"The consistency of economic and financial activities with Islamic law is largely determined by the ijtihad (earnestness) of ulemas," he pointed out, adding that ulemas also need to possess the capability of creating innovation.
Amin made the statement during the launch of the Indonesia Sharia Economic Outlook at University of Indonesia, Depok, West Java, that was followed online in Jakarta on Tuesday.
The vice president then noted that technological disruption had shifted the people's views on various matters, including Islamic economy and finance.
"It cannot be denied that our future will be significantly shaped by the use of innovation and advanced technology in almost every aspect of life," Amin remarked
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Amin believes that innovation and technology would determine the success in optimizing potentials that stimulate the growth of halal economy and investment while helping to meet the demands for halal products and services, with the value expected to reach US$3 trillion in 2028.
Amin then lauded the University of Indonesia, saying that as one of the best universities in Indonesia that has been producing ideas, innovation, and superior talents, the university must keep up with the global trends that are influential to the models of Islamic businesses and finance.
"That way, we will be able to anticipate changes, seize opportunities, and win the competition," he added.
The vice president emphasized that by collaborating, intellectuals and ulemas can emerge as the pioneers of innovation that support the growth of Islamic economy and finance at the national and global levels.
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Translator: Andi F, Tegar Nurfitra
Editor: Yuni Arisandy Sinaga
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