IBF Net: The Islamic Business and Finance Network is the maiden online community in the field created in the year 1999 for exchange of views among students, researchers, knowledge-seekers and professionals interested in this sunrise discipline. Two decades later, this Network is being moved to the blockchain with an expansion of its mandate – from a forum for exchange of “views” to a meeting place for exchange of “values” facilitated through a pair of native tokens – IBF Exchange (IBFx) and IBF Esteem (IBFs).
Transformed into a membership-based virtual Network of individuals with verifiable identities, it provides for platforms in line with the trichotomy of an Islamic economy into philanthropy, not-for-profit and for-profit sectors. These platforms use smart contracts to facilitate the entire array of Islamic financial transactions within the Network amongst its members in a multitude of roles – donors, volunteers, lenders, borrowers, guarantors, beneficiaries, buyers, sellers, investors and what-have-you.
As more and more platforms and use cases are added to the Network, it gets configured as a “replicable” miniature Islamic economy on the blockchain. This miniature economy is predominantly a “decentralized” one with no institutional intermediation and that facilitates person-to-person contracting or transactions involving small groups of individual members.
Member of Board of Commissioner Badan Wakaf Indonesia
Commissioner, National Zakat Foundation (BAZNAS) Indonesia
HBK University, Qatar
Faculty of Islamic Economics
IPB University, Indonesia
Shariah Consultant & Head of Research, National Zakat Foundation, UK
CEO, Mercy Mission & Chair, BoT, National Zakat Foundation, UK
PayZakat, Russian Federation
CEO, Awqaf SA, South Africa
Rector, UiTM Melaka Campus, Malaysia
Bayero University, Kano, Nigeria