Following a successful PhD colloquium is the main conference itself. IIAFC 2012 is jointly organised by Universiti Teknologi MARA (UiTM), Universitas Islam Indonesia and Aston University, United Kingdom. Themed "Steering Innovations and Competitiveness in a Dynamic Economy: New Fronteirs, New Lessons", the conference has received more than eighty research papers and registered 240 participants from twenty two countries -United Kingdom, United States of America (USA),
Australia, Germany, Japan, Kuwait, Turkey, Philipines, Nigeria, Iran,
Indonesia, Thailand, Bosnia Herzegovina, Myanmar, Brunei, Egypt, Saudi Arabia,
Malawi, Pakistan, Senegal, Czechoslovakia and Malaysia. The main aims of the conference are firstly to explore new knowledge in Islamic finance & accounting and secondly to showcase latest research findings in the field. The second day of the conference was divided into four main segments: key note address by Mr Badlishah Abdul Ghani, CEO of
CIMB Islamic (Malaysia); Plenary session by Dr Syed Musa & Dr Zuljastry and Dinner & MOU signing. The signing of the memorandum of understanding is undertaken by four entities namely Amanah Ikhtiar Malaysia (AIM), Mydin Mohamed Holding Berhad, Rangsit University Thailand and Merdeka Malang University, Indonesia. Whilst AIM and Mydin Mohamed Holding are involved with the Accounting Research Institute (ARI) in a research project on "Islamic Microfinance", Rangsit and Merdeka Malang universities are ARI's collaborative research partners in "Target Costing and Dynamic Capabilities".