors educate Mindanao stakeholders on Shari’ah economics

Two Indonesian university professors discussed Islamic finance and Shari’ah economics with stakeholders from Mindanao geared towards crafting a Philippine Framework Shari’ah Compliant Social Enterprise.

Indonesian economics experts, Prof. Piyongi Suceno, a master in economics, and Agus Widarjono, a doctor of philosophy with major in agricultural economics, shared Indonesia’s experience in practicing Islamic banking and finance.

The activity, Philippine Shari’ah-Complaint Social Enterprise Forum, was dubbed “Shari’ah Economics, New Paradigm. It was hosted by Ateneo de Davao University (ADDU)-based Al Qalam Institute.

Professor Mussolini S. Lidasan, Al Qalam Director, said “the rise of concerned individuals with consideration on Islamic principles practices in all aspect of life leads to an increasing intention to implement such principles in business activities.”

The forum is an effort in line with the ongoing Bangsamoro peace processes between the government and the two revolutionary Fronts, the Moro Islamic Liberation Front and Moro National Liberation Front.

“This forum is not only for the Bangsamoro people but also for the social entrepreneurs in the Philippines particularly in Mindanao,” Lidasan added.

The activity was aimed to have a workable social enterprise that focuses on peace building in Mindanao and incorporating the Shariah principles.

Suzeno related the “slowly but surely” development of Islamic finance in Indonesia which was primarily supported by its people.

He also discussed the current status of Islamic banking and finance among the Muslim countries around the world.

He said Indonesia’s experience in microfinance can be replicated in the Philippines particularly in the Bangsamoro communities. He underscored the importance of stakeholder’s support to develop Shari’ah compliant financing.

Widarjono tackled the concepts and principles on agricultural economics and Shari’ah prospects. The two experts discussed the different Shari’ah compliant financial instruments.

Islamic bankers, Muslim businessmen, head of governmental departments, financial planners, wealth advisors, financial consultants, legal practitioners, academicians, entrepreneurs and civil society leaders were the participants of the forum.

Shari’ah principles on financing strictly adapt business engagements that are free from Riba or interest, uncertainties, and gambling.

Under Shari’ah-compliant financing, products must strictly be clean and free from Haram (forbidden) contents like pork, blood, and any substances detrimental to human health.



http://www.luwaran.com/index.php/new/item/398-indonesian-professors-educate-mindanao-stakeholders-on-shari-ah-economics

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