UIII Hosts ICMWEB 2024 on Sustainable Finance Amid Global Volatility

UIII, DEPOK - The Faculty of Economics and Business at Universitas Islam Internasional Indonesia (UIII) successfully organized the 3rd International Conference on Muslim World Economy and Business (ICMWEB) 2024 on May 7-8, 2024, addressing the issue of “Sustainable Finance Amid Global Volatility.”

The inaugural event was festive, witnessing notable delegates from numerous institutions, including the National Sharia Economic and Financial Committee (KNEKS), UNDP Indonesia, state-owned enterprises PT Pertamina, PT Kereta Api Indonesia, Bank Syariah Indonesia, as well as Ethis Global.

In introducing the conference’s theme, Prof. Dian Masyita, the Dean of UIII’s Faculty of Economics and Business, highlighted that in a world marked by unprecedented challenges and uncertainties, the need for sustainable finance has never been more pressing, primarily driven by the convergence of environmental degradation, social inequality, and economic volatility.

“Today, we stand at a crossroads, where the decisions we make will not only shape the trajectory of our economies but will also determine the well-being of generations to come […] The theme of our conference speaks to the heart of this challenge,” Prof. Masyita noted. 

Meanwhile, the Rector of UIII, Prof. Jamhari, stressed that the current global economy navigates a delicate equilibrium between recovery and uncertainty. In recovery, many nations are progressing toward economic renewal after the COVID-19 pandemic. However, uncertainty evolves as challenges such as supply chain disruptions, inflation, and geopolitical tensions persist.

“[Hence] learning about sustainable finance and practices becomes crucial as they offer pathways to navigate these challenges and sustain the future,” Prof. Jamhari remarked.

ICMWEB 2024 featured several speakers, including Drs. Dindin Wahyudin, the expert staff member for economic diplomacy for Indonesia’s Minister of Foreign Affairs; Prof. Adel Mohammed Yaslam Sarea from Ahlia University, Bahrain; Prof. Dr. Mansor H. Ibrahim from INCEIF University, Malaysia; Amber Jamil from the International Organization, and Umar Munshi from Ethis Global.

Additionally, the conference attracted around 101 scientific works, but only 20 papers were selected for presentation. These represent various countries, including Bahrain, Pakistan, and Malaysia.

Dr. Rizky Wisnoentoro, as the head of the committee, explained that the main inquiries posed in the conference lay in the term “transition,” saying that "this might be one meaningful semantic to designate the current global condition that intrigues deeper questions about human civilization in the future".

ICMWEB 2024 represents UIII’s commitment to contribute in solving the world’s challenges in sustainability. UIII’s Faculty of Economics and Business has focused its educational objectives on—among others—sustainability by offering, for instance, the M.Fin in Sustainable Finance program, as well as MA and PhD in Economics. 

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