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In the contemporary world, the principles, premises, and institutions of Islamic economics are increasingly becoming relevant for the formulation of policies and management of economies and businesses. Islamic finance is one of the fastest growing areas of international finance. New products are continuously emerging, and those wishing to participate in this exciting and dynamic field have to be knowledgeable about both the principles of Islamic economics and finance and contemporary developments in the international financial industry. A particularly high concentration of Islamic financial institutions in the Middle East calls for localized research that offers the industry concrete analysis, new ideas, and contextual maps of past, present, and future events.
Legal, regulatory, and market environments are rapidly changing, and under such dynamic conditions, the Center for Islamic Economics and Finance (CIEF) was established in 2010 to provide students, faculty, and visiting scholars a resource rich environment to help put them on the cutting edge of contributions in their field. In 2014, Dr. S. Nazim Ali, former director of Harvard’s Islamic Finance Project, took over as the Center’s director. Today, he is guiding CIEF towards its vision of contributing to an ethically grounded global economy.