Berita

Yogyakarta – Department of Development Economics, Faculty of Economics and Business, Universitas Muhammadiyah Yogyakarta for the fourth time held an International Conference on Islamic Economics and Financial Inclusion (4^th ICIEFI). This year, the conference theme was about finding a balance of aspects of innovation and aspects of sustainability. It cannot be denied that digitalization has become a trend and transformed the human lifestyle. For example, the existence of Go-Jek, Traveloka, Grab has provided a change in the way humans behave economically.
The issue of innovation and sustainability is interesting to learn because it brings aspects of opportunity and risk. The most important opportunity is the increasingly open access to markets in the context of facilitating economic transactions because the circulation of goods and services is connected to digital devices. Therefore, this requires aspects of sustainable innovation to be more efficient and competitive as human needs are increasingly complex. In Indonesia, fintech transactions grew 16.3% a year with a nominal value of USD 22,338 Billion (Fintech Report 2018). Especially, a population of more than 250 Million people, internet penetration above 100 Million people, active social media users above 100 million, and relatively stable economic growth of 5 percent per year, innovation in the technology sector will continue to grow rapidly.
On the other hand, the development of innovation gives a negative excess to the ecosystem of human life. Issues about cyber crime, money laundering, and financial integrity have become hot issues among policy makers. Therefore, the Financial Services Authority was formed in 2011 to measure these negative excesses, especially those related to consumer protection.
Finally, this conference is a media meeting of scholars from all over the world to discuss and be a solution on how to find a balance amid the rapid innovation while maintaining sustainability in terms of the continuity of existing fields, both in the financial and non-financial fields. As a form of attention to this issue, hundreds of papers will be presented from more than 10 countries from 30 to 31 July 2019 at the Muhammadiyah University of Yogyakarta Campus. Bank Indonesia and the Deposit Insurance Agency fully support the 4th ICIEFI by becoming sponsors and performers.