The International Research Centre of Islamic Economics and Finance (IRCIEF-UIS), in collaboration with the Bahrain Institute of Banking and Finance (BIBF) as a strategic partner, will organise the 5th ICONIE 2026. The conference will discuss the role of Islamic economics in addressing current global issues related to social justice, economic inequality and sustainable development.

With the theme "Global Debt Crisis and Islamic Finance: A Roadmap for a Just Financial System" the conference aims to explore how Islamic economic principles can contribute to reimagining global financial systems, mitigating debt dependency and promoting sustainable development, particularly in vulnerable economies.

The world is facing a mounting debt crisis of unprecedented proportions. Sovereign debt levels in both developing and developed nations have reached unsustainable height, exacerbated by decades of interest-based lending, economic mismanagement and global financial shocks. As countries, and dependency on external bailouts, millions are pushed into poverty and public services are eroded. The current global financial architecture, rooted in interest (riba), speculative transactions and asymmetrical risk, has proven inadequate in fostering justice, resilience and long-term sustainability. In this context, Islamic economics offers compelling alternatives grounded in ethical principles, risk-sharing and socio-economic justice. Models such as profit-and-loss sharing (PLS), zakat, waqf, sukuk and non-interest-based financing can provide viable pathways toward equitable debt resolution, real economic growth and financial stability. These approaches emphasize fairness, accountability and the prevention of exploitative practices, aligning economic activity with the broader objectives of human dignity and collective prosperity.

This conference will bring together scholars, policymakers, financial practitioners and development experts to critically examine current debt challenges and propose Islamic alternatives that are both theoretically robust and practically implementable in a multipolar world.