Fadia Al-Otaibi - Scholars of Sharia, researchers, and specialist experts at the University of Jordan today discussed ways to advance research and specialized studies in Islamic economics and its objectives in terms of identifying topics and highlighting the rulings that have priority in the topics of Islamic economics and finance that serve the needs of Islamic financial institutions, which would highlight new and serious economic and objectives ideas that can be used in contemporary scientific research and studies.
This came during the scientific seminar organized by the Faculty of Sharia at the university and the Al-Baraka Forum for Islamic Economics, entitled “Towards pioneering studies and research in Islamic economics and its objectives,” under the patronage of the university president, Dr. Nadhir Obeidat, and in the presence of a number of professors, vice presidents, deans of faculties, university officials, and students of the faculty.
The symposium, which included the participation of scholars, researchers, academics and experts specializing in Islamic economics and banking, aimed to improve scientific research in the field of Islamic economics and finance, guide researchers to knowledge areas with a global dimension in the field of Islamic economics and finance, and also deepen the economic awareness of objectives among researchers and postgraduate students, in addition to bringing the outputs of scientific research closer to the needs of Islamic financial institutions.
During his opening remarks at the symposium, Obaidat said: “Islamic economics has been promoted in previous decades in a natural and emotional way, so that ethical Islamic economic concepts and ideas have become rich in the sacred halls within academic circles. We find it driven more by cultural identity than by a genuine desire to solve problems, which has led it to adopt narrow approaches that focused on banking and finance services, and have not risen to the level of being a comprehensive system that deals with various challenges.”
He explained that progress in achieving the Sustainable Development Goals and climate goals requires us to utilize our diverse thinking and resources to devise innovative solutions to the world's problems, noting that there is great potential to increase the use of Islamic finance in achieving the Sustainable Development Goals and climate goals, based on the basic principles of Islamic finance. However, so far, less than 1% of these funds have been linked to green and sustainable activities.
Obaidat stressed the need for us to review ourselves in order to create a future in which we prove to the world that we have a great legacy, and that, just as we impressed the world in the past, we are capable of forcing the world to respect us as researchers, academics, economists, and innovators.
For his part, the Secretary-General of the Al Baraka Forum for Islamic Economics, Sheikh Yousef Al-Khalawi, said: “We are meeting today at the launch of an important series of seminars that, in their objectives, form part of the Forum’s mission of developing and promoting the Islamic economy globally. He pointed out that Jordan, in his opinion, constitutes a regional platform and is considered one of the first countries from which the Islamic economy was launched, not only through Islamic banking, but in the sense that includes the tools of the Islamic economy. Also, the first five Islamic banks in the world were established in Jordan, in addition to the importance and status of scientific research in Jordan, which ranks among the top five countries in scientific production.”
Al-Khalawi emphasized, while discussing the Sheikh Saleh Kamel Award for Digital Economy, that there is no institution more prestigious than the University of Jordan to launch such a global award, which is being launched for the first time in Jordan, and through the University of Jordan platform. He attributed this to the presence of strong partners such as the Faculty of Sharia, along with a number of Islamic banking institutions, and called for the necessity of working together and for cooperation with the University of Jordan to be the nucleus of a global partnership, which would achieve the forum’s mature vision and reach a promising future.
While the Dean of the Faculty of Sharia, Dr. Abdul Rahman Al-Kilani, affirmed that improving scientific research and achieving leadership and innovation in it is a religious duty and a religious responsibility, in addition to being an ethical, scientific and academic responsibility, noting that there is still a pressing need for pioneering scientific studies that contribute to the production of knowledge, achieve creativity and renewal, and are characterized by excellence and innovation, despite the growth of contemporary scientific studies in the cognitive fields of Islamic Sharia sciences.
He said that the true value of scientific research lies in the ideas, opinions, and results it produces that are related to life and reality issues, and that participate in addressing social and humanitarian issues, tackling complex life problems, and providing appropriate solutions and alternatives that achieve people's interests. He stressed that the world today is in dire need of pioneering economic studies that offer innovative solutions and incorporate the system of Islamic values in addressing the problems that human societies and peoples suffer from, especially since voices have emerged today calling for the incorporation of human values into the world of economics through titles that clearly express the need to instill a moral spirit in economic activities, and reflect the moral crises that the world of economics is experiencing, which require treatment and reform.
The scientific symposium witnessed the announcement of the launch of the Sheikh Saleh Kamel Award for Islamic Economics, the largest global award launched for the first time in Jordan from the University of Jordan, as part of the opening ceremony of the symposium activities, and introducing the award, which aims to promote research and innovation in the field of Islamic economics, and to encourage more research and studies that contribute to the development of Islamic economic thought.
During his presentation of the award, Dr. Fadi Al-Jabour, a professor at the College of Sharia at the university, said that the award was established in appreciation of the contributions of Sheikh Saleh Kamel, one of the most prominent businessmen and supporters of the Islamic economy. It is awarded annually to honor creative young researchers who have made outstanding and influential contributions to the development of the Islamic economy and the promotion of its principles. He explained that the award is the only one of its kind in the entire world that seeks to present the scholars of the future, as it is awarded annually to four male and female researchers, and the total value of its prizes reaches (one million riyals) annually.
The symposium included a scientific session chaired by the Dean of the Faculty of Sharia at Yarmouk University, Dr. Muhammad Al-Talafha, which discussed a number of topics whose themes contribute to consolidating the symposium’s objectives and advancing the scientific research system in the field of Islamic economics, presented by a number of participating researchers and specialists.
Dr. Ali Abu Al-Ezz, Head of the Sharia Audit Department at the Islamic Bank of Jordan, addressed the topic of “The Needs of Islamic Financial Institutions from Research Institutions” in his research paper. Dr. Ahmed Abu Sarhan, Head of the Department of Islamic Banking at the University of Jordan, spoke in his intervention about “The Scientific Standards for Pioneering Studies in the Field of Contemporary Financial Transactions Jurisprudence.” Dr. Raed Abu Mounis, Head of the Department of Jurisprudence and its Principles at the University of Jordan, presented the topic of “Leadership and Innovation in Islamic Financial Products.” Dr. Munir Maher, Assistant Dean of the Faculty of Sharia for International Classification, Accreditation and Graduate Affairs at the University of Jordan, also highlighted in his paper the requirements for publishing scientific research in Islamic economics and finance in high-ranking journals.
On the sidelines of the symposium, a workshop entitled “Towards Activating the Objectives of Islamic Economics in Contemporary Societies” was held, in which Dr. Abdul Nasser Hamdan Bayoumi, Director of the Al-Maqasid Foundation - Al-Baraka Forum for Islamic Economics, and Dr. Hayam Al-Zaidanin Al-Saoudi, a faculty member in the Department of Islamic Banking at the Faculty of Sharia at the University of Jordan, participated.