YOGYAKARTA, MENARA62.COM– 126 delegations from six countries will participate in the 4th International Conference on Islamic Economics and Financial Inclusion (ICIEFI), at Universitas Muhammadiyah Yogyakarta, Tuesday-Wednesday (30-31 July, 2019). They come from the United Kingdom, Japan, Taiwan, Philippines, Malaysia and Indonesia.

Dr. Imamudin Yuliadi, Head of Economics Department, Faculty of Economics and Business, Universitas Muhammadiyah Yogyakarta at the Technical Meeting ICIEFI on Monday (29/7) said that the conference which was held to fourth time to prepare the economic development in the digital era.

He explained, increased access to markets in the digital era, make it easy for transactions. Because the circulation of goods and services has been linked to digital technology. But on the otherhand emerged cybercrime, money laundering and others.

“However, in the disruption era besides needing innovation, it is needed to be guided by ethics. The economy is not free of values, it is necessary for mainstream ethics and the value of economic justice” said Imamudin Yuliadi.

Imamudin continued that fintech transactions in Indonesia grew 16.3% a year with a nominal USD 22.333 billion (Fintech Report 2018). At present, Indonesia has a population of more than 250 million people, internet penetration above 100 million people, active users of social media above 100 million. Medium economic growth is relatively stable at 5 percent per year. “This condition encourages innovation in the rapidly developing technology. Because of that, guidance on values ​​and adequate policies is needed.

Ahmad Ma’ruf, ICIEFI committee, said that UMY Economics Department held an international conference on Islamic economics and Financial Inclusion for the fourth time. Themed of this year  is to find a balance between innovation and sustainability.

“It is undeniable that digitalization has become a trend and transforming human lifestyles. The existence of online taxis (in the network), marketplaces and financial technology has given a change in the way humans behave in an economy”, said Ma’ruf.

Ma’ruf hoped that this international activity would become a media for academic person to meet. They are expected to discuss how to find the solutions about how to find a balance in rapid digital innovation and still maintain sustainability in the field of development.