The failure of the conventional system raises the demand for an alternative system, namely the Islamic economic system. Where the advantage of this economic system is the inclusion of non-economic variables such as moral, social, political and religious in its basic assumptions. Economic development is not only aimed at the general welfare but at the spiritual welfare of the community. This was conveyed by M. Makhlani, Ph.D Islamic Development Bank (IDB) Field Representative for Indonesia at the General Stadium of the Faculty of Economics, UNY Thursday, September 20, 2012. IDB has been in the development of Islamic economics for several years and has developed a growing Islamic economic system. and growing in Indonesia. Stadium General was opened by Vice Chancellor 2 of UNY, Dr. Muh Alip and attended by the Dean, Deputy Deans I, II,

In his presentation, Makhlani said that the western civilization that was fronted by America was expected to collapse and be replaced by the Islamic economy which is now developing in Indonesia. This is evidenced by the various economic crises that have occurred in the west, such as the American crisis, the Greek and European crises which caused the unemployment rate in Europe to be 25%. In addition, the increasing number of Europeans who embraced Islam, or about 10%. The hedonistic lifestyle that is widely embraced by westerners is also starting to be abandoned. Many westerners are starting to look at Islamic culture which places great emphasis on family togetherness and shared prosperity.

Indonesia is predicted to be the originator of the Islamic economy, where Indonesia's potential to become a big country is wide open. This is evidenced by Indonesia's participation in various groups of countries, such as the G20 and APEC. In addition, Indonesia is an ideal land for the development of an Islamic economic system because, firstly, Indonesia is the largest Muslim country in the world. Second, Indonesia's development experience has adopted a socialist and capitalist system and this has become an asset to build an Indonesian economic system based on religion and cultural personality. Third, the building of the state constitution and the economic ideology of Pancasila is in line with Islamic economics. Fourth, the development of Islamic economic institutions and legislation which is quite widespread in the last 10 years.

Indonesia is not only developing an Islamic economy, other countries such as Malaysia are also developing an Islamic economy, but only limited to the money market and capital market. According to Makhlani, there are 3 subsystems of Islamic economics: the first is an Islamic economic subsystem based on usury-free monetary economy. Second, the Islamic economic subsystem of public finance economy, and the third subsystem of the Islamic economy based on trade/commodities.

At the end of his presentation, Makhlani conveyed the role of universities in the development of Islamic economics. Universities should be part of the development of economic law. Universities are not only as discussants, but must contribute ideas in the development of economic laws, because universities as an academic pathway have the ability/mind to build the country. (line)