Groundbreaking Research on Shariah Compliance and Stock Performance Presented at Bank Indonesia’s JIMF Conference

Dr. Ikhsan Modjo from the BINUS Finance International program recently, on August 3rd, 2024, presented a significant research paper titled “Weathering the Storm: Shariah Compliance, Digital Innovation, and Stock Performance During COVID-19” at the 10th International Islamic Monetary Economics and Finance Conference (IIMEFC). The paper addresses the resilience of Shariah-compliant firms amid the economic challenges posed by the COVID-19 pandemic, focusing on how digital innovation and strict adherence to Shariah principles impacted stock performance during periods of heightened market volatility.

This prestigious conference, hosted by Bank Indonesia and ranked in the Scopus Q-2 tier, is a central platform for discussions on Islamic monetary economics and finance. This year’s conference theme, “Promoting Inclusive and Sustainable Growth with Sharia Economy Amid the Age of Digitalization and Global Uncertainty,” reflected the need for sustainable financial frameworks as global economic dynamics shift.

The presentation highlighted findings demonstrating how Shariah-compliant firms that effectively integrated digital strategies showed enhanced resilience and adaptability to economic disruptions. The study’s comprehensive data analysis provides valuable insights for policymakers and industry practitioners seeking to foster stability in the Islamic finance sector.

The event gathered leading academics, policymakers, and financial professionals worldwide to explore paths for building a resilient Shariah-compliant financial landscape. The presentation was particularly well-received, sparking discussions on the crucial role of digital innovation in promoting sustainable growth for Shariah-driven economies.

With its inclusion in the Bank Indonesia Journal, this research is set to contribute substantially to ongoing academic and industry discussions around Shariah-compliant finance, particularly as economies continue to adapt to a digitally advanced and uncertain world.