"This will greatly help the development of a sharia-compliant economy as a whole. It will not contradict conventional businesses but will complement each other," Haris said.
The development of the two concepts can increase domestic production of halal goods which have become the ideals of the Vice President to utilize them optimally.
The strategy of developing the two concepts of sharia economy involves five related community groups called pancahelik. They are the government as a regulator, the community as an object of development, institutes of higher learning as a training provider, and businessmen and the banking institutions, he said.
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"At the UIN Maulana Malik Ibrahim campus, we have started (the concept). Some of the programs are integrated with Tri Dharma, research, education and dedication," he said.
During the meeting, the UIN Malang rector also revealed about the management of alms being used as loans for the community to strengthen the business capital. To date, UIN Malang has channeled loans to residents of 12 villages, equivalent to some 1,500 micro, small and medium businesses (UKM), he said.
"UIN Malang has collected profession alms used as interest-free loans for micro, small and medium businesses. The amount of loans is small with the maximum amount being Rp10 million. Most of the loans amount to Rp2 to 3 million," he said,
At the meeting, the Vice President asked UIN Malang and other institutes of higher learning to develop a people-based economy that could encourage the growth of private businesses in the community. (INE)
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