CIS Faculty

This volume titled Ethics, Governance, and Regulation in Islamic Finance is an attempt to highlight a few important inter-related topics. It consists of 14 papers that focus on their numerous dimensions. The papers were selected from the 8th International Conference on Islamic Economics and Finance held in Doha, 19–21 December 2011, and from the 9th International Conference on Islamic Economics and Finance held in Istanbul, 9–11 September 2013. 

PART 1: SHARIAH ISSUES AND BUSINESS ETHICS IN ISLAMIC FINANCE

This volume titled Access to Finance and Human Development – Essays on Zakah, Awqaf and Microfinance aims to bring together papers on these themes. The volume consists of selected papers from the 8th International Conference on Islamic Economics and Finance held in Doha from 19 to 21 December 2011 and from the 9th International Conference on Islamic Economics and Finance held in Istanbul from 9 to 11 September 2013.

In

This paper aims to provide points of consensus on Islamic Economics and Finance Education (IEFE) based on the combined efforts of experts in the field by summarizing the findings from significant conferences on IEFE since 1975. Conference data is collectively treated as a survey of experts in the field. The conferences are analyzed in the context of current scholarship to understand is the field’s evolution. Findings include a need to develop the methodology of IEFE and evolve the paradigm of IEF.

It is well established that countries require investments in infrastructure, education, healthcare and institutional development for long-term growth in income levels. However, due to the positive externalities associated with these sectors and issues such as non-excludability and non-rivalry, participation from private sector in these areas is generally inadequate and it becomes necessary for the state to intervene for optimal capital allocation.

This research focuses on Abu al-Hasan al-Ash`ari’s legacy and how to reconstruct it in order to provide an Islamic response to the contemporary philosophical challenges. It should be noted that these challenges are based on a type of metaphysics and axiology which completely opposed to the Islamic ones. Undoubtedly, the method of reconstruction will be based upon both rational stand and systematic procedures in its approach to the legacy of Abu al-Hasan al-Ash`ari.

Contemporary Islamic Finance is seen by many as operating in the 'push' mode, with incumbent players pushing their version of products in the market, rather than working in a 'pull' mode, where society's requirements would drive industry evolution. The Islamic finance industry has been criticized because the profit aspect of running operations overshadows the altruistic aspect of Islamic Finance (IF) and easily marketable solutions are more common than socially relevant products to benefit the wider communities.

This is Volume 1 of the 5 volumes’ book featuring selected papers in English presented to the 10th International Conference on Islamic Economics and Finance, held in March 2015, Doha, Qatar.