CALL FOR PAPERS
Seventh Harvard University Forum on Islamic Finance “Integrating Islamic Finance in the Mainstream: Regulation, Standardization and Transparency” April 22 and 23, 2006
The Seventh Harvard University Forum on Islamic Finance is scheduled to be held at Harvard Law School in Cambridge, Massachusetts on April 22 and 23, 2006. The theme of the conference will be “Integrating Islamic Finance in the Mainstream: Regulation, Standardization and Transparency.”
The Harvard University Forum on Islamic Finance provides a venue for the critical and objective examination of the purposes, theory, practice, structure, and institutions of the rapidly developing field of Islamic finance. Building on previous forums, the Seventh Harvard University Forum will focus on a variety of challenges facing this industry: regulation, standardization, transparency, and related issues of Shari‘a compliance. The industry’s response to challenges in these areas will no doubt go far in determining the shape of its future expansions, and the degree to which it becomes part of the global financial mainstream.
From the Sixth Forum onwards, the Project has changed its policy from one of publishing the full conference proceedings to publishing a book of selected papers. Islamic Finance: Current Legal and Regulatory Issues (ISBN 0-9702835-5-5), based on the Sixth Forum, is due for publication in Spring 2005. In view of the new policy, prospective authors are recommended to put as much time as possible into developing their topics and editing their papers in order to have a better chance of inclusion in the final publication. For reference, kindly refer to the standards as set out by Harvard University’s official publications, such as the proceedings from past forums which can be purchased online at http://www.ifp.harvard.edu.
Papers are sought in the following areas:
REGULATION: ADVANCEMENTS, CHALLENGES, AND IMPLEMENTATION
Advancements in the principles, rules, or laws designed to control and govern the conduct of Islamic financial institutions. The challenges faced in formulating and implementing such regulation of financial institutions (bank and non-bank alike), and how these were overcome. Suggested topics include, but are not limited to:
-Precedents in Islamic and conventional finance worldwide in the development of regulation
-Challenges posed by Islamic finance products and corporate structures in formulating and implementing regulation
-Regulation of offshore and cross-border Islamic financial activity
-Innovation and implementation of risk management in Islamic finance
-Challenges of accommodating Islamic finance within established regulations
STANDARDIZATION AND TRANSPARENCY
Efforts to establish commonly agreed upon standards of practice by Islamic financial institutions, including product development, accounting, corporate governance and Shari`a compliance challenges, pitfalls, and shortcomings in the pursuit of such standardization and transparency. Potential topics include, but are not limited to:
-Analysis of particular international and domestic efforts at standardization and/or transparency
-Analysis of transparency and related corporate governance issues
-Gauging the demand and need for standardization
-Benefits and drawbacks of Shari`a standardization
-Historical and future trends in Shari`a standardization and auditing
SHARI`A COMPLIANCE
The latest advancements in the understanding of Shari`a with regards to financial products, services, their regulations and implementation. Potential topics include, but are not limited to:
-History, sociology and politics of Shari`a compliance.
-Degree of overlap between goals of Shari`a compliance and the demands of modern regulatory frameworks
-Impact of Shari`a standards on standardization and transparency of products, services, and institutions
-Shari`a perspective on the development and future of the industry
-Dynamics of Shari`a consultation and supervision
CURRENT ACADEMIC RESEARCH:
As in the Sixth Forum, a section will be devoted to advanced graduate students in Islamic finance, economics, and law. They are encouraged to submit their work for consideration. Preference shall be given to those falling within the themes of this year’ s conference.
GUIDELINES
Potential presenters are requested to e-mail, in a Word document or as PDF, the following to [email protected]:
-Biographical sketch up to 200 words
-Single-page list of related publications
-150-word abstract of the proposed paper
Papers must be original and written exclusively for presentation at the Seventh Harvard University Forum on Islamic Finance; papers substantially similar to those already presented elsewhere shall not be accepted.
Papers on issues not listed above but relevant to other issues in shari’a and conventional law in Islamic finance or governance and regulation in Islamic finance may be submitted for review.
All papers, abstracts, and supporting material accepted for the Forum become the property of the Islamic Legal Studies Program at Harvard Law School and may not be reproduced in any form or submitted elsewhere without prior written permission. No submissions will be returned.
DEADLINES
Paper title, 150-word abstract, and bio August 1, 2005
Draft of Paper October 15, 2005
Final Paper January 15, 2006
CONTACT DETAILS
Seventh Harvard University Forum on Islamic Finance
1350 Massachusetts Avenue, 850 Holyoke Center
Cambridge, MA 02138, USA
Tel:. (617) 496-2296, Fax: (617) 496-2373, Email: [email protected]
First Islamic Finance Summit in Germany
The Developing Financial Products for Islamic Markets – Islamic Finance Summit will take place on September 23-24 in the Marriott Hotel Frankfurt. The main focus is how European financial institutions and professional services can meet the growing demand from Islamic Markets.
Islamic Finance is moving forward in Europe rapidly. Recently the federal state of Saxony-Anhalt in Germany has decided to issue Europe’s first Islamic bond.
In the UK the application of the Islamic House of Britain for a fully fledged Islamic bank in London is in progress and expected to be granted in the near future. Both subjects are highlights of the first Islamic Finance Summit in Frankfurt.
Axel Guehl, Head of Treasury at the Ministry of Finance for the state of Saxony-Anhalt, will give an insightful view about the Sukuk bond they have structured. Waheed Qaiser, Head of Retail Banking Islamic House of Britain, will report about the foundation of the first European Islamic bank, which should have received its license by this time.
The summit is lead sponsored by Dow Jones Indexes. Rushdi Siddiqui, Global Director of the Dow Jones Islamic Market Indexes, views the
summit as a very timely project due to three major trends: firstly, the desire of many western financial institutions to create Islamic products in Europe for the Middle Eastern and South East Asian markets.
Secondly, it reflects recent efforts to develop financial products, which appeal to the almost untapped potential of the Muslim communities in Europe itself; and finally the non-Muslim crossover due to parallel systems of beliefs and superior performance or reduced costs such as mortgages.
The conference concept takes these trends into account, bringing together a selected audience of decision-makers from financial institutions and professional services from both sides: the Islamic financial industry and their European counterparts.
Top level representatives of European Islamic communities have also been invited to the event in order to represent the unmet needs of the local European Islamic markets.
The unique networking opportunities offered at the conference should evidently help to close the gap between demand and supply in relation to
Islamic financial services. New entrants to the market will be given the opportunity to establish a foothold, while established players will have the chance to update themselves on the latest trends in Islamic finance from a European perspective.
The first Islamic Finance Summit has been organised by ECMG AG, a corporate finance consultancy headquartered in Essen, Germany and with representative offices in Dubai and Singapore. ECMG AG raises capital for companies and investment funds in the Middle Eastern and Asian markets.
Further information can be found at http://www.islamicfinance.ecmg.de
Islamic Leasing Conference…
Islamic Leasing is very attractive way to structure shariah compliant financing in non-muslim countries. Hence I would be glad to meet you on the following conference which is especially targeting ethnic community members to discuss the issue. I will participate but I am not involved in the organisation. My recommendation is based on the conviction that this is a very timely project:
The New Horizon: Islamic Leasing’s Rising Star 27th May 2004 Millennium London Mayfair Hotel London W1
In association with
Finance & Leasing Association and the Ethnic Minority Business Forum Endorsed by Institute of Islamic Banking & Insurance
Best regards wa salam,
Michael Gassner
Consultancy
Phone: +49 (0) 7000 427 76 37
Fax: +49 (0) 7000 427 76 37
Web: www.islamicfinance.de
