His Excellency Prof. Koutoub Moustapha Sano, Secretary General of the International Islamic Fiqh Academy (IIFA), opened on Tuesday, 20 Rabi’ al-Awwal 1443H corresponding to October 26, 2021G, the International Conference on Islamic Social Finance from a Fiqh Perspective under the slogan of strengthening Indonesia’s position to become a global center for Islamic social finance.

The welcoming speech of the conference was presented by Dr. Marsudi Syuhud, Chairman of the Indonesian Ulema Council, who praised the role played by the Academy through partnership with the organizers to hold this important conference, in addition to the Academy’s scholars participating in the conference, led by His Excellency Prof. Koutoub Sano, which represents a real impetus to the conference, and an enrichment of discussions and ideas in order to consolidate the concept of Islamic social finance and make it an effective means to serve the Islamic economy in Indonesia and other Muslim countries.

In his speech, His Excellency the Secretary General of the Academy expressed his happiness to participate in this conference by delivering the opening speech, and he also expressed his pleasure in the partnership that brought the Academy together with the Indonesian Ulema Council and the Central Bank of Indonesia to organize this event, wishing for more cooperation and coordination with all the relevant authorities within the member states of the Organization of Islamic Cooperation (OIC), in order for them to benefit from the scientific expertise of the Academy and its vast capabilities to achieve their goals and serve Muslims all over the world.

His Excellency also called on scholars and researchers in the field of Islamic finance and economics to give the issue of Islamic social finance its due diligence and scrutiny because of its profound impact on our societies and the economic solutions it can provide to many chronic problems such as poverty, disease, and ignorance. His Excellency added that the Islamic social finance institutions include a number of institutions well-established in Islam, such as the Zakat foundation, waqf, alms, vows & penances, and wills, noting in this regard the importance of using these institutions to combat poverty and ensure a fair redistribution of wealth that includes all segments of society, especially those marginalized, who are in dire need of support and assistance.

His Excellency pointed out the importance of the Republic of Indonesia’s adoption of the project to promote Islamic social finance by enhancing interest in it, developing its institutions and introducing its importance, in a drive to demonstrate Indonesia’s standing among OIC member states, a position that qualifies it to be a global center for this financing and a beacon guiding the rest of the Muslim countries in order to provide radical solutions to the problem of poverty and destitution that is sweeping our Muslim world and Muslim communities everywhere. His Excellency then indicated that Indonesia’s social infrastructure and its human and natural resources qualify it to play this role.

Also participated in this opening session, H.E. Dr. Marouf Amin, Vice President of the Republic of Indonesia, and H.E. Dr. Zain Al-Tawhid Saadi, Undersecretary of the Ministry of Religious Affairs.