UQU First International Conference on Islamic Banking and Finance
“EFFICIENCY AND FINANCIAL STABILITY”
College of Islamic Economy and Finance
Umm Al-Qura University (UQU), Makkah, Kingdom of Saudi Arabia
06-08th March 2016 (26-28th JumadaI 1437H)
Following the recent global financial crises, the focus on Islamic economics and finance has intensified worldwide as part of the increasing interest in ethical and social dimensions of financial services. Many studies indicate that Islamic banks were more stable during financial crises compared to conventional banking. This has led many countries to develop Islamic financial products through reforms and modifications in their financial and legal systems to render them more efficient and able to access Islamic products. The growing market of the Shariah compliant financial products and services is evidence of this greater interest. Islamic financial institutions currently operate in over 80 countries worldwide, and the volume of Islamic financial assets issued and managed by Islamic financial institutions has expanded considerably over the last few years, from assets approaching USD 1.3 trillion in 2011 to approximately USD 2.5 trillion in 2014.
This relatively rapid rate of expansion and growth of the Islamic financial industry and its commercial operations has highlighted the need for an equal rate of growth in supporting regulatory and governance structures. It has also widely led to an understanding that academics, scholars and policy makers must take a leading role in providing innovative solutions to help the industry remain on track in achieving the goals of a truly alternative and sustainable Islamic economic system.
In this framework, the College of Islamic Economy and Finance at Umm Al-Qura University (UQU) is organizing its First International Conference on Islamic Banking and Finance with the title, “Efficiency and Financial Stability.” Such conference will bring together academics, researchers and professionals who have a strong interest in the future of the industry. It cannot be doubted that the lectures, workshops and panel discussions that will be held during such conference will provide a solid platform for the development and exchange of knowledge on related topics.
The International Conference on Islamic Banking and Finance is the first such forum organized at Umm Al-Qura University, to discuss the poetical and empirical new advances and research on Islamic banking and finance.
This conference will provide a platform for dialogue and discussions among scholars, academic researchers, practitioners and policy-makers to address important issues in terms of efficiency and financial stability from a Shariah and Islamic economics perspective.
The following are a number of areas and problems that the conference seeks to highlight:
Economic Analysis of Islamic Banking and Finance:
- Islamic banking; growth and development
- Islamic banking and sustainable development
- Challenges faced converting traditional banks into Islamic banks
- Efficiency and performance of Islamic banking
- Comparative studies of financial systems
- Dual banking system and market structure
- Islamic banking distress and merger announcements
- Measuring banking competition and market power
- Determinants of characteristics of bank relationships
- Equilibrium and rationing in Islamic credit markets
- Debt economics and Islamic capital markets (Sukuk).
Inclusive Financial Development:
- Impact of the global financial crisis, and the lessons to be learned for Islamic economics, banking and finance
- The importance of access to finance in Muslim and non-Muslim communities
- An assessment of inclusive financial development policies
- Experiences and challenges with Islamic microfinance and the role of Zakah and Awqaf institutions
- New models for Islamic microfinance and their comparative analysis
- Economics of social networks and their significance in Islamic microfinance
- Mortgage as an Islamic microfinance tool
- The role of Islamic microfinance in poverty alleviation
Islamic Capital Markets:
- Risk management in Islamic banks
- Islamic banking and both stock and Sukuk (bonds) markets
- Islamic banking and Insurance or Takaful
- Portfolio Management and Islamic Finance
- Islamic capital markets, Islamic equity funds, and venture capital.
- Applications in Islamic banking and finance
Islamic Banking in GCC: Reality and Challenges
- Islamic financial product engineering
- Establishing price criterion for Islamic finance
- Risk management capabilities of Islamic financial institutions
Issues in Islamic Accounting:
Sovereign wealth funds and their potential role in the development of Islamic finance industry
Monetary policy and financial stability:
- Monetary and financial stability with Islamic Banking
- Monetary policy and the function of central banking in an Islamic economy
- Monetary policy in a dual banking system
- Lending standards, asset bubbles, loose monetary policy and global imbalances
- Relationship between monetary reforms and macro-prudential policy
- Credit cycles, risk-taking and monetary policy
- Credit channel of monetary policy: bank lending channel, firm and household channel
- Benefits and costs of low monetary policy rates
- Exchange rate regimes and financial sector development
- Balance of payments imbalances and crises in the IDB member countries
- Interest-free credit from government controlled central banks
- Critiques of full reserve banking and fractional reserve banking
- Prospects for and challenges for GCC Monetary Union
- Transmission of monetary policy through Islamic banks
- Monetary policy and central banking function from an Islamic economics and finance perspective
- Quality management systems in Islamic banking
- Local and international market strategies of Islamic banks
- Business ethics in Islamic finance
- Social responsibility and corporate governance of Islamic banks
- Customer Relationship Management in Islamic Banking System (CRM)
- Quality management in Islamic banking
- Effects of competition on the development of Islamic finance industry.
- Reputation risk, transparency and good practices.
Regulation and Stability of Islamic Banking and Finance:
- Developing templates for assessing the stability of Islamic financial services
- Position of credit rating agencies in the Islamic finance industry.
- Actual assessment of stability and development of Islamic financial industry in different countries
- Enhancing the architecture and infrastructure for Islamic financial markets and institutions
- Enhancing the corporate and Shariah governance framework for the industry
- Enhancing the resilience and inclusiveness of Islamic financial services industry and the role of internationally mandated institutions, such as the Islamic Development Bank (IDB), Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI), Islamic Financial Services Board (IFSB), International Islamic Financial Markets (IIFM), and International Islamic Liquidity Management Corporation (IILM)
- Assessing the effectiveness of legal and regulatory infrastructure for Islamic financial institutions, including issues related to taxation, accounting, enforceability of contracts and recourse to assets.
- Impact of Basel III, G20 reform agenda, IFSB and AAOIFI standards on Islamic financial services industry
- Islamic perspectives on bankruptcy, insolvency and distress
Research and Teaching Issues:
- Islamic finance: discipline state and the way forward
- Islamic banking and finance teaching: reality, challenges and outlook.
- Islamic finance, its research methodology
- Challenges of education and teaching institutions and human resources
- Challenges of building linkages with market applications and public policies
- Balancing resources between Islamic economics and Islamic finance research and teaching and integrating Islamic finance within Islamic economics
- The state of research journals and internet resources in Islamic economics
- An assessment of Islamic economics and finance writings in international peer-reviewed journals
- Translating Islamic economic theory into a testable economic model
- Experimental work on the economic causes and consequences of religiosity and good behavior.
- How can academics develop the Islamic finance industry?
- Should Shariah scholars play a more effective role?
- How can research in Islamic economics and finance address the paradox (real or imagined) between ideals and reality?