Guest Lecture Dr. Mohamed Aslam Haneef from International Islamic University Malaysia, Malaysia and discuss about Issues and Challenges of Contemporary Islamic Economics and Finance
IPIEF provides a forum for the students to study wider and have an active role in international activities. IPIEF provides a lot of places for each student to develop by opening a global perspective, such as providing learning facilities by inviting excellent guest lectures from various countries. On this occasion, IPIEF invited Prof. Dr. Mohamed Aslam Haneef from International Islamic University Malaysia who discussed the Issues and challenges of contempory Islamic economics and finance.
He explained about the Issues and challenges of contempory Islamic economic and finance.
It is Divided into 2 areas, there are :
- Islamic economic and finance Discipline :
- Need for engagement between our heritage and modern knowledge
- No need to reject everything from modern knowledge- no need to be build from zero-human civilization learns from each othe e.g. for Qur’an, the sunnah of prophet saw, muslim civilization
- Have qenuine, critical engagement
- Islamic economic and finance Practice :
- Transforming theory into policies/practixe the need for the 3P’S :
- Political will leadership that supports IEF development
- People not only leaders, but implementors and followers
- Policies-gradual approach bi’l hikmah
- Islamic economic and finance must solve the economic problems of the ummah e.g. poverty, corruption.
- Building Moderls, testing and feedback
Models must represent the values and requirements from Q.S and all other sources. Once we develop models we need to ‘ test’ them. Some testing is internal views of scholars and also is empirical. But sometimes if the models is nor the empirical test i.e. behaviour of people are contrary to the model, it is need action to corrct the model or change the behavior people.
He end the presentation and conclude the material if the Islamic economic and finance is a spectrum of thought and practice not only correct view for all places and times. It is need to re-evalute Islamic economic and finance models and practice to see of it has genuinely solved problems of the ummah.
Recording click here