“The Riba Conundrum: Impartial Outlook from Accounting, Legal and Religious Perspectives”
As a sequence to the highly successful 1st World Conference on Riba that was held in Kuala Lumpur on the 1st and 2nd November, 2010, Thinkers Trends Resources in collaboration with the Department of Finance, Kulliyyah of Applied Economics and Management Sciences, International Islamic University Malaysia and International Islamic University College Selangor (KUIS) is pleased to announce the organizing of the 2nd World Conference on Riba to be held on the 26th and 27th July, 2011 in Kuala Lumpur, Malaysia.
Conference Objectives
The conference objectives are as follows:
- To continue the discussion on the issue of Riba in an attempt to get to the core of its meaning – from religious, scientific and economic perspectives
- To attain a wider consensus on the meaning of Riba among scholars, policy makers and the masses
- To get more participation from all - the intellectual, business community and the government - to discuss this pertinent issue of Riba that many blame for the current global economic and political turmoil
- To discuss in-depth on the relationship between accounting standards and Riba; and what can be done to mitigate the issue.
- To discuss in detail the issue of legal tender, involving parties like Ministry of Finance, Bank Negara Malaysia and intellectuals, to enlighten the masses on the issue.
- To discuss the links between Accounting Standards and Riba
- To network global communities to address the Riba issue.
- To chart systematic ways to move forward hereon, to achieve the point where people can have the choice of a life without Riba – RIFCON
Conference Highlights
The 2nd World Conference on Riba will attempt to unravel three core areas that are crucial in addressing the Riba issue. Chief among them is the accounting standards. Riba masquerades in the accounting standards and is legally accepted by everybody. Hence, it is pertinent that the accounting standards are relooked at objectively. Second is the issue of legal tender. The legal tender law in many countries has given credence to fiat money and has somewhat prohibited commodity based and community currencies from being used by the public. The failure of fiat money system is blamed for the hyperinflation in global food prices which is now wreaking havoc in many countries, including India and northern African countries. Third is the issue of Riba and its correct interpretation according to Islam. The anomaly among the scholars of Islam in interpreting Riba must end. The conference will aim to bring a common understanding of Riba that will be accepted by the ummah at large.
Who Should Attend
- Leaders/Business Heads/CEO’s/ Managing Directors
- Shariah Scholars/Academicians/Government Officials/Policy Makers/Bankers
- Students/Public
We are proud to announce and give everyone the opportunity to voice out their comments, ideas and suggestions in our 
