Java Regional Sharia Economic Festival

8th East Java Economic Forum 2021

Encouraging Sharia Economics as a new source of growth and encouraging the acceleration of East Java's economic recovery.

The event on Monday, 28 September 2021 opened with remarks from the Dean of the Faculty of Economics and Business, Universitas Airlangga , Prof. Dr. Dian Agustia, Dra., Ak., M.Si., CMA., CA and from the chairman of the Surabaya branch of ISEI, the East Java coordinator, Dr. Eko Purwanto, SE, M.SI,.

At this event, two speakers were invited, namely Prof. Dr. Raditya Sukmana SE., MA and Abu Amar Fauzi, SS, MM Starting with material by Prof. Raditya Sukmana who discussed Optimizing Waqf in Accelerating East Java's Economic Recovery. In his presentation, he explained the potential assets in East Java that could be optimized using waqf, such as the East Java coastline which could be used to produce ocean wave-powered electricity.



It was also explained that he proposed to improve various commodities in terms of pricing using waqf. The APBN has been used too much for state development. By applying waqf to carry out development through the community, the impact will be extraordinary. The comparison between non-waqf-based financing and waqf-based financing lies in the results that will be shared with the funders. Waqf-based financing results in 0% fees for waqif because it is waqf-based. With lower costs, the output from the recipient of the financing or MSMEs can be lower. In other words, it can produce products at competitive prices.

 

The second material was delivered by Mr. Abu who discussed digitalization efforts to encourage sharia economics and finance in East Java. It was explained that there are three dimensions of the role of digitalization, namely business inclusion, business optimization and business activation. Digitalization in Indonesia is not yet evenly distributed, there are those who can adapt to this change. There are also those who are hampered by this change, such as the usual high cost of internet or wifi, unstable networks and lack of knowledge about the digital world.

Mr. Abu explained that the solution for Indonesia regarding the above problem is increasing connectivity in the form of development and improving infrastructure and establishing healthy competition between internet providers.