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School of Government & International Affairs

Staff Profiles

Dr Mehmet Asutay, BA, MSc, PgDip, MA, PhD

Reader in Political Economy (Middle East and Islamic Political Economy and Finance) in the School of Government and International Affairs
Reader in Middle East & Islamic Political Economy & Finance in the Business School
Telephone: +44 (0) 191 33 47179
Fax: +44 (0) 191 33 45201
Room number: MHL 378

Contact Dr Mehmet Asutay (email at mehmet.asutay@durham.ac.uk)

Biography

Mehmet has a BA in Public Finance from the University of Istanbul (Turkey); continued for MSc in Public Finance at the University of Istanbul; has Postgraduate Diploma in Economic and Social Policy Analysis, University of York (UK); MA in Economics of Public Policy, Department of Economics of the University of Leicester (UK); Ph.D. in Political Economics, University of Leicester.

Mehmet teaches and supervises research on Islamic Political Economy; Islamic Moral Economy; Islamic Banking, Finance and Management; Political Economy of Development in the Middle East including Turkish Political Economy and Kurdish Political Economy.

He is the Director of Durham Centre for Islamic Economics and Finance; and is the Programme Director for MSc in Islamic Finance and MSc in Islamic Finance & Management; and also the Director of the Durham Islamic Finance Summer School.

Mehmet is the Managing Editor of the Review of Islamic Economics; and is an Associate Editor of the American Journal of Islamic Social Science; and in the Editorial Board of International Journal of Islamic and Middle Eastern Finance and Management and Borsa Istanbul Review.

He is the Honorary Treasurer of the BRISMES (British Society for Middle Eastern Studies); and of the IAIE (International Association for Islamic Economics).

Current Research

Mehmet's recent research includes the construction of Islamic moral/political economy, which is considered as an incomplete project since early 1970s. By following the earlier contributions made by the founding fathers, Mehmet aims to systemise Islamic political economy as the defining framework for the moral or social economy aimed at by Islamic economics, a term that falls short of the aspirations. Secondly, Mehmet develops the discourse around ‘social and developmentalist failure’ of Islamic banking and finance in relation to the expressed ideals of Islamic moral economy. In reflecting on the political economy nature of Islamic finance, he is also researching the political economy of Islamic finance related developments in various parts of the world (particularly in Turkey, Malaysia and Indonesia). Mehmet also involved in empirical research in various aspects of Islamic finance.

Mini Biography

Reader in Political Economy (Middle Eastern and Islamic Political Economy & Finance)

Director, Durham Doctoral Training Centre in Islamic Finance

 

Research Groups

School of Government and International Affairs

  • Politics of the Muslim World

Business School

Durham Centre for Islamic Economics and Finance

  • Islamic Economics and Finance

Research Interests

  • Islamic Moral Economy
  • Islamic Finance, Banking and Management
  • Political Economy of Development - Middle East, Turkey amd Kurds
  • Political Economics, Public Choice, and Public Sector Economics

Teaching Areas

  • Islamic Political Economy; Islamic Economics; Islamic Finance

Indicators of Esteem

  • Associate Editor, American Journal of Islamic Social Sciences, since 2009:
  • Managing Editor, Review of Islamic Economic, since 2000:
  • Member of the Editorial Advisory Board, International Journal of Islamic and Middle Eastern Finance and Management, since 2011:
  • Member of the International Editorial Advisory Board, International Journal of Innovation and Business Strategies, since 2011 :
  • Member of the International Editorial Board, Borneo Journal of Business and Economics, since 2010 :

Publications

Articles: magazine

  • Asutay, M. (2012). Islamic Economics: Between Aspirations and Reality. Papers of Dialogue 3 July - September: 20-23.
  • Asutay, M. & Marzban, S. (2012). Standing Out with the Crowd. The Banker (Special Issue: Top Islamic Financial Institutions, November): 28-29.
  • Asutay, M. (2012). The Socio-Ethical Failure in Islamic Banking and Finance. New Horizon (182 January - March): 33-35.
  • Asutay, M. (2010). Considering the Dichotomy between the Ideals and Realities of Islamic Finance. New Horizon (174 January - March): 32.
  • Asutay, M. (2008). Islamic Banking and Finance: Social Failure. New Horizon (169 October - December.): 1-3.
  • Asutay, M. (2007). Two Track Development: The Future of Islamic Finance in Turkey. Islamic Business and Finance (22 (September): 12-13.

Articles: review

Books: authored

Books: edited

  • Asutay, M. & Turkistani, A. (2014). Islamic Finance: Performance and Efficiency. Berlin: Gerlach.
  • Asutay, M. & Turkistani, A. (2014). Islamic Finance: Political Economy, Values and Innovations. Berlin: Gerlach.
  • Asutay, M. & Turkistani, A. (2014). Islamic Finance: Risk, Stability and Growth. Berlin: Gerlach.
  • Ahmed, H., Asutay, M. & Wilson, R. (2013). Islamic Banking and Financial Crisis: Reputation, Stability and Risks. Edinburgh: Edinburgh University Press.

Books: reviews

  • Asutay, M. (2003). A Modern History of the Kurds. The Muslim World Book Review 24: 47-53.
  • Asutay, M. (2002). Money, Land and Trade: An Economic History of the Muslim Mediterranean. Review of Islamic Economics (12): 109-112.
  • Asutay, M. (2002). Privatisation and the Creation of a Market-Based Legal System: The Case of Eqypt. The Muslim World Book Review 23(4): 51-55.
  • Asutay, M. (2002). The Turkish Republic at 75 Years. The Muslim World Book Review 23(1): 41-42.
  • Asutay, M. (2002). Westernizing the Third World: The Eurocentricity of Economic Development Theories. The Muslim World Book Review 22(4): 26-30.
  • Asutay, M. (2001). Bandits and Bureaucrats: The Ottoman Route to State Centralization. The Muslim World Book Review 21(4): 29-33.
  • Asutay, M. (2001). Identity Politics in Central Asia and the Muslim World: Nationalism, Ethnicity and Labour in the Twentieth Century. Encounters: Journal of Inter-Cultural Perspectives 7(2 (September): 231-233.
  • Asutay, M. (2001). The Revolution of 1908 in Turkey. American Journal of Islamic Social Science 18(2 (Spring): 172-185.
  • Asutay, M. (2000). A History of Middle East Economies in the Twentieth Century. The Muslim World Book Review 20(4 (Summer): 31-34.
  • Asutay, M. (1999). State and Business in Modern Turkey: A Comparative Study. The Muslim World Book Review 19(4 (Summer): 33-35.

Edited works: contributions

  • Asutay, M. & Marzban, S. (2014). Alternative Ways of Developing GCC Islamic Funds Industry: Entrepreneurial Development. In Islamic Finance: Political Economy Perspectives. Asutay, M. & Turkistani, A. Berlin: Gerlach.
  • Shariff, M., Aniza, R., Aladwani, T. & Asutay, M. (2014). An Empirical Study of Perceived Service Quality of Islamic Banks: A Comparison between Malaysia and Kuwait. In Islamic Finance: Performance and Efficiency. Asutay, M. & Turkistani, A. Berlin: Gerlach.
  • Eid, W. & Asutay, M. (2014). Mapping the Risks and Risk Management Practices in Islamic Banking. In Islamic Finance: Risk, Stability and Growth. Asutay, M. & Turkistani, A. Berlin: Gerlach.
  • Alandejani, M. & Asutay, M. (2014). Measuring the Technical Efficiency and Technology Gaps of Islamic and Conventional Banks in GCC Countries and Determining the Efficiency of the Banks. In Islamic Finance: Performance and Efficiency. Asutay, M. & Turkistani, A. Berlin: Gerlach.
  • Aksak, E. & Asutay, M. (2014). The Maqasid and the Empirics: Has Islamic Fulfilled its Promise? In Islamic Finance: Political Economy, Values and Innovations. Asutay, M. & Turkistani, A. Berlin: Gerlach.
  • Asutay, M. (2013). Developments in Islamic Banking in Turkey: Emergence, Regulation and Performance. In Islamic Finance in Europe: Towards a Plural Financial System. Cattelan, V. Cheltenham: Edward Elgar Publishing.
  • Asutay, M. (2013). Islamic Moral Economy as the Foundation of Islamic Finance. In Islamic Finance in Europe: Towards a Plural Financial System. Cattelan, V. Cheltenham: Edward Elgar Publishing.
  • Asutay, M. (2010). Deconstructing and Moderating the Functioning and Consequences of Political Manipulation of the Economy in Turkey. In Understanding the Process of Institutional Change in Turkey: An Institutional Approach. Cetin, T. & Yilmaz, F. New York: Nova Science Publishing.
  • Asutay, M. (2010). Islamic Banking and Finance and Its Role in the GCC and the EU Relationship: Principles, Developments and the Bridge Role of Islamic Finance. In The EU and the GCC: Challenges and Prospects under the Swedish EU Presidency. Stenberg, L. & Koch, C. Dubai: Gulf Research Center. 35-58.
  • Asutay, M. (2010). Islamic Microfinance: Fulfilling Social and Developmental Expectations. In Islamic Finance: Instruments and Markets. Q-Finance. London: Bloomsbury.

Journal papers: academic

Journal papers: online

Supervises