Islamic Banking - Efficiency and Financial Stability

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1. The 1st International Conference on Islamic Banking and Finance (ICIBF) ‘EFFICIENCY AND FINANCIAL STABILITY’ Call for Papers ‫اﻟﻤﺆﺗﻤﺮ اﻟﻌﺎﻟﻤﻲ ا ول ﻟﻠﻤﺼﺮﻓﻴﺔ واﻟﻤﺎﻟﻴﺔ ا ﺳﻼﻣﻴﺔ‬ Efficiency & Financial Stability ‫اﻟﻜﻔﺎءة واﻻﺳﺘﻘﺮار اﻟﻤﺎﻟﻲ‬ ICIBF Makkah 2016 6th-8th March 2016 Umm Al-Qura University Makkah Al-Mukarrama - Kingdom of Saudi Arabia C OLLEGE OF I SLAMIC ECONOMICS & FINANCE www.icibf.org
2. The 1st International Conference On Islamic Banking & Finance The 1st ICIBF at a Glance 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. The growing market of the Shariah compliant financial products and services is evidence of thisgreater 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 considerablyover 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 efficient, innovative and authentic solutions to help the industry remain on track in achieving the goals of a truly alternative and sustainable Islamic economic system.Now, more than ever, there is an urgent need to demonstrate how Islamic finance can be truly and authentically based upon the goals 1 and ideals of an Islamic economic theory. Thus, academics and scholars must continue to undertake cutting-edge research in matters of both theory and practice and present their findings for discussion at the global level Recognizing the above, Umm Al-Qura University is organizing its inaugural international conference on Islamic banking and finance with the theme of ‘Efficiency and Stability’. The conference will utilize the university’s strength in Shariah scholarship 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 and its 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.
3. www .icibf.org Focus Areas The International Conference on Islamic Banking and Finance is the first such forum organized at Umm Al-Qura University, to discuss the oretical and empirical new advances and research on Islamic banking and finance. Thisconference will provide a platform for dialogue and discussions between scholars, academic researchers, practitioners and policy-makersto address important issues in terms of efficiency and financial stability from a Shariah and Islamic economics perspective. The following are suggested areas for research papers but are not exhaustive: Economic Analysis of Islamic Banking and Finance Islamic banking,growth and development Islamic bankingand sustainable development Monetary and financial stability with Islamic Banking Monetary policy and the function of central banking in an Islamic economy Financier-borrower relationship, information, and switching costs asymmetric Determinants of characteristics of bank relationships Equilibrium and rationing in Islamic credit markets Banks, financial markets, and macroeconomic growth Monetary policy in a dual banking system 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 (competition and market power) Mechanisms of financial stability in Islamic banking transactions Efficiency and performance of Islamic financial institutions 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 Why do Islamic financial intermediaries exist An assessment of inclusive financial sector development policies Effect of Islamic financing announcements on firm value Experiences and challenges with Islamic institutions Islamic banking distress and merger announcements New models for Islamic microfinance and their Long-run impact of Islamic bank distress on firm performance Islamic Social Finance: Zakat, Awqaf, Microfinance Measuring banking competition and market power Awqaf Economics of social networks and their significance in Islamic microfinance 2
4. The 1st International Conference On Islamic Banking & Finance Islamic Capital Markets • Risk management in Islamic banks • Islamic banking and stock markets • Islamic banking and Sukuk (bonds) markets • Islamic banking and Insurance orTakaful • Portfolio Management and Islamic Finance • Portfolio Management and Islamic Finance • Islamic banking, Micro Finance and financial inclusion : • Islamic banking and financial innovation • Islamic banking in GCC: reality and challenges • Mathematics and valuation of Islamic financial instruments • Islamic financial product engineering,including the risk of concealment of riba • Establishing alternative pricing and valuation benchmarks for Islamic marks finance delinking from conventional bench • Enhancing quantitative risk management capabilities of Islamic financial institutions • Islamic corporate finance theory • Issues in Islamic accounting • The effects of competition on the development of Islamic finance industry • Status of credit rating agencies in the Islamic finance industry • Experimental work on the causes and economic consequences of religion and virtuous behavior • Sovereign wealth funds and their potential role in the development of Islamic finance industry • The economics of corporate social responsibility • The economics of debt and the economics of the Islamic debt capital markets (sukuk) • Islamic equity capital markets, Islamic equity funds, and venture capital 3
5. www .icibf.org Monetary Policy, Stability and Islamic Financial Markets and Institutions • Monetary policy and financial stability • 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 Management issues • Quality management systemsin 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 • 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 4
6. The 1st International Conference On Islamic Banking & Finance Regulation and Stability of Islamic Banking and Finance • Developing templates for assessing the development and stability of Islamic financial services • Actual assessment of stability and development of Islamic financial industry in different countries • Developing succinct performance and stability indicators for Islamic finance industry • 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) • Enhancing the effectiveness of legal, regulatory and core infrastructure for Islamic financial institutions, including issues related to taxation, accounting, enforceability of contracts and recourse to assets • Enhancing the regulatory framework of infrastructure financing and private financing of infrastructure projects using Islamic finance • Impact of Basel III, G20 reform agenda, IFSB and AAOIFI standards on Islamic financial services industry • The challenges of authenticity, financial product development, competition and sustainability • Enhancing the effectiveness of legal, regulatory and core infrastructure for Islamic financial institutions, including issues related to taxation, accounting, enforceability of contracts and recourse to assets • Islamic perspectives on bankruptcy, insolvency and distress 5
7. www .icibf.org Research and teaching Issues • Islamic finance: discipline state and the way forward • Islamic finance: what research topics recommend to senior and junior researchers? • Islamic banking and finance teaching: reality, challenges and outlook • Islamic finance, its methodology, history and scope • 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 Important Dates Submission Open Date Deadline for Submission of Full Paper Decision of Scientific Committee Submission of Final Drafts with Revisions Pre-Conference Workshops Conference Begins Conference Ends 1 September, 2015 15 November, 2015 15 December, 2015 31 December, 2015 5 March, 2016 6 March, 2016 8 March, 2016 6
8. The 1st International Conference On Islamic Banking & Finance Submission Methods Paper submission can be done in one of two ways : A B Submit the abstract according to the formatting requirements by the deadline given. If the abstract is accepted, you will be notified and asked to submit the full paper by the deadline given. The final decision of the committee will be communicated to you by the date given and if accepted you must submit the final camera-ready draft by the deadline given. You may submit the full paper, according to guidelines below, immediately if it is ready. The final decision of the committee will be communicated to you by the date given and if accepted you must submit the final camera-ready draft by the deadline given. Abstracts and papers may be submitted using either uploading a file using the online form or by sending the file to the email address sc@icibf.org 7
9. www .icibf.org Submission guidelines 1. Paper Submissions Paper submissions must comply with the following guidelines: • Paper must be in Microsoft Word format. Do not submit ZIP files. • Do NOT include the authors’ names in the main submission of the paper, as papers will be subject to double-blind peer review. Authors’ names and personal data must be submitted separately via registration. • Full tentative title of the manuscript must be included on the paper. • Abstractsmust be between 100-200 words. Please limit the use of acronyms, abbreviations and references in the abstract. • Keywords for the article: 3-5 keywords is sufficient. • Referencing: The Harvard referencing system is recommended but any system may be used as long as it is employed correctly and consistently. • Please do not submit duplicate copies of the papers. • As separate attachments on the submission form, please upload the following: - PDF copy of corresponding author’s passport should be uploaded. This is for visa purposes in case the paper is accepted. - Maximum 100 word biography of each author detailing educational background and relevant work experience. This may be used in conference brochures in case the paper is accepted. - High-quality passport-size picture of the authors (optional). This may be used in conference brochures. 2. Final Paper Submissions Authors whose first drafts have been submitted before the deadline and accepted will be invited to submit final drafts of their research papers based on the peer-reviewer’s recommendations for revision. 8
10. The 1st International Conference On Islamic Banking & Finance Academic Contacts Kindly e-mail your queries to the following contacts: The Scientific Committee: Email: sc@icibf.org The Organizing Committee: Email: oc@icibf.org Selection process The reviewing committee will scrutinize all abstracts / papers received and will notify potential and selected authors of their decisions by the dates indicated in the key dates section. The decision of the committee will be final. Important Information for Authors of Accepted Papers Subject to the availability of funds, one author of selected accepted papers will be sponsored round-trip economy class air tickets and hotel stay during the conference days only. The author who wishes to avail conference sponsorship must be the corresponding author. Sponsorship is subject to the availability of funds. 9