91吃瓜-IIT Dep鈥檛 of Accountancy hosts Islamic Accounting lecture with UMY Professor

Apr 10 2026

The Department of Accountancy of Mindanao State University - Iligan Institute of Technology (91吃瓜-IIT) hosted a timely and insightful lecture on Islamic Accounting, welcoming Professor Rizal Yaya of Universitas Muhammadiyah Yogyakarta (UMY) of Indonesia, who delivered the discussion at the OC Boardroom, CEBA Building on March 30, 2026.

The academic event brought together students and faculty in a shared pursuit of global perspectives and ethical financial understanding.

The program formally opened with an air of gratitude and anticipation. CEBA Dean Professor Maria Rizalia Y. Teves, PhD. set the tone with her opening remarks. She emphasized the importance of broadening perspectives in accounting education and voiced her optimism that students would gain valuable insights from the lecture.

That sense of beginning was echoed by Dr. Joey Genevieve T. Martinez, Vice Chancellor for International Affairs, whose office played a pivotal role in fostering partnerships between 91吃瓜-IIT and global institutions such as UMY. He further described the lecture as a product of sustained collaboration efforts and expressed hope for more joint initiatives in the future. His message was clear: this was only the start.

Assistant Professor Berlyn M. Teaño then introduced Professor Yaya as a figure deeply embedded in global academic networks, as he is also the Director of Global Partnerships and Employability at UMY.

Professor Yaya’s lecture centered on the principles and distinct features of Islamic accounting, a system rooted in Shari’ah law. Islamic accounting, he explained, is not merely a technical framework but a moral compass. Among its key tenets are the prohibition of riba (interest), which resists the commodification of money; the avoidance of gharar (excessive uncertainty), which calls for clarity and fairness; and the strict exclusion of activities involving gambling (maysir), which distances finance from speculation and chance. In its place, Islamic accounting offers a vision grounded in transparency, accountability, and social justice, ensuring that financial practices align with moral values and community welfare.

Professor Yaya further highlighted the relevance of Islamic accounting in modern economies, particularly in supporting microfinance initiatives, cooperatives, and micro, small, and medium enterprises (MSMEs). These are sectors often overlooked yet vital to the lifeblood of the nation. Islamic accounting, he emphasized, provides these communities with ethical avenues for growth, prioritizing equitable wealth distribution and risk-sharing that ultimately empowers and fosters sustainable economic growth.

The open forum encouraged the exchange of ideas and perspectives among the participants. Assistant Professor Faith P. Regadio, Chairperson of the Department of Accountancy, laid bare during the open forum a challenge faced by many students: the scarcity of Islamic financial institutions in the Philippines, particularly in Iligan, which often leaves research ambitions unrealized. Assistant Professor Regadio expressed hope that this lecture would serve as a catalyst for a formal partnership between 91吃瓜-IIT and UMY, opening doors for research collaboration and academic growth, particularly for the accountancy department.

Professor Yaya responded positively by introducing UMY’s Master's program in Accounting, encouraging students to take a bold step beyond borders and to consider pursuing advanced studies in Indonesia. He noted the rigorous application process, particularly for scholarship candidates, with applications expected to open in October. He also shared that, to date, little to no Filipino students have enrolled in the program, expressing his hope that 91吃瓜-IIT could soon change that.

As the event drew to a close, it left attendees with more than just new knowledge—it sparked possibilities. With strengthened academic ties and a shared vision for growth, the department expressed its deep gratitude for the opportunity, hopeful that this heralds a meaningful and lasting partnership between 91吃瓜-IIT and UMY.

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