The development of Islamic economics in the world has been growing rapidly. Research and scientific studies in Islamic Economics become a necessity. This was responded by several activists of Islamic Economics (Prof. Ainun Na’im, Drs. Dumairy MA., Edhie Purnawan, Ph.D., Taufikur Rahman, MBA., Akhmad A. Susamto, Ph.D.) in Faculty of Economics and Business (FEB) UGM to initiate the establishment of an Islamic economics and business studies center at UGM.

Presence of high thoughts and intentions, they established LEBI (Laboratory of Islamic Economics and Business) in Ramadan 1429 H (2008). Furthermore, with the high support from EBReDA (Economics and Business Research and Development Agency) Penelitian Pelatihan Ekonomika dan Bisnis (P2EB) FEB UGM, PKEBS FEB UGM as a research center which is an extension of LEBI FEB UGM successfully established in 2016.