Research Workshop on “Islamic Finance, Risk-Sharing and Macroeconomic Stability: Issues and Challenges” 2017

November 29-30, 2017, KAZGUU UNIVERSITY, Astana, Kazakhstan

Organised by
Islamic Research and Training Institute (IRTI/IDB)

In collaboration with



Islamic Research and Training Institute (IRTI/IDB) in collaboration with KAZGUU UNIVERSITY will hold a Research Workshop on “Islamic Finance, Risk-Sharing and Macroeconomic Stability: Issues and Challenges” on November 29-30, 2017. This Workshop aims at bringing together experts in Islamic finance, macroeconomics and development to discuss the current research and policy on Islamic finance, risk-sharing and macroeconomic stability.

Deadline for Full Paper Submission: September 30, 2017
Notification of Paper Acceptance: October 15, 2017
Pre-Registration Deadline: October 31, 2017
Workshop Date: November 29-30, 2017
Papers submitted to the workshop should provide new insights on the contribution of Islamic economics and finance towards economic development and macroeconomic stability: what are the issues and challenges in practice, specifically in terms of their effect on growth, economic stability and economic shocks. Papers are of particular relevance to the Workshop should address some of the following issues including but are not limited to: 

1.    What is the ideal economic system to allocate economic resources from Islamic perspectives?  
2.    What is the nature and methodology of Islamic economics? Any new insights, thoughts or research on this isues?
3.    What is the view of Islam on market and non-market Islamic process of distribution or redistribution of wealth for economic justice?
4.    How do we compare Islamic economics vis-à-vis mainstream economics? i.e. neo-classical economic and other school of economic thoughts.
5.    Differences between conventional and Islamic banks regarding the nature of risks i.e. risk-sharing vs. risk transfer? 
6.    Rate of return as an equilibrating mechanism of supply and demand as opposed to interest rate.
7.    What is the Islamic perspective pertaining to resource mobilisation – financial, physical and human?
8.    What is the major challenges for adopting 100% fractional reserves for Islamic banking with equity finance?
9.    What is the major challenges for implementing risk-sharing finance in a dual banking system? 

All the topics below are related to the Islamic monetary policy, financial systems, and institutions:

1.    Islamic economics methodology and its nature.
2.    New thinking of Islamic economics principles – concepts, rules and values.
3.    Resource mobilisation from Islamic perspectives.
4.    Markets and non-markets institution in an Islamic economy.
5.    Macroeconomic stability, public spending and fiscal policy.
6.    Budget framework consistent with Islamic values and macroeconomic stability.
7.    Structural change and macroeconomics in OIC member countries.
8.    Theoretical and historical practices of Muslim societies within an Islamic economy.
9.    The role of state in an Islamic economy system.
10.    Experiences and challenges in designing and implementing macroeconomic policy in OIC member countries.
11.    The interaction between the Islamic financial system and the macroeconomy.
12.    Reputation, risk-taking and monetary policy in Islamic economy.
13.    Money creation from Islamic perspectives. 
14.    Socio-economic justice and equitable distribution of income and wealth.
15.    The relationship between Maqasid al-Shariah and Islamic economics.
16.    The role of interest in modern economic system from Islamic perspectives.
17.    Current macroeconomic policy in the OIC countries.
18.    Islamic money markets and monetary policy.
19.    Risk-bearing and profit-sharing in an Islamic economy.
20.    The role of Islamic social finance in promoting macroeconomic stability.
21.    Other issues related to macroeconomics, policy and stabilization.

1. All papers must be submitted via online submission system.
Step 1: Click on Log in (For existing ConfBay Account User) or Register (First time ConfBay User)
Step 2: Log in the ConfBay System
Step 3: Click on "My Submission" and follow the instruction
2.   Please submit extended abstract with detailed about topic, methodology, analytical framework, and an outline.
3.   Paper must be in Microsoft Word format (doc, docx). Please do not submit ZIP files.
4.   An academic committee will review the abstracts and papers and depending on the quality of the papers, up to 10 best papers will be selected for presentations.
5.   Please limit the use of acronyms, abbreviations and references in the abstract.
6.   Papers have to follow formatting: A4 paper, single-spaced, with Times New Roman 12.
7.   We recommend Harvard referencing system.
8.   Keywords for the article: 3-5 keywords are sufficient.
9.   Submitted paper should not have been published nor under the consideration for publication elsewhere

    This workshop is envisioned as a meeting of minds among thinkers, scholars and practitioners (maximum 20 persons). Authors of the accepted papers will be covered for round-trip economy class air ticket and hotel accommodation during the workshop.


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