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Durham Centre for Islamic Economics and Finance

Conferences and Events

Socio-Economic Justice, Equality, SDGs and the Constituting of Participatory Society: The Islamic Moral Economy & Finance Project

SASE Conference on Global Reordering: Prospects for Equality, Democracy and Justice

Doshisha University, Kyoto, Japan, 23–25 June 2018 ||


Islamic moral economy has emerged in the post-colonial period to respond to the observed developmentalist failures including socio-economic failures and the failed political process. As a project, Islamic moral economy aims at human-centred development by essentialising social justice, equality, and participatory and sharing society by rescuing and re-defining human as well as land, labour and capital among all other stakeholders. Thus, Islamic moral economy has theorised an alternative way of re-organising economy, society and politics in an interactive and integrative manner to form a participatory and sharing economy and society.

Within this alternative paradigm, Islamic finance has emerged as the initial operational aspect of Islamic moral economy, which has demonstrated an unprecedented growth in asset size and global expansion. However, despite this phenomenal growth in the transactional nature, we are yet to see the transformational impact of Islamic finance such as on social justice, equality (prevention of inequality and poverty), Sustainable Development Goals (SDGs) as well as constituting participatory and sharing economy.

This mini-conference aims at bringing scholars and practitioners together to discuss the role of Islamic moral economy and Islamic finance in achieving sustainable development, social justice, equality (preventing inequality) and participatory society as well as the political economy impact and consequences of the emerging Islamic finance.

The conference solicits conceptual, theoretical, and empirical papers to address the following issues within the Islamic moral economy and Islamic finance frame(s):

(1) Socio-economic Development and Policy-making within the Islamic Moral Economy Paradigm

  • Alternative models of Islamic economic development;
  • Alternative models of human-centred developmentalism in Islamic moral economy;
  • Rationalising sustainable development in Islamic moral economy;
  • Social and economic justice as well as debate on fairness, equality (inequality) and justice;
  • The importance of socio-economic justice and its policy implications in Islamic moral economy and finance;
  • Islamic social welfare function; social contract theory;
  • Conceptual, theoretical and empirical explorations on Islamic sustainable development;
  • Capabilities approach and social justice within Islamic moral economy;
  • Islamic legal and moral positioning on ‘freedom from poverty’ and/or inequality or fiqh vs Islamic moral positioning on the alleviation of poverty and overcoming inequality;
  • Islamic philosophical, moral and fiqhi positioning on equality;
  • Alternative indicators including maqasid al-Shari’ah indicators for assessing social economic development in Islamic moral economy;
  • Comparative and empirical assessment of socio-economic development, equality/inequality in Muslim countries and Islamic moral economy and finance responses.

(2) Islamic Finance and Socio-Economic Justice & SDGs Related Performance

  • The role of Islamic finance in achieving SDGs;
  • The impact of SDGs on strategising Islamic financial institutions;
  • The role of Islamic finance in ending poverty and reducing inequality;
  • Islamic social finance and socio-economic justice in overcoming inequality and poverty;
  • The environmental impact performance of Islamic finance;
  • Inclusive growth and social investment through Islamic finance/Islamic social finance;
  • The role of Islamic finance and Islamic social finance on gender equality;
  • The state of CSR in Islamic finance and alternative approaches including maqasid al-Shari’ah performance;
  • Sukuk, Green Sukuk and Social Impact Sukuk;
  • Islamic finance and Socially Responsible Impact Investing;
  • Examining the relationship between CSR/maqasid performance of Islamic banks and its relationship to financial performance;
  • The impact of Shari’ah governance process in essentialising SDGs in Islamic financial institutions;
  • Innovation towards alternative forms and institutions of Islamic social finance

(3) Political Economy of Islamic Moral Economy & Finance for Socio-Economic Justice and Participatory Society

  • Conceptual and theoretical imaginations of Islamic moral economy on constituting a new political economy and social formation in re-organising society and modes of production leading to participatory and sharing economy, and participatory democracy;
  • The role of Islamic moral economy and Islamic finance in creating a just and participatory society and sharing economy within the interaction between state, society, individual and firms;
  • Exploring Islamic moral economy’s imagination for participatory and sharing economy, and democracy;
  • Exploring the political expectations and consequences of Islamic moral economy and finance towards participatory society, sharing economy and democracy;
  • Locating Islamic moral economy and Islamic finance within counter hegemony, double movement and social movement frames;
  • Social contract and its implications for Islamic moral economy and Islamic modes of productions;
  • The emergence of Islamic economics and finance through New institutional economics and New Institutional Sociology;
  • Comparing the importance of institutional values in Islamic moral economy and new institutional economics;
  • The impact of politics in the evolvement, expansion, diffusion and performance of Islamic finance;
  • Conceptual and empirical studies on the impact of Islamic finance on political structure and regulation.
  • Conceptualising Islamic governance to identify state-society-and firm relationship for participatory society as well as defining and shaping Islamic corporate governance as part of participatory society;
  • Exploring theoretical and empirical studies on the role of Islamic moral economy and finance in peace and conflict resolution in achieving participatory society;
  • Conceptual and theoretical explorations on the role of state in Islamic moral economy.

Abstract/Paper Submission

Please note that colleagues should send 1,000 words of extended abstract by 8 January 2018, which should provide a short background, aims of the paper, the methodology and method used, and the findings (or expected findings).

Please also provide your short biography (not CV) in main text of the abstract.

Paper submissions and session proposals must be made through our online submission system; for additional information on how to submit click here

Once logged into, click on the green Submit A Paper button in the top right-hand corner to begin the submission process. Please submit your abstracts by choosing our mini-conference.

The deadline for submitting the extended abstract is 8 January 2018
Acceptance notifications will be sent by 1st March 2018

If you have any queries, please do not hesitate to contact the corresponding organisers below:

Mini Conference Organisers:

Mehmet Asutay (Corresponding organizer) Professor in Middle Eastern and Islamic Political Economy and Finance
Director, Durham Centre for Islamic Economics and Finance
Durham University Business School, Durham University, UK

Necati Aydin Associate Professor of Economics
College of Business, Alfaisal University, Riyadh, Saudi Arabia

Shinsuke Nagaoka Associate Professor of Islamic Economics and Finance
Graduate School of Asian and African Area Studies, Center for Islamic Area Studies at Kyoto University (KIAS)
Kyoto University, Kyoto, Japan

Understanding Islamic Securitization, Sukuk Structures and Documentation

23-25 April 2012, at DIFC Centre of Excellence, Dubai - UAE

Organized by Hawkamah, the Institute for Corporate Governance in Partnership with Durham Centre for Islamic Economics and Finance, UK, and Dar Al-Sharia.

Hawkamah, the Institute for Corporate Governance has partnered with Dar Al Sharia Legal & Financial Consultancy LLC, and UK's Durham University, to offer a 3 day course in Islamic securitization and Sukuk structures. A half day Pre Workshop Seminar is also being held on "Principles of Islamic Finance and Islamic Financing Structures" is being held on April 22, 2012 for those who are new to Islamic Finance.

This course will benefit professionals working within the finance industry who seek to better understand the functional comparison between conventional and Islamic finance. The participants will benefit from a unique curriculum that teaches simultaneously the academic and practical elements of Islamic finance (focusing on securitization and Sukuks), including the role of corporate governance in Islamic finance, providing the participants an overall understanding of how Islamic finance operates.

Certificates will be awarded jointly in the name of Hawkamah, Dar Al Sharia and Durham University, UK.

Further information

Previous guest speakers and research seminars include:

International Conference on Islamic Finance, Islamic Economic Development and Sustainability

26-27 July 2016 in Durham

The conference provides a platform among academics, researchers and practitioners to share and synthesize their theoretical, empirical and field related knowledge in relation to the Islamic economic and sustainable development theory and practice as well as exploring the strategies and consequences of Islamic finance for economic and sustainable development.

The conference, thus, aims to contribute to the development of theory making in Islamic economic and sustainable development; as well as aiming to evaluate the current practice of Islamic banking and finance in terms of economic and sustainable development.

In doing so, the conference will provide a platform to discuss potential areas and strategies for further orienting Islamic banking and finance for sustainable development, beyond the current practice of financialisation so that the observed transactional success of Islamic finance can be coupled with transformational success as the Islamic moral economy assumes.

Call for papers

Papers in the following broader thematic areas are encouraged to be submitted:

  • Theoretical and conceptual studies, and models in Islamic economic and sustainable development;
  • Explorative studies in Islamic Political Economy and Islamic Moral Economy in essentialising developmentalism;
  • Theoretical studies and models in exploring Islamic finance in facilitating economic and sustainable development;
  • Theoretical and conceptual studies on the instruments and operations of Islamic finance for economic and sustainable development;
  • Empirical studies critically focusing on the performance of Islamic banking and finance in relation to economic development, sustainable development, and social impact;
  • Empirical studies on Islamic finance (including Islamic capital markets) and infrastructural development, and their sustainable development consequences;
  • Empirical studies on Islamic non-banking financing institutions (such as Islamic microfinance, Islamic social funds, and Islamic development funds) and Islamic social financing (zakah and infaq) and related institutions (zakahfunds, waqf and Islamic charities) and their economic and sustainable development consequences;
  • Critical conceptual studies on developmentalist implications of maqasid al-Shari’ah and the debate on maqasid al-Shari’ah’s conceptual and practical capacity to produce developmentalism; and evaluative studies on Islamic banking and finance in relation to maqasid performance;
  • Theoretical and empirical oriented convergence studies on SDG and ESG movements and their relations with Islamic economic and sustainable development; and empirical studies on SDGs and ESG performance of Islamic banking and finance;
  • Explorative studies on the role of civil society and politics in developing and furthering developmentalist initiatives within Islamic normative world and ethical principles.

Extended Abstract Submission and Submission Process:

Authors may submit an extended abstract of theoretical and empirical research papers with approximately 1,500 words to:

Professor Mehmet Asutay:; and copying to Dr Shafiullah

The extended abstract submissions will undergo a rigorous process of review. All submissions will subject to a blind review. All authors of accepted abstracts will be notified through email indicating the submission of full papers.

Deadline for Extended Abstract Submission: 9 May 2016
Notification of Acceptance: 25 May 2016
Letter of Invitation for the Accepted Extended Abstracts: 1 June 2016

Author Guidelines:

The authors must adhere to the following guidelines for the submission of their work:

  • Please submit your extended abstract of approximately 1,500 words via email as ms-word file;
  • A cover page should indicate the title of the paper, the name(s) of the author(s), and their affiliation(s) and the corresponding author.
  • The main body of the document should provide the extended abstract.

Publication Opportunity:

We are in the process of developing publication opportunities in edited book volumes and special issues in a journal; after the acceptance of the extended abstracts, further information will be provided.

Conference Provisions:

  • Local hospitality (lunches and dinners) will be provided during the conference;
  • Accommodation based on bed-and-breakfast at Collingwood College (Durham University) will be provided for all the paper presenters free of charge for duration of the conference (three nights).


Durham Centre for Islamic Economics and Finance, Durham University Business School, Durham University, England

Conference Committee:

  • Mehmet Asutay, Durham University, UK
  • Ahmed El-Sayed, Durham University, UK
  • Zamir Iqbal, World Bank, Turkey
  • Zohra Jabeen, Institute of Management Sciences, Pakistan
  • Tim Jacoby, Manchester University, UK
  • Shafiullah Jan, Institute of Management Sciences, Pakistan
  • Beverly Metcalfe, Manchester University, UK
  • Karim Ullah, Institute of Management Sciences, Pakistan

Contacts for Further Information:

Professor Mehmet Asutay, Professor of Middle Eastern and Islamic Political Economy & Finance and Director, Durham Centre for Islamic Economics and Finance
Durham University Business School,
Durham University, UK

Dr Shafiullah Jan, Research Chair, Center for Excellence in Islamic Finance (CEIF)
Institute of Management Sciences (IM|Sciences),
Peshawar, Pakistan

Organising Institutions

Centre for Excellence in Islamic Finance (CEIF) – Institute of Management Sciences, Pakistan

Institute of Management Sciences (IMSciences) provides management education based on cutting edge research and comprehensive training. Being number 5th Business School in the country, IMSciences broadens its educational focus in response to new trends in the developing field of management. This is demonstrated through newly established Centre for Excellence in Islamic Finance (CEIF) in collaboration with State Bank of Pakistan (SBP) through financial support of UK’s Department of International Development (DFID). The overall strategy of CEIF is designed on threefold orientations namely academia, research and industry efforts to boost-up Islamic finance and financial inclusion through it.

CEIF offers the following programmes: MBA Islamic Banking & Takaful and PhD in Islamic Business & Finance.

Durham Centre for Islamic Economics and Finance (DCIEF), Durham University Business School, Durham University, England, UK

With its world-class reputation for being a research, education and training centre in Islamic economics, Islamic finance, banking and accounting as well as Islamic management for over twenty-five years, DCIEF aims to maintain its position as a leading provider of world-class research, education and training in Islamic economics and finance; and to provide a platform from which a vibrant research environment specializing in Islamic finance related research can be developed and sustained;

DCIEF offers the following programmes: MSc Islamic Finance; MSc Islamic Finance and Management; Ph.D by Research in Islamic Finance and Economics; Integrated PhD (1 year course work and 3 years PhD) in Islamic Finance and Economics; The Durham Islamic Finance Summer School (DIFSS).

DCIEF has established international collaborative research and training programmes, conferences and seminars with many international collaborators.