The 3rd International Conference on Islamic Business (ICIB)
Islamic banking and finance has crossed a number of milestones over the period of last three decades. There are big expectations by the industry experts. According to a research by Ernst & Young, global Islamic assets held by commercial banks that stood at $1.3bn in 2011, are expected to rise to $1.8bn in 2013. The World Bank Managing Director confirmed recently that the size of Islamic finance assets was expected to grow between 10 per cent and 15 per cent annually over the next three years, supported by strong demand and supply factors in addition to effective regulation and quality of services that would sustain growth. But, out of many challenges Islamic finance is facing is reliance on debt creating modes and neglect of the much desired equity based business and products. It is high time for researchers and practitioners to discuss how the equity based investments and businesses be developed and managed leading to fulfillment of the objectives of enhancing financial inclusion and just socio-economic development of the human societies. They are requested to send proposals for the Conference on any tipocs related to the theme. Some topics are suggested; researchers may like to suitably amend the title according to their plan of writing.
international Conference on Islamic Business: Managing Shariah Conforming Businesses: Prospects, Practices and Personnel
The Islamic system of management and finance focuses on effective disclosure requirement and documentation, values inspired personnel, caring employers, socially responsible investments, enhanced supply of risk-related capital, restricted risk taking, balanced return rate structure based on the real assets backed economic activities. It has the potential to provide a sound basis for sustainable development for socio-economic benefit of all business stake holders and the mankind as a whole. Therefore, the global business and management practices need to be geared with Islamic business concepts and practices strictly observing its original contours of management, justice and transparency. Above all, it would need human resources committed to serve the mankind with socio-economic considerations and accountability to the society and the Creator (SWT).
Increasing complexity in the financial products and the markets is further aggravating the problems. A large number of institutions like commercial banks, investment banks, asset management firms, hedge funds, mutual funds, savings banks, insurance companies, etc are source of huge profits and personal wealth for the associated traders and firms, but they serve little socially useful function. They strengthen the process of widening the gap between the wealthy and the poor in both developed and underdeveloped economies. The ICIB is a forum to discuss the potential and challenges in developing models and processes for present day business management in line with the tenets of the Shariah. readmore...