14TH MUZAKARAH CENDEKIAWAN SYARIAH NUSANTARA (MUZAKARAH-14)

May 6, 2021

The International Shari’ah Research Academy for Islamic Finance (ISRA) successfully organised the Muzakarah Cendekiawan Syariah Nusantara ke-14 (14th Regional Shari’ah Scholars Dialogue) or MUZAKARAH-14 on the 13th–14th October 2020 via Zoom with the theme of ‘Contemporary Islamic Finance: Reflection & Innovation’.

The event was attended by more than 230 participants from Malaysia, Indonesia, Brunei, Singapore, Thailand, United Kingdom, and the United Arab Emirates. MUZAKARAH-14 was the first MUZAKARAH held virtually and the first to have English translation.

MUZAKARAH-14 was officiated by Datuk Shaik Abdul Rasheed Abdul Ghaffour, Deputy Governor of Bank Negara Malaysia. He emphasized that there are two important aspects in facing crises, especially with the reality of the COVID-19 pandemic; Shariah principles are made key considerations in the face of crises and, digital platforms are important components in the recovery and regeneration of the new economy. Then the welcoming remarks was delivered by Prof. Dr. Mohamad Akram Laldin, Executive Director of ISRA.

There were four sessions featuring scholars and practitioners from around the region. The first session began with a presentation of “Issues in Existing Islamic Finance Products – Ujrah-based Islamic Credit Cards” followed by the topic of “Shariah and Operational Issues in The Use of Leverage Model in Islamic Banking Subsidiaries”.

The second day of MUZAKARAH-14 kicked off with the third session, “Shariah Issues in Product Innovation”. The final session discussed the Challenges and Solutions in Islamic Finance Post Covid-19. The program then concluded with a closing remark by Prof. Dr. Ashraf Md Hashim, CEO of ISRA Consulting.

MUZAKARAH-14 DAY 1 : Welcoming remark