Key presentations by
Lena Rethel - Associate Professor of International Political Economy
Prof Shaheen Ali - Director of Postgraduate Research Law School
Dr Abdullah Sahin – Centre of Educational Studies
Globally, the Islamic finance industry has reached a market size of US$2.2 trillion.
In the UK, it has also made significant progress with a slate of new products being taken to market, including, for example, new mortgage and insurance (takaful) products.
Islamic finance constitutes a principled approach to finance in that financial products and services have to comply with the religious stipulations of Islam.
This includes the prohibition of interest and significant restrictions on the design and marketing of speculative financial products.
Given this ethical remit, Islamic finance practitioners seek to market their products not just to Muslims, but also other ethically conscious financial consumers, pointing to the fallout caused by the speculative excesses of the financial crisis of 2008-2009 and its ongoing effects.
This session will highlight some of the key features of Islamic finance in terms of underlying principles and financing techniques. It will then discuss some of the real world applications of Islamic finance in the UK and elsewhere.
In so doing, it will also draw on the experience of Malaysia, a country where Islamic finance has experienced significant regulatory support and is estimated to reach a share of the domestic banking system of 40 per cent by 2020.
In particular, it will consider recent efforts by the central bank to move beyond a focus on individual financial products and to roll out a national framework for value-based intermediation that encourages (Islamic) banks to pay more attention to how they create value and impact that benefit society as a whole.
For speaker profiles please see below:
Please could all attendees register by emailing Tony.Carroll@warwick.ac.uk