Conferences

OIC countries are going through a major transition triggered by the Arab Spring phenomena. This reflects the growing demand among the masses of these fifty seven countries for justice, equity, and greater fairness in the distribution of economic resources. The future security, peace, and stability of these nations depend on how this demand is met and people’s Islamic aspirations are satisfied. Existing public policy instruments that have traditionally been deployed in these countries have not been adequate in addressing the needs of a divergent and growing population.

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This study examines the impact of globalization on cross-country inequality and poverty using a new comparable panel data for Organisation of Islamic Cooperation (OIC) and non-OIC developing countries over a long period, 1970–2008. The overall results of this study show that globalization exerts adverse distributional and poverty consequences and, comparatively, OIC countries suffer more from the adverse consequences of globalization. This study concludes that OIC countries are different from non-OIC countries in terms of their exposure with globalization.

The role of public infrastructure in reducing poverty, distributing wealth and improving economic growth is central in an economy. Surprisingly, among abundant studies discussing poverty and economic growth in

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The changing political scene in North Africa is resulting in a much greater interest in Islamic finance and what it has to offer. The modern practice of Islamic finance started in Egypt with the Mit Ghamr experiment of 1963. Such project had a strong focus on development and provided micro-savings and micro-loans before microfinance was conceptualized as such in the 1970s. Nowadays, Egypt has the potential to develop a new homegrown model focused on development that could avoid cosmetic “Islamic” finance.

Corporate governance systems are continuously converging and inherently presuppose the predominance of law. Strong emphasis is put on checks and balances and monitoring systems. However, despite convergence tendencies there are also differences in corporate governance systems that often stem from different commercial and legal cultures, the prevailing political and economic conditions and the development of the macroeconomic model. Religious traditions and moral aspects also come into play. Islamic financial institutions are significantly subject to multi-level governance systems.

This paper investigates the determinants of banking profitability in the Turkish banking sector between 2003 and 2011. In addition, we calculate the effect of being an Islamic bank on banking profitability which allows us to differentiate conventional and Islamic banks. We introduce the method of propensity score matching to the banking literature in order to estimate the average treatment effect (ATE) of being an Islamic bank in Turkey where there exists a dual banking system.

The objectives of this study are twofold: first, it is to investigate whether contagion effects of current Global Financial Crisis present in Gulf Cooperation Council (GCC) stock markets; second, it is to evaluate the impact of such financial crisis on the long-run and short-run dynamic relationships between GCC stock markets and leading conventional and Islamic stock markets around the globe, over the period from July 7, 2004 to August 3, 2012. In order to achieve the two objectives, this study employs three major investigation techniques.