As part of the 3rd International Islamic Finance Olympiad (IIFO), held at KTO Karatay University in Konya, Turkey, from July 17–20, 2025, participants from various countries competed intensively in various prestigious competitions in Islamic economics and finance. One of the highlighted competitions was the Poster Competition, which showcased innovation, creativity, and the relevance of Islamic economic solutions to global issues through visual media and scientific argumentation.
In the competition, the Bronze Medal was won by Universitas Airlangga team with a poster titled "Enhancing Community Welfare in Villages through Sharia-Based Merah Putih Cooperative." The team consisted of three students from the Faculty of Economics and Business, Universitas Airlangga: Ayasha Dheiba Masudi (team leader - Islamic Economics 2022), Dixon Muhammad Djohan (Islamic Economics 2022), and Najwa Adinda Eufril (Islamic Economics 2023).
The award was given for their success in developing an integrated sharia cooperative concept that addresses various structural rural challenges such as poverty, rampant illegal lending, and low sharia financial inclusion and literacy. This innovation combines halal financing, productive zakat utilization, cooperative digitalization, and community-based MSME empowerment with Islamic values.
This concept was refined through a SWOT analysis approach that places key strengths on the holistic sharia model and regulatory support (Presidential Instruction No. 9 of 2025). Significant opportunities are linked to the potential of national zakat and village digitalization, while weaknesses and threats are strategically identified to formulate recommendations for program strengthening. Among the suggestions offered are financial literacy training, the establishment of village facilitators based on economic da'wah (Islamic outreach), and collaboration with sharia fintech companies and national zakat institutions.
"We don't just want to create a project that wins the competition, but also one that is truly relevant and provides solutions for village communities. KDMP is a form of our endeavor to combine science, Islamic values, and technology in building village independence," said Ayasha in an interview session. This achievement is not only a source of pride for Universitas Airlangga, especially the Faculty of Economics and Business of Airlangga University, but also proves that innovative ideas from the younger generation are able to make a real contribution to the development of a global, community-based sharia economy.
