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Setif, Algeria, 13 May 2025: INCEIF University PCEO Professor Emeritus Dato’ Dr Azmi Omar, delivered the welcoming address at the 16th International Conference on Islamic Economics and Finance (ICIEF), held today at Setif 1 University, Algeria.
Themed “Islamic Financial Industry After Fifty Years of Practice”, the event – considered a unique space where scholarly research and policy dialogue converge to shape the future of Islamic finance – gathered renowned academics, policymakers, and financial leaders from across the Muslim world.
In his address, Dato’ Azmi reaffirmed the role of the ICIEF as a key platform to strengthen the intellectual and practical foundations of Islamic economics.
Representing the International Association for Islamic Economics (IAIE), he highlighted the importance of reflecting on the journey since the first ICIEF in Makkah in 1976, which marked the formal beginning of Islamic economics as a discipline. He emphasised the need to revisit its foundational objectives to ensure the Islamic finance industry remains faithful to the Maqasid al-Shariah — promoting justice, equity, and social well-being.
Citing Malaysia’s leadership in Islamic finance, Dato’ Azmi presented the country’s comprehensive four-phase journey:
- Building foundational institutions
- Mainstreaming Islamic finance
- Driving diversification and innovation, and
- Advancing value-based impact finance.
He noted that Malaysia’s Islamic finance ecosystem, supported by clear regulatory frameworks and talent development institutions such as INCEIF, has become a model for the global industry.
Dato’ Azmi’s address also reflected INCEIF’s mission to develop world-class talent and research that advances Islamic finance for the benefit of humanity. INCEIF remains committed to its vision of becoming a leading knowledge authority in Islamic finance that inspires ethical, inclusive, and sustainable financial systems worldwide.
He concluded by thanking Setif 1 University and the organising committees for hosting the conference, and prayed for the event’s discussions to lead to actionable outcomes that uplift communities and economies globally.
Ends.