(February, 13th 2023) Faculty of Economics Universitas Muhammadiyah Semarang organized International Seminar 3rd I-CoBES “The Role of Islamic Finance and Management in Post Pandemic Economic Stability”
The Novel Coronavirus, also known as the COVID-19, is derived from the Latin Corona which means “crown” or “wreath”. This virus has already disrupted the composition of life and the economic consequences brought by the virus are really hard to measure; it will be matter of research for future researchers, academic institutions, governments, and policymakers. In a situation of high uncertainty and uneven impacts, it remains a matter of debate how the recovery will look and how much time it will take to recover from the economic damages done by the pandemic.
The recovery post COVID is going to be huge and Islamic Financial Institutions are going to play a key role, as it played during the recovery post financial crisis of 2008. Islamic finance is the only financial system in the world, the principles of which are based on ethics and morality. It is the financial system which ensures community participation, social and economic stability, promotes financial inclusion, and supports and encourages comprehensive human development. Islamic finance places great importance on improving quality of life, equal distribution of income, and social justice for everyone.
The dream of economic stability through Islamic financial and management system, market required to add more areas which require attention from researchers and policymakers to maintain its steady growth. This International Seminar help us to understand how to fight the economic consequences of the COVID-19 pandemic.
