The global world has been experiencing an economic downturn due to the prolonged COVID-19 pandemic. Among the forms of efforts called for and made by the world to reduce the spread of this outbreak is by social or physical distancing. But unfortunately, this measure has an effect on the decline in overall economic activity. Theoretically, physical distancing or tightening and limiting public activities will result in fall in aggregate demand (AD) in the economy which eventually leads to the decrease in number of production. Such a decline in the economy has been compensated by the rapid development of digital technology that massively penetrated in industries. The industrial revolution led to a change in industrial order that affected almost every sector, both negatively and positively.

One of the sectors that integrated digital technology development is financial service industry, which later becomes known as Financial Technology (Fintech). Fintech itself is a global momentum in many countries, especially in Indonesia. This is not surprising considering that Indonesia is expected to become one of the largest digital economy markets in Southeast Asia by 2025. It is recorded that in early 2020 the growth of financial technology is reportedly remarkable. There was a 192.01% increase in bank accounts and 325.95% in borrower accounts. The emergence of various financial services industries seems to be a new trend in the midst of society. Collaboration and innovation from the financial industry (business) with technology, has given birth to various technology products and services, one of which is the presence of Financial Technology (Fintech).

Responding to this situation, the Faculty of Economics and Management of University of Darussalam Gontor invites scholars, academicians and practitioners all over the world to share ideas and exchange information to stabilize the global economy by improving the performance of Islamic Finance, Islamic Microfinance, Islamic Philanthropy, Islamic Business and Islamic Management through development of Financial Technology. In addition, the program is expected to help them in enriching their understanding of the excellence of Islamic Economics, Management and Business. To highlight some and more of these issues, the fifth FEMFEST (Festival of the Faculty of Economics and Management) is then organized by University of Darussalam Gontor Indonesia in collaboration with several universities worldwide.

The event will be held in three days on January 24 - 26, 2022, at University of Darussalam Gontor Indonesia, on theme "Strengthening Islamic Economy and Management through Financial Technology Enhancement Amidst the Covid-19 Pandemic". The event aims to bring together scholars, policymakers, experts and practitioners to discuss the role of Fintech in improving the performance of Islamic Economy and Management in the midst of the COVID- 19 pandemic. The final goal is to stimulate recommendations for Islamic economic, banking and financial stakeholders for the future prospects of Islamic social finance in particular and Islamic economics in general. An important part of this is to strengthen the relationships among the universities involved in ASIA that provide Islamic economics and management programs and then put forward solutions that enable such development.