At a time when the world seeks novel solutions to the latest global economic and financial crisis, which was due predominantly to the financialisation process involving the proliferation of securitisation and new financial instruments, and substantial credit expansions to households, this conference seeks to emphasize the real economy foundations of Islamic economic thought as an alternative to those conventional approaches and furthermore as a redirection of efforts within the Islamic economics and finance (IEF) community away from strategies which seek only to mimic conventional techniques and towards developing the genuine real economy solutions which Islamic economics thought has sought for decades.
The theme aims to focus on those theoretical concepts and implementable solutions related to and based upon the real economy which has been defined as ‘the part of the economy that is concerned with actually producing goods and services as opposed to the part of the economy that is concerned with buying and selling on the financial markets'. The aim is to stimulate a debate on how Islamic economics and finance an better serve the real economy and foster economic, social and environmental sustainability. An important part of this is to identify the underlying reasons why Islamic economics and finance has not managed to effectively develop policies, practices and products which are authentically aimed at and based on the real economy, and then to bring forth the solutions that allow such development.
Extended abstracts (maximum 500 words) are invited under one of the following broad sub-thematic areas and must clearly demonstrate the following:
a. The research question being addressed and the conclusions derived
b. A strong relevance to the meme of real economy
c. An original and novel contribution to the existing body of knowledge