The field of Islamic finance has undergone a remarkable transformation since its inception, thanks to the contributions of scholars from different generations who actively participated in its development. The first generation of scholars played a crucial role in establishing the foundation of Islamic finance, formulating theoretical frameworks, and providing guidelines for Islamic financial transactions. They placed great emphasis on principles such as social justice, distributive justice, and economic stability, laying the groundwork for subsequent advancements.
As subsequent generations built upon the work of their predecessors, their focus shifted towards developing innovative financial instruments and products that complied with Islamic principles. These efforts were instrumental in establishing the Islamic finance industry and its supporting infrastructure. By creating financial tools that adhered to the tenets of Islamic law, these scholars ensured that Islamic finance could operate in a manner consistent with religious guidelines.
However, in light of the global financial instabilities and socio-economic challenges, it has become imperative to redirect the focus of Islamic finance towards addressing contemporary issues. This can be achieved by integrating emerging technologies and remaining steadfast in upholding the ethical and moral principles of Islamic finance. By doing so, the field can create new financial products and services that provide tangible and meaningful solutions to these challenges. With its steadfast commitment to ethical and moral principles, Islamic finance has the potential to offer a unique and sustainable approach to finance, contributing to the construction of a more equitable and just global economy that benefits individuals and communities worldwide.
Furthermore, the need for ethical and sustainable financial systems has become even more pronounced considering the current global financial uncertainties, such as bank failures and instabilities. Islamic finance offers a distinctive perspective on finance by prioritizing ethical and moral values, including social responsibility and distributive justice. By incorporating these values into its practices, Islamic finance can contribute to building a more stable and equitable global economy.
To further advance the field of Islamic finance and address these pressing issues, the 6th International Conference on Islamic Finance (ICIF) aims to provide a platform for scholars, researchers, and practitioners to engage in discussions about the latest developments and challenges in the field. The conference theme, "Advancing Ethical and Sustainable Economy: Islamic Finance Solutions for Environmental, Social, & Economic Challenges in the Digital Age," underscores the importance of integrating emerging technologies with Islamic finance to devise innovative solutions to contemporary problems.
The conference will cover a wide array of topics, ranging from the role of Islamic finance in tackling environmental challenges to the impact of emerging technologies on the field. Researchers, academics, practitioners, and policymakers are encouraged to submit their original research papers and case studies aligned with the conference theme. By fostering a collaborative environment, the conference endeavors to make significant contributions to the advancement of Islamic finance and offer valuable insights into how it can effectively address some of the most pressing challenges confronting the global economy.
It is with great pleasure and excitement that I welcome you to the 6th International Conference on Islamic Finance (ICIF), organized by the Center for Islamic Economics and Finance at the College of Islamic Studies, Hamad Bin Khalifa University. As the conference chair, I am honored to extend my warmest greetings to all scholars, researchers, and practitioners who share a passion for advancing the field of Islamic finance.
Our conference theme, "Advancing Ethical and Sustainable Economy: Islamic Finance Solutions for Environmental, Social, & Economic Challenges in the Digital Age," underscores the importance of embracing emerging technologies while staying true to our ethical values. Together, we will explore the role of Islamic finance in tackling environmental challenges, harnessing the potential of digital advancements, and contributing to a more equitable and just global economy.
I invite all interested stakeholders to actively participate in the conference by submitting original research papers or case studies aligned with the conference theme. This collaborative environment will provide an opportunity for fruitful discussions, insightful presentations, and valuable exchanges of ideas, fostering collaboration among participants. Most importantly, it will allow us to share valuable insights and make significant contributions to the advancement of Islamic finance.
I look forward to engaging discussions, intellectual enrichment, and the forging of lasting connections during this conference. Let us collectively explore the frontiers of Islamic finance and pave the way for a brighter future.
Dr. Syed Nazim Ali
Conference Chair, 6th International Conference on Islamic Finance
Director of Research Division & Center of Islamic Economics and Finance
College of Islamic Studies, Hamad Bin Khalifa University