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Bangkok, 21 July, 2025 – The ethical dilemma of al-i‘anah ‘ala al-ma‘siyah (the principle of avoiding complicity in prohibited activities) took centre stage at the 19th Muzakarah Cendekiawan Syariah Nusantara (MUZAKARAH2025).
As Islamic finance expands globally, the challenge of ensuring financial products and services remain free from elements deemed impermissible under Shariah law has become increasingly complex. At this year’s gathering, held from 15 to 17 July 2025 in Bangkok, scholars and practitioners from across the Nusantara region debated the modern-day application of this principle, particularly in areas such as investment portfolios, fintech innovations, and cross-border financial transactions.
Organised by ISRA Institute, the research arm of INCEIF University, in collaboration with Prince of Songkla University, the event drew over 280 participants, including Shariah scholars, financial regulators, industry practitioners, and academics from Malaysia, Indonesia, Thailand, Brunei, and Singapore. A total of 27 experts presented scholarly and practical insights over two days, with a focus on real-world application beyond theoretical debate.
A one-day Masterclass on `Advanced Training: Methodologies of Deriving Fatwas in Fiqh al-Mu‘amalat’ was held a day prior to the main conference. The sessions were conducted by INCEIF Faculty Member and Shariah scholar Datuk Prof Mohamad Akram Laldin and ISRA Institute Consultant Mr Muhammad Izzam Mohd Khazar.
MUZAKARAH2025, themed ‘Transforming a Comprehensive Islamic Financial System’, also explored other pressing topics including money creation and deemed consent from both the Shariah and legal standpoints, reflecting the evolving realities of Islamic financial governance in a digitally connected, globalised world.
The conference was officiated by Police Colonel Tawee Sodsong, Thailand’s Minister of Justice, underscoring Thailand’s commitment to nurturing Islamic finance within its multicultural society. In his address, he said: “This Muzakarah is not merely an academic conference. It is a vital platform that brings together knowledge systems rooted in both majority-Muslim and minority-Muslim contexts. It serves as a bridge of intellectual exchange, collaborative synergy, and shared hope for the future of an ethical and faith-based economic system.”
Al-Fadhil Syeikh Arun Boonchom, Sheikhul Islam of Thailand, delivered a keynote titled “Integrated Reform of Islamic Finance in the Context of Thailand,” calling for strengthened laws, public education, and greater collaboration between domestic and international Islamic financial institutions.
He said: “Strengthening Islamic finance in Thailand requires joint efforts from various stakeholders. This includes improving laws and regulations, building skilled professionals, increasing public awareness, and promoting cooperation between local and international Islamic financial institutions.”
Dato’ Syeikh Haji Zakaria Othman, CEO of Lembaga Zakat Negeri Kedah (LZNK), Malaysia, highlighted how zakat, waqf, and sedekah must be integrated as part of a broader, ethical Islamic finance ecosystem. He shared successful models and reforms implemented by LZNK which have positively impacted underserved communities in Malaysia.
LZNK is the main sponsor of MUZAKARAH2025.
The Muzakarah continues to serve as a unifying platform for harmonising fatwas across jurisdictions to reduce legal uncertainty in cross-border Islamic finance, and strengthening Shariah governance frameworks to meet the expectations of both regulators and communities.
The organisers expressed their deepest gratitude to the sponsors and strategic partners including:
- The Office of Sheikhul Islam Thailand
- Embassy of Malaysia, Bangkok
- LZNK (Platinum Sponsor)
- Islamic Bank of Thailand (Gold Sponsor)
- Supporting institutions such as Shoraka, Association of Shariah Advisors in Islamic Finance, ISRA Consulting, Co-op Bank Pertama, Gabungan Koperasi Islam Thailand, and PIT Takaful.
As Islamic finance navigates new frontiers, MUZAKARAH2025 reaffirmed its critical role as a regional intellectual engine; building bridges, fostering consensus, and guiding the future of Shariah-compliant financial systems.
The event organisers are hopeful that MUZAKARAH will continue to serve as a primary platform for uniting scholarly thought, harmonising fatwas, and strengthening Shariah governance for the advancement of an integrated Islamic financial industry in the Nusantara region.
Ends.
*The event was covered by Media Islam, Repulika Online and Detik Satu.