Third International Conference on Islamic Economics

Abstract

The Third International Conference on Islamic Economics was held in Kuala Lumpur, Malaysia, during 23-25 Rajah 1412/28-30 January 1992 under the auspices of Malaysia's International Islamic University (IIU) and in collaboration with the Islamic Development Bank (IDB) and the International Association of Islamic Economics (IAIE). In his welcome address, 'AbdulHamid AbiiSulayman, rector, IIU, Kuala Lumpur, Malaysia, stressed that Islam provides an alternative to the economic system of the West and its reformed model, Marxism, which has collapsed. The conference was opened by Datuk Sri Anwar Ibrahim, finance minister of Malaysia, and was concluded by Datuk Amar Dr. Sulaiman Hj. Daud, education minister of Malaysia. While recognizing the importance of implementing Islamic principles in areas such as trade and finance, Anwar Ibrahim felt that efforts to promote growth and generate wealth are more pressing. He stressed the need for creating wealth to eradicate poverty, a pivotal concern of Islamic economics. Datuk Daud emphasized that institutions of higher learning should develop rigorous and meaningful analytical tools comparable with Western ...