REPUBLIKA.CO.ID, YOGYAKARTA -- The Ministry of Finance held the Second Annual Islamic Finance Conference (AIFC) titled "the Role of Islamic Finance in Eradicating Poverty and Income Inequality."

"The topic represents the socio-economic challenges that are being faced by developing countries. In Indonesia, poverty and inequality are still the main issues that need attention," Finance Ministry's Fiscal Policy Office (BKF) head Suahasil Nazara said here on Wednesday.

The conference will be conducted for two days from August 23 to 24, 2017, at the Royal Ambarrukmo Hotel, Yogyakarta, Indonesia.

The main objective of the conference is to promote discussion on the application of theory, model, and instruments of Islamic finance to overcome socio-economic problems in developing countries, including Indonesia. Furthermore, the conference aims to discuss a set of policies combined with the principles of Islamic finance that can tackle poverty and problems of income inequality.

He noted that sharia economy was similar to an investment that has social responsibility. The objectives of Islamic finance are also assessed in line with indicators and targets in Sustainable Development Goals (SDGs).

The agenda will consider the views of speakers coming from referral countries, multinational institutions, and universities.

The seminar is expected to explain the application of sharia economic model, such as zakat (alms), waqf (Islamic endowment), to overcome poverty and problems of income inequality.

Leading experts in the field of economic development and Islamic finance, from both international and local, will share their knowledge and experiences at this conference.

Specifically, the proposed speakers are high-profile persons from multilateral development agencies, academics, government agencies, regulators, and financial institutions.

The Ministry of Finance, in cooperation with the Islamic Research and Training Institute and the Islamic Development Bank Group (IRTI-IDBG), the National Islamic Finance Committee (KNKS), and the Indonesian Association of Islamic Economist (IAEI), is the organizer of this conference.

This conference is also supported by the World Bank Jakarta and the Faculty of Economics and Business, Gadjah Mada University.

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