Conference Program

The Organizers/

The Partners/

Diamond Sponsors/

Golden Sponsors/

Silver Sponsors/

10th International Conference on Islamic Economics and Finance

Institutional Aspects of Economic, Monetary and Financial Reforms

Hamad bin Khalifa University- Student Center Doha, Qatar

23-24 March 2015

Conference Agenda
8.00am-9.00am

DAY 1 Monday, 23 March 2015

Registration

PLENARY SESSIONS: Ballroom

9.00am-10.30am

Recitation of Verses of the Holy Quran

Official Keynote Addresses:
H.E. Sheikh Abdullah Saud Al-Thani, Governor, Qatar Central Bank
H.E. Ahmed Mohamed Ali Al-Madani, President, Islamic Development Bank

Welcoming Remarks from Organizers:

Dr. Aisha Al-Mannai, Dean, Qatar Faculty of Islamic Studies, HBKU
Dr. Hatem El-Karanshawy, Chairman of Conference Steering Committee
Dr. Tariqullah Khan, President, International Association for Islamic Economics
Dr. Azmi Omar, Director General, Islamic Research and Training Institute, IDB

Welcoming Remarks from Partners and Sponsors:

H.E. Sheikh Jassim Bin Hamad Bin Jassim Bin Jaber Al Thani, Chairman, QIB
H.E. Sheikh Dr. Khalid Thani A. Al-Thani, Chairman of Ezdan Holding Group
H.E. Sheikh Mohammed Bin Hamad Bin Jassim Al-Thani, Chairman of Barwa Bank
Mr. Shashank Srivastava, CEO of Qatar Financial Centre (QFC) Authority
10.30am-11.00am

Coffee Break

11.00am-12.30pm

Instruments of Monetary Policy to Support Liquidity Needs of Islamic Banks

Room: Ballroom
Chair: TBA
International Initiatives to Support Liquidity Needs of Islamic Banks
Dr. Rifaat Abdel Karim - CEO, International Islamic Liquidity Management
Corporation (IILM)
Islamic Money Market Instruments
Mr. Ijlal Alvi - CEO, International Islamic Financial Market (IIFM)
Panelists to be confirmed

12.30pm-2.00pm

Prayer and Lunch Break

PARALLEL WORK SESSIONS:

2.00pm-3.30pm

Session 1: Islamic Social Finance and Entrepreneurship

Chair: TBA
Room: Cinema
Dr. Habib Ahmed Durham University
Dr. Zamir Iqbal World Bank
Mr. Tariq Cheema President, World Congress of Muslim Philanthropists
Panelists to be confirmed

 :2 ( 1 : )
)Reforms in Islamic Banking(1) (Regulatory, Economic and Educational Reforms
)Language: Arabic (interpretation available in English
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Session 4: Banking Product Development and Shariah Supervisory Boards

Chair: TBA
Room: Ezdan (Conference Room No. 4)
1. Samir Alamad, Aston University, UK
Financial Engineering and Product Development in Islamic Banking: Towards a
Standardized Framework
2. Abd Hakim Abd Razak, Trinity College Dublin, Ireland
An Inferential Reasoning on the Centralisation of Islamic Banks' Sharia' Boards:
Towards the Advancement of the Global Islamic Banking Industry
3. Muhammad Al Bashir Muhammad Al Amine, Bank Alkhair, Bahrain
Product Development and Maqid in Islamic Finance: Towards a Balanced
Methodology
4. Hassan Shakeel Shah, University Brunei Darussalam
Central Shariah Board in Central Banks: A Comparative Study of Pakistan and
Brunei
5. Nunung Nurul Hidayah, Aston University, UK
Religious Compliance Work in an Islamic Financial Institution: A Case of Islamic
Bank in a Non-Muslim Country

Session 5: Education, Human Capital & Research in Islamic Economics

Chair: TBA
Room: QFMA (Conference Room No. 5)
1. Mohamed Aslam Haneef, International Islamic University Malaysia
Islamization of Knowledge and the Development of Islamic Economics and
Finance: The Human Capital Imperative
2. Munawar Iqbal, King Abdulaziz University, Saudi Arabia
Islamic Economics & Finance Knowledge Management & Classification of
Literature
3. Gonzalo Rodriguez Marin, IE Business School, Spain
Islamic Finance in Europe: SCIEF Experience
3.30pm-4.00pm

Prayer and Coffee Break

PARALLEL WORK SESSIONS:

4.00pm-5.30pm

Session 6: Islamic Economics and Finance Education Setting Agenda of

Reforms for Continuous Improvement Part 1
Chair: TBA
Room: Ballroom
The first part of this work session will explore Islamic economics and finance
education in emerging areas, such as Morocco, Tunisia, Algeria and India. The
objectives of the symposium are:

To assess the challenges and opportunities of Islamic Economics and

Finance Education around the world.
To draw lessons from institutions with established programs through
knowledge transfer.
To explore broader institutional reforms to incorporate Islamic
economics and finance education at different levels.
To explore technical assistance and collaboration of stakeholders in
promoting Islamic economics and finance education worldwide.

Session 7: Financial Inclusion in the Muslim World

Chair: TBA
Room: QIB (Conference Room No. 1)
1. Muhammad Tariq Majeed, Quaid-i-Azam University, Pakistan
Poverty, Finance and Institutions: Evidence from OIC Countries
2. Charilaos Mertzanis, American University in Cairo
Access to financial services in an Islamic environment
3. Soufiane Boussalem, University of Larbi Ben Mhidi, Algeria
The Effect of Islamic Commitment on Economic Behavior and
Development in Algeria
4. Amin Mohseni-Cheraghlou, American University, Washington DC
Islamic Finance, Financial Inclusion and Poverty Reduction in OIC and
Arab MENA Countries
5. Clement M. Henry, National University of Singapore
Islamic Finance in Movement: Public Opinion in the Arab Region

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Session 11: Socio-Economic Justice: Business, Capital & Insurance

Chair: TBA
Room: QFMA (Conference Room No. 5)
1. Necati Aydin, AlFaisal University, Saudi Arabia
Islamic Development Paradigm and Social Business for Human and Social
Development
2. Muhammad Ayub, Riphah International University, Pakistan
A Case for Transforming Takaful from Corporation to Musharaka alta`awuniyyah Model
3. Raudha Md Ramli, National University of Malaysia
Maqasid Shariah as a Complementary Framework to Human Development
Index
4. Omar Javaid, Institute of Business Management, Karachi
Comparing Islamic Concept of Wealth & Modern Financial Capital:
Implications for Theory and Practice of Contemporary Islamic Finance
5.30pm-6.15pm

Prayer and Coffee Break

PARALLEL WORK SESSIONS:

6.15pm-7.45pm

Session 12: Islamic Economics and Finance Education Setting Agenda

of Reforms for Continuous Improvement Part 2
Chair: TBA
Room: Ballroom
Continuation of the discussion on Islamic economics education. This work
session will focus on the established Islamic economics and finance education
providers in regions such as the GCC, Malaysia, Pakistan, Qatar, and the UK
with the aim of identifying challenges, areas of cooperation, and opportunities.
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Session 16: Islamic Corporate Finance and Capital Markets Part 1
Chair: TBA
)Room: Ezdan (Conference Room No. 4
1. Amir Kia, Utah Valley University, USA
Islamic Economics Rules and the Stock Market: Evidence from the United
States
)2. Dawood Ashraf, Islamic Research and Training Institute (IRTI
?Does Islamic investment accrue hedging benefits
3. Abdulkadir Mohamed, Liverpool University
Religion and stock return comovement: Evidence from the Dow Jones
Islamic Market World Index revisions
4. Raphie Hayat, VU University Amsterdam, Netherlands
?Do stock returns react to an Islamic label
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Session 17: Zakah, waqf, and microfinance Part 1

Chair: TBA
Room: QFMA (Conference Room No. 5)
1. Ishrat Hossain, Qatar University Application of Zakah to food security in
the context of low-income rural areas in Bangladesh
2. Muhamed Zulkhibri, Islamic Development Bank
The Relevance of Conditional Cash Transfers in Developing Economy: The
Case of Muslim Countries.
3. Umi Yaumidin, Economic Research Centre-Indonesian Institute of Sciences
Financial Inclusion for Women: The Impact of Islamic Microfinance on
Womens Empowerment in Indonesia
4. Mohammad Nurzaman, University of Indonesia
Evaluating The Impact of Zakat by Indicator of Disaggregated Human
Development Index: An Empirical Finding
7.45pm-8.00pm

End of Day 1

Conference Agenda
7.30am-8.30am

DAY 2 Tuesday, 24 March 2015

Registration and networking

PLENARY SESSION:
8.30am-10.30am

Development of Inclusive and Sustainable Islamic Financial Services

Industry - Mid-Term Review of Ten-Year Framework
Room: Ballroom
Chair: Dr. Azmi Omar - Director General, IRTI-IDB
Mr. Zahid ur Rehman Khokher - Assistant Secretary General, IFSB
Dr. Ali Al-Amari - Counselor for Economics and Finance, PM Office, Qatar
Dr. Salman Syed Ali - Senior Economist, IRTI-IDB

10.30am-11.00am

Coffee Break

PARALLEL WORK SESSIONS:

11.00am-12.30pm

Session 18: Lessons from History

Chair: TBA
Room: Ballroom
1. Yusuf Sidani, American University of Beirut
Does Islam Impede Development? A Look at the Role of Islamic Laws and
Social History
2. Abdul Azim Islahi, King Abdulaziz University, Saudi Arabia
The Genesis of Islamic Economics: Revisited
3. Asad Zaman, Pakistan Institute for Development Economics (PIDE)
On the Nature of Modern Money
4. Inmaculada Macias Alonso, IE Business School, Spain
Mit Ghamr: Pioneer in Islamic Banking

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Session 21: Regulatory and legislative landscape

Chair: TBA
Room: Ezdan (Conference Room No. 4)
1. Valentino Cattelan, University of Rome Tor Vergata, Italy
Freedom of contract, actual justice and Islamic finance regulation: how to
balance legal efficiency and moral legitimacy in market economy
2. Murniati Mukhlisin, University of Glasgow, UK
Islamic Political Economy of Accounting Discourse on Financial Reporting
Standardization for Islamic Financial Institutions; AAOIFI and a Country
Case of Indonesia
3. Umar Aimhanosi Oseni, International Islamic University Malaysia
Legal Documentation in Islamic Finance: The Courts' Approach in
Reconciling Contractual Inconsistences
4. Gabriella Gimigliano, University of Siena, Italy
Regulatory and legislative landscape for Islamic financial institutions: the
Italian case
5. Sheharyar Hamid, University of Warwick
Drawing a Synergy between Theory and Practice A Move Towards a More
Stakeholder-Oriented Regulatory Framework for Modern Islamic Finance
Institutions

Session 22: Islamic Corporate Finance and Capital Markets Part 2

Chair: TBA
Room: QFMA (Conference Room No. 5)
1. Ercument Aksak, University of Durham, UK
What Drives Sukuk Markets? The Economic and Political Determinants of
Sukuk Markets' Depth
2. Basel Awartani, Plymouth University, UK
Sukuk co-movement and contribution to global capital market
diversification
3. Roslina Mohamad Shafi, Universiti Teknologi MARA Johor, Malaysia
Testing the Financial Distress Prediction Model for Sukuk Issuing
Companies In Malaysia
4. Sania Ashraf, Pondicherry University, India
Re-visiting Market Efficiency (EMH vs FMH): Evidence from Indian
Shariah Market

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Session 23: Zakah, waqf, and microfinance Part 2

Chair: TBA
Room: Room No. 2
1. Mabroor Mahmoud, ICD, Islamic Development Bank
Addressing Default Risk with Biniog Sathi Banking Model
2. Mustafa Omar Mohammed, International Islamic University Malaysia
Relationship between Intention and Actual support towards the Construction of
Modern Waqf-based Hospital in Uganda
3. Khairunnisa Musari, IAIN Jember, Indonesia
Sukuk for Microfinance Through Linkage Program: Case Study in Indonesia

12.30pm-1.30pm

Prayer and Lunch Break

PARALLEL WORK SESSIONS:

1.30pm-3.00pm
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Session 26: Risk management and stability of Islamic financial services
industry Part 1
Chair: TBA
Room: Ezdan (Conference Room No. 4)
1. Mughees Shaukat, College of Banking & Financial Studies, Oman
Instability of Interest Bearing Debt Finance and the Islamic Finance
Alternative
2. Samir Alamad, Aston University
Risk Management Instruments and Measurement Methodologies: A Tailored
Approach for Islamic Banking
3. Sajjad Zaheer, State Bank of Pakistan
Are Islamic Banks More Resilient during Financial Panics?
4. Zubair Hasan, INCEIF
Risk sharing versus risk transfer in Islamic finance
Session 27: Social banking, socially responsible finance & Islamic finance
Chair: TBA
Room: Cinema
1. Mehmet Asutay, University of Durham, UK
Public Policy Sources and Welfare Consequences of Islamic Finance
Industry Formation Models
2. Jeffrey A. Kappen, Drake University, USA
Towards the Institutionalization of Screening and Measuring for Social
Impact: Implications for Islamic Finance
3. Rizwan Malik, Kingston University, UK
Incorporating Socially Responsible Principles in Islamic Investments: An
Empirical Analysis
4. Warda Rasool, State Bank of Pakistan
Maqasid Al-Shariah Index for Islamic Banking Institutions
5. Mehmet Asutay, University of Durham, UK
Reframing Islamic Economics and Finance in Search for Authenticity:
Challenges for the Development of Islamic Economics and Finance
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Session 28: Economic Analysis of Islamic Banking Part 1

Chair: TBA
Room: QFMA (Conference Room No. 5)
1. Zeynep Topaloglu Calkan, Georgetown University Qatar
The relationship of Islamic investment rates and interest rates revisited:
Turkish Case
2. Faisal Al-Qahtani, University of Auckland, New Zealand
Economic Turmoil and Islamic Banking: Evidence from the Gulf
Cooperation Council
3. Hichem Hamza, University of Manouba, Tunisia
Return of unrestricted investment account in Islamic banks: Effect of
governance structure and risk taking
4. Sabri Mohammad, University of Bolton, UK
Measuring Liquidity Creation and its Determinants in Banking Sector: A
Comparative Analysis between Islamic, Conventional and Hybrid Banks in
the Case of the GCC Region
3.00pm-3.30pm

Prayer and Coffee Break

PARALLEL WORK SESSIONS:

3.30pm-5.30pm
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Session 32: Economic analysis of Islamic banking Part 2

Chair: TBA
Room: Cinema
1. Mabid al-Jarhi, Qatar Faculty of Islamic Studies
Towards an Economic Theory of Islamic Finance Regulation
2. Seif Ibrahim Tag el-Din, Imam University, Saudi Arabia
The Economics of Kharj for amn: With implications to return on capital
and return on risk
3. M. Kabir Hassan, University of New Orleans, USA
Agency problems in venture financial contracts: profit-sharing ratio as a
screening device
4. Mahdi Toghyani, University of Isfahan, Iran
Asymmetric information modeling in Islamic banking PLS contracts by
contract theory
5. Mohammad Morovati, Stanford University, USA
Understanding Risks in Islamic Finance A Review of Key Economic
Concepts
Session 33: Risk management and stability of Islamic financial services
industry Part 2
Chair: TBA
Room: Ezdan (Conference Room No. 4)
1. Awatef Louhichi, University of Sfax, Tunisia
Credit risk, managerial behaviour and macroeconomic equilibrium within
dual banking systems: Interest-free vs. Interest-based banking industries
2. N Serhan Aydin, Middle East Technical University, Turkey
Market Risk Management of Islamic Portfolios under IFSB and Basel
Capital Frameworks: A Quantitative Method for Stress-Testing
3. Faisal Al-Qahtani, University of Auckland, New Zealand
Financial Stability, Islamic Banking and the Economic Turmoil: Evidence
from the Gulf Cooperation Council
4. Norhanim Mat Sari, INCEIF, Malaysia
Islamic Financial Reform And Macroeconomic Policies: A Case Of
Malaysia
5. Yono Haryono, International Islamic University Malaysia
Credit Risk Management Practices in Indonesia: A Comparison between
Islamic Banks and Conventional Banks
6. Sutan Emir Hidayat, University College of Bahrain
What are the important selection criteria for the customers in choosing
Islamic banks? A Survey in Bahrain

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Session 34: Issues in Islamic accounting and business

Chair: TBA
Room: Room No. 3
1. Khaled Hussainey, Plymouth University, UK
The determinants of the disclosure level of Sharia compliance in Islamic
banks around the world.
2. Maliah Sulaiman, International Islamic University Malaysia
Shariah auditing: a review of the literature and future research agenda
3. Shahul Hameed bin Mohamed Ibrahim, Qatar Faculty of Islamic Studies
Towards achieving a maqasid shari'ah oriented Islamic banking
4. Sherif Ismail, Plymouth University, UK
The determinants of social accountability disclosure: Evidence from Islamic
banks
5. Nor Aishah Mohd Ali, Universiti Teknologi MARA, Malaysia
A Preliminary Study on Shariah Auditor's Competency in Islamic Financial
Institutions in Malaysia
6. Amy Mardhatillah, International Islamic University Malaysia
Promoting Individual Spirituality to Enhance Employee Readiness to
Change in Islamic Institutions

Session 35: Islamic Economic Theory

Chair: TBA
Room: QFMA (Conference Room No. 5)
1. Ahmad Assadzadeh, University of Tabriz, Iran
Talaqqi Rukban and Eliminating the Middlemen: An Application of the
Game Theory in the Islamic Economy
2. Hafas Furqani, ISRA, Malaysia
Definition of Islamic Economics as a Discipline: Challenges in Clarification
and Classification
3. Abdulkader C. Mahomedy, University of KwaZulu-Natal, South Africa
Why Islamic economics needs its own methodological framework
4. Sayyid Tahir, International Islamic University Malaysia
Islam and Poverty: The Approach, Policy Framework and Economic Policy
Agenda
5. Amir Wahbalbari, University Sains Malaysia
Scarcity or Abundance: Situating Critical Realism in Islamic Economics
6. Sajid Puthenpeedikayil, Jamia Millia Islamia, India
Notions of Free market and Social Welfare in Islamic Economics
5.30pm-6.15pm

Prayer and Coffee Break

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PARALLEL WORK SESSIONS:

6.15pm-7.45pm
:33 ( ( )2 : ) :
)Reforms in Islamic Banking (2) (Sharia, Monetary and Financial Reforms
The language: Arabic, interpretation available to English
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Session 38: Economic analysis of Islamic banking - Part 3

Chair: TBA
Room: Cinema
1. Mustapha Djennas, University of Tlemcen, Algeria
Business Cycle Volatility, Growth And Financial Openness: Does Islamic
Finance Make Any Difference?
2. Raphie Hayat, VU Amsterdam, Netherlands
Does an Islamic label indicate good corporate governance?
3. Elena Platonova, University of Durham, UK
The Impact of Corporate Social Responsibility Disclosure on Financial
Performance in the GCC Islamic Banks
4. Huseyin Ozturk, University of Leicester, UK
The Impact of Religious Commitment on Islamic Bank Depositors: Does
Size Matter?
5. Khaled Hussainey, Plymouth University, UK
The Impact of Efficiency on Islamic Banks' Performance: A Cross Country
Study
Session 39: Institutional Perspectives
Chair: TBA
Room: Room No. 2
1. Karim Khan, Pakistan Institute for Development Economics (PIDE)
Endogenous Institutional Change with Interest Endogenous Groups
2. Muhammad Junaid Khawaja, Qassim University, Saudi Arabia
Institution of Religion, Intergenerational Transmission of Religious Capital
and Islamic State: A Case study of District Multan (Pakistan)

CLOSING SESSION
8.00pm-8.30pm

Closing speeches, group photo, and conference communique

Room: Ballroom

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