The projected global economic slowdown combined with many challenges, such as increasing global tension and fragmentation, has created complex issues in today’s effort for spurring and maintaining economic growth and managing it all at once. In the global financial sector itself marked with increasing risk and high interest-rate period and putting more pressure for businesses to excel. These challenges underscore the need to come together and advocate every resource available to achieve productive, inclusive, resilient and sustainable economic growth. In this dynamic backdrop, managing public finance to achieve optimal economic impact are strictly the “state of the art” of fiscal policy. Moreover, framing public finance management from the Islamic public finance framework offers a unique model of approach and critical for Indonesia in this current global contexts Indonesia bear the potential of Islamic public finance.
Islamic public finance offers a framework with a wide nuance and benefits of instruments, variety mode of governances, and optimizing fiscal space, from revenue mobilization, spending, public good provisions, welfare policy, to promote productive and sustainable financing scheme. For Indonesia as the country with huge moslem population (around 237 million or around 87 percent of the total population), Islamic public finance aside as one of approach models, offers great potentials development since Indonesia is greatly known for its Islamic Social Finance (ISF) prospects which it can be part (integrated) of Indonesia’s Islamic public finance integrated framework (governance).
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Ministry of Finance, Republic of Indonesia
President of Islamic Development Bank Group
Vice Minister of Finance of the Republic of Indonesia
Assistant of Minister for Financial Services and Capital Market Policy and Regulation, of Finance of the Republic of Indonesia
Head of Fiscal Policy Agency
Malaysia’s Minister of Finance II
Vice president of IsDB
Senior Research Economist, IsDB Institute
IPB University
Ministry of Finance of Kingdom Saudi Arabia
Deputy for Entrepreneurship, Ministry of Cooperatives and SMEs
Director of Islamic Financing, Ministry of Finance of the Republic of Indonesia
Lecturer, Polytechnic of State Finance STAN
Head of Policy and Stakeholder Cooperation Division, Islamic Banking Department, Financial Services Authority
BMT Beringharjo
Chief Operating Officer Waqaf An Nur Corporation Berhad Malaysia
Director of Islamic Social Finance KNEKS
Director Islamic Finance Development Department at State Bank of Pakistan (SBP)
Director of the SME Center, Faculty of Economics and Business, Universitas Indonesia
Bank of Indonesia
Airlangga University
IAEI
Registration
Opening MC
National anthem: Indonesia Raya
Opening Remark Thomas A. M. Djiwandono, Vice Minister of Finance II, Republic of Indonesia
Photo Session (Vice Minister of Finance of the Republic of Indonesia, Malaysia’s Minister of Finance II, Chairman of Fiscal Policy Agency)
Guest Lecture 1: The Role of Government in the Public Sector and Provision of Public Goods to Improve People's Welfare from the Islamic Perspective H.E. Amir Hamzah Azizan, Malaysia’s Minister of Finance II
Panel Session 1: Islamic Public Finance & Fiscal Policy: Managing Revenue, Financing and Spending on Maqashid Shariah Perspective to Create Economic Impact This session offers insight on Islamic public finance and fiscal policy (management) in related to public expenditure (providing public goods), Islamic tax or levy and others, and financing management. It will discuss about historical and contemporary framework, strategies, and instruments, implementation (practice) and development, including its challenges and opportunities for governments to create economic impact. This panels will also cover maqashid shariah framework on spending in providing public goods that supports productivity, inclusivity, sustainability and resiliency.
Discussion Chair: Bayu Arie Fianto, Associate Professor, Airlangga University
Photo Session (Panel Session 1 - Virtual)
Zuhur Prayer & Lunch Break
Panel Session 2 - Showcase of Islamic Social Fund Development in Indonesia: Islamic Public Finance Revenue Management: Utilizing Islamic Social Finance for Productivity, Inclusivity, Sustainability and Resilience
This session offers insight on contemporary Islamic public finance revenue management in utilizing Islamic social finance. It will discuss on current framework, strategies, products/innovation and development, including its challenges and opportunities for governments. This panels will cover linkages between public finance, financial sectors (government and private sectors) and real sectors in managing Islamic social finance instruments to provide public goods that supports productivity, inclusivity, sustainability and resiliency.
Discussion Chair: Rahmatina A. Kasri, Director at Centre for Islamic Economics and Business, Faculty of Economics and Business, Universitas Indonesia
Photo Session (Panel Session 2 – Virtual)
Ashr Prayer
Call for Paper (Break Out Session) PIC: Universitas Indonesia
Opening National anthem: Indonesia Raya Quran recitation
Du’a
Welcoming remarks Febrio N. Kacaribu, Head of Fiscal Policy Agency
Keynote from IsDB Group Datuk Amer Bukvić, Director and Resident Representative, Regional Hub Indonesia, Islamic Development Bank Group
Special Keynote: H.E. Sri Mulyani Indrawati, Finance Minister of the Republic of Indonesia
Phote Session (Chairman of Fiscal Policy Agency, Resident Representative IsDB Group, Finance Minister of the Republic of Indonesia)
Special Session: Islamic Social Fund Role in Women Empowerment: Advancing Women MSMEs through Waqf Fund and Islamic Commercial Finance (Khadijah Program)
This session will showcase best practice in empowering women micro, small and medium entrepreneurs (MSMEs) through financing and especially highlighting the role of Islamic social, in the incubation and development process.
Firetalk with Mrs. Mursida Rambe (BMT Beringharjo) Islamic Finance Role in Empowering Women MSME: Impact Financing Experience from BMT Beringharjo
Discussion Chair: Zahra Kemala Nindita Murad, Director of the SME Center, Faculty of Economics and Business, Universitas Indonesia
Friday Prayer & Lunch Break
MC Opening
Guest Lecture 2: Islamic Public Finance & Fiscal Policy: Managing Revenue, Financing and Spending on Maqashid Shariah Perspective to Create Economic Impact Zamir Iqbal, Vice President of Islamic Development Bank
Announcement of Call for Paper Winner and Awards by Universitas Indonesia
Photo Session (Call for Paper Winner – Virtual)
Panel Session 3: Islamic Public Finance Framework: Theories and Practices
This session discusses the principles, framework, history, dynamic and contemporary development on Islamic public finance. It addresses key critical perspectives, practices and its development. It also supplemented with contemporary practices in Islamic public finance management.
Discussion Chair: Ali Sakti, Senior Analyst, Department of Islamic Economy and Finance, Bank Indonesia
Closing Remark Arief Wibisono, Assistant of Minister for Financial Services and Capital Market Policy and Regulation, Ministry of Finance
Closing MC
The Fiscal Policy Agency of the Ministry of Finance is hosting The 8th Annual Islamic Finance Conference. This event serves as a forum to discuss key issues and research related to Islamic public finance, finance, economics, and development, particularly in Indonesia. In collaboration with the Center for Islamic Economics and Business at the Faculty of Economics and Bussiness, University of Indonesia, we invite students, academics, and industry practitioners to submit high-quality work for this event.
Abstract Submission Deadline : 15 July, 2024
Announcement of 40 Selected Abstracts : 27 July, 2024
Extended Abstract (EA) Submission Deadline : 19 August, 2024
Announcement of the Selected 20 EA : 26 August, 2024
Full Paper Submission Deadline : 16 September, 2024
Presentation of Full Paper at the 8th AIFC : 2-3 October, 2024
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