About IslamicEFRG
The Islamic Economics and Finance Research Team (IslamicEFRG) is committed to advancing the field of Islamic economics and finance. Our mission is to address critical global challenges through innovative research rooted in Islamic principles. The team integrates interdisciplinary approaches to promote sustainability, inclusivity, and ethical practices in economics and finance, aligning with the maqasid ash-shariah. By fostering collaboration with academics, industry experts, and policymakers, we strive to create impactful contributions that benefit communities worldwide.
Our Mission
Our mission is to conduct transformative research that bridges traditional Islamic values with contemporary economic and financial systems, promoting sustainability, social equity, and innovation. By addressing critical global challenges and empowering communities through education and collaboration, we aim to enhance financial literacy, foster inclusivity, and contribute to the sustainable development of Islamic economics and finance.
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Research Sub-Themes
Sustainability and Ethical Finance
Islamic finance plays a pivotal role in achieving sustainability by aligning financial activities with environmental and social responsibility, guided by the principles of maqasid ash-shariah. This includes practical applications of Islamic social finance tools such as zakat, waqf, and sadaqah, which are leveraged to address societal challenges. Additionally, our work focuses on developing and integrating halal ecosystems to create ethical, inclusive, and sustainable value chains that support global economic growth.
Innovation and Digital Transformation
Innovation and digital transformation are reshaping Islamic finance by leveraging fintech and digital platforms to enhance accessibility and efficiency while maintaining Shariah compliance. This includes the development of innovative financial products and services that cater to diverse needs and market segments. Our research also emphasizes harmonizing and standardizing fatwa to support the global adoption of Shariah-compliant digital solutions, ensuring consistent and reliable frameworks for implementation across regions.
Governance and Inclusion
Governance and inclusion are central to ensuring the integrity and accessibility of Islamic financial systems. Our research explores Shariah governance frameworks to enhance accountability and ethical compliance within financial institutions. This includes the development of Shariah audit and assurance systems that ensure transparency and trust. Additionally, we focus on harmonizing and standardizing fatwa to promote consistency across jurisdictions, facilitating the global growth of Islamic finance. Our efforts also prioritize enhancing financial literacy and promoting Islamic financial inclusion, ensuring that underserved populations have access to ethical and equitable financial services.
As a united team, we share a deep passion for exploring and advancing Islamic economics and finance. We are committed to delivering innovative solutions to support sustainability and efficiency in promoting economic systems based on Islamic principles.
Prof. Dr. Abdul Hamid Habbe, SE., M.Si
IslamicEFRG Leader
Mahbubi Ali
External Researcher
Faisal Abdullah
External Lecturer