The Student Association of the Master’s Program in Islamic Economics (HMPM-ES), Faculty of Islamic Economics and Business (FEBI), UIN Sunan Kalijaga Yogyakarta, once again organized the Islamic Economic Consortium (IEC) 2023, marked by the opening of an International Seminar themed “Digital Economic Transformation and Exploration: Opportunities, Challenges, and Impact in Indonesia.” The event was successfully held on Thursday, 9 November 2023, at the Theatrical Hall, 5th Floor of FEBI UIN Sunan Kalijaga, and conducted in a hybrid format. The seminar brought together professional speakers and participants to exchange insights on the rapid development of digital technology and its implications for Indonesia’s economic landscape.

The opening session began with the recitation of verses from the Holy Qur’an by Nurliya, followed by the singing of the Indonesian national anthem and the UIN Sunan Kalijaga hymn, led by Nesha. The welcoming remarks were delivered by Hasbi, S.E., Chairperson of HMPM-ES, who expressed his sincere appreciation to the organizing committee for their dedication and teamwork in ensuring the success of IEC 2023. He also extended gratitude to all speakers and participants who contributed to the lively and meaningful discussions. The choice of digital economy as the main theme, he explained, reflects the rapid pace of digital development and its relevance for discussion among the millennial generation attending the event.

The opening remarks were continued by the Vice Dean III of FEBI UIN Sunan Kalijaga, Mr. Ahmad Salehudin, who officially inaugurated the IEC 2023. In his address, he conveyed his appreciation to all speakers for their willingness to share knowledge and engage directly with students in broadening perspectives on digital economic issues. The opening ceremony concluded with a prayer led by Nuvilu Alatas, marking the formal commencement of the Islamic Economic Consortium 2023 series.

The seminar session was moderated by Dr. Siti Nur Azizah, S.E.I., M.E.I., a lecturer at FEBI UIN Sunan Kalijaga. The keynote address was delivered by Prof. Dr. Rosylin Mohd Yusuf on the topic “The Impact of Digitalization on the Sustainability of Islamic Finance.” Her presentation highlighted how digital transformation has reshaped the Islamic finance ecosystem, outlining both future opportunities and emerging challenges. She emphasized the importance of integrating technological innovation with Islamic principles to strengthen the sustainability, accessibility, and inclusivity of the sharia-compliant financial sector.

The first panel presentation was delivered by Dr. H. Darmawan, S.Pd., M.AB., CFRM., a lecturer in the Master’s Program in Islamic Economics at FEBI UIN Sunan Kalijaga. He discussed the rapid development of digital products such as e-commerce, e-purchasing, and other technology-driven platforms in Indonesia. He noted that digitalization has had a significant impact on the global economy, with the digital economy contributing approximately 16.4% of global GDP in 2023. Looking ahead, he outlined Indonesia’s future prospects, including emerging technologies such as artificial intelligence and blockchain, market expansion potential, and anticipated innovations in digital products and services.

The final presentation was delivered by Mhd. Handika Surbakti, who addressed the topic “Islamic Fintech in Indonesia: The Landscape, Opportunities, and Challenges.” His presentation provided an insightful overview of the current state of the Islamic fintech industry in Indonesia, highlighting key challenges such as financial inclusion, cross-sector collaboration, and the need for greater public literacy regarding sharia principles in fintech. He concluded by emphasizing that strengthening the Islamic fintech ecosystem would generate significant benefits for Indonesia’s broader economy.

The seminar concluded with an interactive question-and-answer session involving participants, followed by closing remarks from the moderator. Overall, the IEC 2023 seminar is expected to broaden participants’ understanding of ongoing digital transformation and its growing influence on Indonesia’s economic development.