Jakarta, May 27, 2024 - The Sharia Economics Study Program at UIN Syarif Hidayatullah Jakarta hosted an enlightening International Guest Lecturer under the theme "Islamic Finance in Bahrain: Present Dynamics and Future Directions." Dr. Muhammad Rizky Prima Sakti, Head of Business Administration Department at the University College of Bahrain, graced the virtual lecture as the esteemed speaker.

The event, explained as part of the program's Visiting Lecturer initiative, aimed to foster international academic collaboration and enrich the understanding of Islamic finance within the global economic landscape. Ali Rama, PhD, Head of Shariah Economics Study Program, moderated the session.

Dr. Rizky's discourse delved into the intricacies of Bahrain's economy, delineating its position within the global, regional, and GCC economic spheres. Of particular significance was Bahrain's pivotal role as the epicentre for various global Islamic financial standard-setting institutions, including AAOIFI, IIFM, CIBAFI, and IIRA, as highlighted by Dr. Rizky during his presentation.

Moreover, Dr. Rizky elucidated Bahrain's visionary shift from a "Brown Economy," reliant on fossil fuels and oil exports, to a sustainable "Green Economy." This transition aligns with the burgeoning field of Islamic finance, especially in mobilizing financial resources for green projects, such as through the issuance of green sukuk.

In his closing remarks, Ali Rama, PhD expressed hope for future collaborations between the Business Administration Department of University College of Bahrain and the Shariah Economics Study Program at UIN Syarif Hidayatullah Jakarta, spanning research endeavours and faculty and student exchanges.

The International Guest Lecture served as a testament to the ongoing commitment of both institutions to academic excellence and cross-cultural cooperation in advancing the discourse on Islamic finance and sustainable economic development.