Muslim economies are striving for decades for developing an Islamic economic system. The objective of building an Islamic economic system is to empower the people in a society. The societal empowerment is not possible with the struggle of a single individual or an only institution. It is a joint adventure where every individual, institution, regulator, legislator and leader has to play its role. The beauty of the Islamic economic system is that it invites and provides the opportunity to everyone for participating and contributing to the empowerment of people in a society.
Today, the whole world in general and Muslim world particularly is facing numerous social, economic and environmental challenges. The unemployment rate, poverty, health disaster, prevalence of hunger and unpredictable climate damage is increasing and the new financial crisis is paving its way. As a matter of fact, the existing economic systems are failing in solving these issues and problems, instead, considered as responsible for this worse situation. Meanwhile, the digitalization of financial services is happening that unveiling new issues such as cybersecurity, human source scarcity, job replacements and creation of intangible economy over the clouds and servers. Apart from these issues, it is proclaimed that digitalization is imperative for the Islamic finance industry because of the consumers’ tech-savvy behavior. Amidst of this whole scenario, the people are looking at an alternative economic system and seeking for solutions of the existing problems from that alternative.
The development of the Islamic finance industry was one step towards establishing an alternative economic, i.e., the Islamic economic system. This is the time for the researchers, scholars, students, bankers, executives, entrepreneurs, businessmen, and regulators and legislators to think and answer the question how the existing issues can be resolved through Islamic economic system and bringing social innovation hence empowerment of the people as possible under this system.
Keep in view all discussed above Minhaj University Lahore is organizing its 3rd international conference on Islamic economics and finance with the theme of ‘People Empowerment, Social Innovation and Role of Islamic Economics”. The conference will utilize the university’s strength to focus on the consensus that the Islamic banking and finance industry (IBFI) should be more inclined towards ethical and social concerns than the conventional system. Furthermore, the optimal role of governance, Innovative products and their mechanisms in providing stability and trust will be an important part of the main theme. Contributions should address research gaps in these areas in particular.
Notwithstanding the continuous discussion and conversation that are currently taking place among academicians, this conference aims to address a specific issue related to people empowerment, inclusion, sustainability and social innovation. In particular, the conference will address questions such as:
Human/Social Empowerment and Islamic Economics
• Concept of Human Empowerment in Islamic vs Western worldview
• Why existing economic systems are failing in solving world problems?
• Comparative study of ethical, sharing, real and Islamic economy
• Islamic banking or banking in Islamic Way: Investigation of Reality
Contribution of Islamic Finance Industry towards SDGs 2030
• Green sukuks: Performance, Development, Opportunities and Challenges
• Maqasid Al Shariah and CSR Index for Islamic Financial Institutions
• SDGS and Performance of Islamic Financial Institutions
• Halal Economy, Riba Free economy Ethical Economy or Islamic Economy: Titles vs Real Impact
Role of Islamic social finance in empowering the communities
• Growth of Non Banking Islamic Financial Institutions and their contribution for society
• Harnessing the potential of zakat, waqf, Islamic microfinance and green sukuk for social betterment
• Loan based and product based Islamic microfinance models: comparative study
• Impact Investment, entrepreneurship and Islamic Social Finance
• Poverty Alleviation VS Financial Inclusion: Reality VS Perception
Paradigm shift of Islamic Digital Economy
• Digital Transformation of Islamic Finance Industry in fifth industrial revolution
• Central Banks Digital Currency Based on Shariah Principles/Gold Based Digital currency for OIC
• Fintech vis a vis Digital Economy vis a vis Intangible Economy vis a vis Crypto Economy
• RegTech for Islamic fintech industry
Financial Innovations Facts and Theory/ Perception and Realities
• Financial innovation and engineering of customers’ tailored products in Islamic finance industry.
• What risks are unique to Islamic banking and how financial innovation can help to manage them?
• Neo banking models and their products: What if we build Islamic neo banks?
• Payment tokenization, app and cloud based systems : Do they cutting costs and solving existing problems in international payments and remittances?
Shariah Resolutions and Shariah Governance Framework/ Urdu Translation
• Role of Local and International Bodies (AAOIFI, IIFM, IIRA, IFSB and Others)
• Role of Central Banks in the supervision of Islamic financial institutions
• Standardization in terms of Shariah Interpretations and legal documentation for Islamic finance industry and Halal Industry
• Impact of Shariah Governance Framework on Performance of IFI’s
Global Halal Industry: Growth and Challenges
• Growth and Development of Global Halal Industry
• Halal earning is paramount to Halal food
• Hunger Alleviation, Food wastage management and Role of Halal Industry
• Halal food, halal tourism, halal pharmaceuticals and customer care products
From Green Economy to Blue Economy
• Why the shifting from green economy to blue economy is important?
• Environmental challenges and role of blue of economy
• Potential opportunities for Islamic finance industry in Blue economy
• Harnessing the power of technology and oceans to create sustainable environment for future generations
Islamic Political Economy
• Implications of Islamic economic system in debt trap economies.
• Leadership and its role in propagating Islamic economics
• Role of Muslim countries in supporting debt trap economies
• Islamic monetary economics and its importance for establishing justice and equality
Research and Teachings Issues
• Methodological problems in teaching Islamic finance in universities
• Academia and industry how collaboration is possible?
• Quality of Islamic finance curricula and challenges of current digital era
• Human capital scarcity: How we can meet the gap?