Monday, 28 April 2014
Islamic Finance Project (IFP) of Harvard University recently held its biennial Islamic finance forum at its Campus on April 25-27. Held at the university's law school, Cambridge, Massachusetts, the 11th Forum on Islamic Finance focused on Takaful and alternative cooperative financial services. 43 invited research papers from more than 20 countries including United Kingdom, France, Bahrain, Malaysia, Indonesia, Australia, Jordan ,Germany, Egypt, Kazakhstan and the host United States of America have been presented at the forum which attracted more than 300 scholars, academicians, regulators and practitioners from across the globe.
At the forum, Dr. Sutan Emir Hidayat, an assistant professor at University College of Bahrain (UCB) presented his research paper (Co-authored with Dr. Raditya Sukmana) which entitles "Challenges and Opportunities in Developing Microtakaful in Muslim Majority Country. A Case Study of Indonesia". Dr. Nazim Ali, the IFP Director, commented " Dr. Sutan and Dr. Raditya's paper was received well by the attendees and generated some heated debate during the question and answer session.
Dr. Sutan said that his paper highlighted the importance of microtakaful (Islamic insurance for low income people) in helping Islamic microfinance institution to empower poor people. Dr. Sutan also said that his participation at the forum showed UCB's commitment toward academic research. The forum was also attended by UCB's Chairman and Founder H.E. Shaikh Dr. Khalid M. Al-Khalifa. Being the first university in the Middle East that offers Islamic finance program, UCB totally believes that the industry needs the support of higher leaning education providers to boost its growth. Here, UCB plays its vital role.