Islamic financial systems not only relate to commercial finance under the Islamic economic system but also relate to social finance with the same goal of achieving fallah. There are many challenges faced by the Islamic social finance sector consisting of various not-for-profit modes of Islamic finance, zakah, waqf, and non-profit microfinance institutions.
In this sector, institutions have to address the issue of sustainability in the supply of funds. Moreover, technological innovation has transformed the financial services industry over the past decade, and further disruption of the traditional financial sector is almost certain. Identifying these challenges is the first step towards meeting them. It is a brief introduction to an Islamic Social Finance, it is hoped, will culminate in an effort to modernize these reviving issues to address the economic and social needs of contemporary Muslim societies.
In order to accommodate the need for increasing demand of knowledge and development of Islamic Social Finance, University of Darussalam (UNIDA) GONTOR officially hosted the 7th ASEAN Universities International Conference on Islamic Finance (AICIF 2019) in December 2019, under the theme “Revival of Islamic Social Finance To Strengthen Economic Development Towards A Global Industrial Revolution”.
The 7th AICIF will provide a platform for dialogue and discussions between policy-makers, academics, researchers, graduate students, and practitioners to address the historical and fundamentals of institutional, macroeconomic stability, and inclusive economic growth, innovation in financial technology from the perspective of the Islamic social finance discipline. In this context, theoretical and empirical research papers are invited in English and Arabic languages for submission to the conference in the following and related areas:
1. Historical of Islamic Social Finance and Its Fundamental in Islamic Perspective.
2. Strengthen Economic Development Towards a Global Industrial Revolution in Islamic Perspective.
3. The Role of Sharia Governance and Regulatory Framework in Islamic Social Finance to Strengthen Economic Development.
4. Harmonize the Growth and Resilience of Islamic Social Financial System in the Light of Modern Finance.
5. Enhance the Islamic Social Finance for Financial System Stability Purposes.
6. Comparing Islamic Social Finance to the Contemporary Practice.
7. Innovations in Islamic Social Finance Instruments in the Light of Modern Finance.
8. Measuring and Assessing Islamic Social Finance to Strengthen Economic Development.
9. Determinants of Islamic Social Finance in a Global Industrial Revolution.
10. The Roles of Islamic Digital Economy, Islamic E-commerce and Islamic Fintech in Strengthening Economic Development.
11. Determinants of Sharia Compliance Criteria for Islamic Social Finance toward Maqashid Sharia Framework: Approach and Methodology.
12. Dynamism and Mechanism of Islamic Social Finance in the Light of Modern Finance.