Conference on Islamic Monetary Economics and Institutions: Theory and Practice 2017

A two day conference on Islamic Monetory Economics and Institutions, commenced today at STELCO conference hall. The conference was inaugurated by the Minister of Fisheries and Agriculture, Dr Mohamed  Shainee. This conference is jointly organised by Maldives Center for Islamic Finance (MCIF) and the Islamic Research and Training Institute of Islamic Development Bank (IRTI-IDB). Scholars from more than fifteen countries will be presenting various research papers on Islamic Monetory Economics and dual banking systems during the 2 days. .

At the inauguration ceremony, chief guest Dr Shainee  highlighted that President Yameen Abdul Gayyoom’s government is the only government in the history of Maldives who has fully supported the creation of a full-fledged Islamic finance system and that a key pledge made by the current government is to embark on an ambitious agenda to transform the economy in order to ensure a more resilient and prosperous future for the country. As such, the president has under a decree setup MCIF, a  hundred percent government owned entity to strategize Maldives as the hub for Islamic finance in South Asia, Minister Shainee also talked about the government’s plan to utilize Fintech in the financial and economic system and proposed that further research in the field of  Blockchain Technology and Crypto currency are needed for  better usage of it in the country’s economic and finance system. Dr Shainee  before concluding  his speech, commended and encouraged MCIF and IRTI-IDB to continue such research based initiatives and activities.

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