Dean of Faculty of Economics and Business (FEB) of Universitas Muhammadiyah Yogyakarta (UMY) Dr. Rizal Yaya, M.Sc., Ak., CA achieved the best paper award at the 3rd International Conference on Islamic Perspective of Accounting, Finance, Economics, and Management (IPAFEM) 2017 in Turkey. The conference was conducted on Thursday-Saturday (23-25/11) by University of Glasgow collaborating with Hasan Kalyoncu University and Yildiz Technical University under the theme of “Navigating in Uncertain Times for Socio-economic Justice: The Role of Islamic Business Ethics.” It aimed to publish novel thoughts in a Scopus-indexed international journal. Presenters of the IPAFEM were lecturers from 20 countries.
Dr. Rizal’s achievement showed that an Indonesian lecturer possesses capability to compete in international levels. “I firstly submitted my paper and it was assessed by judges based on several criteria such as being in line with the conference theme and novelty. The paper was written as the results of my five-month research. Joining by lecturers from 20 countries, the conference was not only a competition but also a forum to reinforce good relationship and sustainable networking,” told Rizal in an interview on Thursday (30/11).
Rizal mentioned that his paper was entitled ‘Governance of Profit and Loss Sharing Financing in Achieving Socio-economic Justice.’ “There are several categories of the paper, namely accounting, government, management, banking, business administration, business policy & strategy, capital market, and others. My paper focused on government discussing a profit sharing scheme which is designed to long term management as enhancing middle-low business with financing adjusted to the profit.
Rizal conveyed that the research findings should be applied to assist people have long-term business. “To support socio-economic justice, conducive financing should exist in order that the people do not get burdensome. If the financing is implemented, regular monitoring is a must from financing parties such as Islamic banks. Nevertheless, a lot of financing has not been conducive yet that many parties only provide 3-year financing and give it based on a track record of new business. Hence, I think that the profit sharing scheme should be developed because of its benefits and emphasizing social justice. I also expect that this achievement would motivate all UMY academicians since we have to always create works as many as possible whatever our position is,” asserted Rizal.