The year 2012 dawned on us with astounding signs unfolding before our eyes pointing to a year that will witness the acceleration of negative economic and fiscal metrics, which plagued advanced and major emerging economies in 2011. In fact, many economists around the world are in consensus that Europe is entering a double-dip recession. Evidently, nations such as Greece, Ireland and Portugal are currently in a recession so deep, it meets the definition of a full-blown economic depression. Sovereign debt crises are now an established reality, biting poverty among nations that brought about the Arab Spring and occupy Wall Street in America are indicators of a failing world economy. Neither a continuation of failed policies nor trickery by politicians and central bankers will bring an end to the global economic crisis in 2012.
Over the last two years, Kuala Lumpur has played host to two annual conferences that had successfully identified the core cause of the global economic meltdown. The World Conference on Riba has assembled world renowned scholars, academicians, leaders and practitioners who convened to discus and deliberate on Riba. The unanimous consensus was that, an economy, which is deeply entrenched in Riba, would never be just and equitable to humankind. Riba is self-destructive such that the economic system is rendered unsustainable. Hence any measures taken to remedy the economic crisis utilizing current fundamentals and practices will fail, or at best provide only temporary solutions.
It is on this premise, that the organizers of the World Conference on Riba are convening the 3rd Annual World Conference on Riba. Amidst a stark world political and economic scenario, this year’s conference will confront issues both on a micro and a macro level. The organizers are firm in their belief that in order to surmount and surpass an economic catastrophe, our economic solutions must have high-level resilience, response that are hands-on and reforms which are real and just.
The annual World Conference on Riba is a premier conference that links Riba to most aspects of human problems of today. Our conference has attracted a wide variety of participants namely academicians, practitioners, scholars, leaders and as well as the general public from here in Malaysia and abroad. The theme of the current 3rd Annual World Conference on Riba is “The Multifaceted Global Crises of Riba’: Resilience, Response & Reform.”
- Resilience – facing the financial and economic uncertainty and minimizing damage through pragmatic measures
- Response – providing immediate responses that are just and equitable that could avert further economic and financial calamities
- Reform – heading towards a better future for all humanity, stable and sustainable through recognizing the different needs of stakeholders void of deceit and discrimination.
The 3rd Annual World Conference on Riba objectives are as follows:
- To forge links with individuals, organizations, societies and governments worldwide that would enable concerted efforts to be implemented in fighting Riba.
- To continue exposing the pitfalls of the current economic and financial systems both at micro and macro level.
- To persuade authorities worldwide in implementing steps that are practical and sustainable to remedy their individual economies.
- To encourage religious scholars to have a holistic approach in understanding Riba.
- To formulate strategies to educate the public in understanding Riba.
- To chart systematic ways to move forward hereon, to achieve the point where people can have the choice of a life without Riba – RIFCON.
Who should attend?
Leaders/Business Heads/CEO’s/Managing Directors/Sharia Scholars/Academicians/Government Officials/Policy Makers/ Bankers /Students/Public.