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During the last 30 years Islamic banking and finance has contributed significantly to the
development of financial sectors and deepening of financial markets in several countries thus
contributing to economic development. As Islamic banking and finance is expanding
worldwide, its systemic importance for the stability of national, regional and global financial
system is also increasing fast. Since Islamic banking makes financial services relevant for a
wide population segment, the combination of the premise of Islamic finance with the
implementation of internationally accepted standards of best practices, is expected to
enhance wider access to more efficient and stable financial services.
Therefore, the State Bank of Pakistan, and the Islamic Development Bank/Islamic Research
and Training Institute, Jeddah have decided to jointly organize the Third International
Conference on Islamic Banking and Finance: Risk Management, Regulation and Supervision,
to be held in Karachi Pakistan during April 2008. The first and second conferences in this
series were respectively co-organized/hosted by Ministry of Finance Indonesia and Bank
Indonesia during 2003 and Bank Negara Malaysia and the Islamic Financial Services Board
during 2005. Objectives of the conference include: Taking stock of the relevance of Islamic
banking and finance for inclusive financial sector development, banking and financial stability,
studying the unique risks of Islamic banking and finance and facilitating the development of
risk management culture in the Islamic financial institutions by prudential regulation and
effective supervision.
Empirical as well as theoretical papers are invited in the following and related areas:
FINANCIAL STABILITY; Factors effecting financial stability, role of paradigm and support
institutions in ensuring financial stability, empirical works on the stability of Islamic banks visà-
vis traditional banks during financial distress, Southeast Asian financial crisis and relative
performance of Islamic financial institutions, early warning systems such as the balance-sheet
approach and their suitability for emerging economies,
COMPARATIVE FINANCIAL SYSTEMS; Comparing the paradigms of universal banking,
Islamic banking and traditional banking and its implications for leveled playing field, crosssector
consolidation of activities and cross-sector risk transmission, implications for banking
supervision,
UNIQUE RISKS OF ISLAMIC MODES OF FINANCE; Systemic risks, credit risks, market
risks, fiduciary risks, liquidity risks etc., particularly stemming from the unique asset and
liability structures of Islamic banks due to Shari'ah compliance, perception of banks and
regulators regarding these risks, financial risks underlying Sukuk structures,
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SLAMIC FINANCIAL ARCHITECTURE; An in-depth analysis of the challenges facing the
infrastructure institutions of the Islamic finance industry: (i) Shari'ah Supervisory Boards, (ii)
Accounting and Auditing Organization for Islamic Financial Institutions, (iii) Islamic Financial
Services Board, (iv) International Islamic Rating Agency, (v) International Islamic Financial
Market, (vi) Arbitration and Reconciliation Center for Islamic Financial Institutions), interaction
with the international financial architecture,
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FSB STANDARDS & BASEL II AND ITS IMPLICATIONS FOR ISLAMIC BANKS; Capital
requirements, credit risk weighting of assets (standardized and internal rating based
approaches), treatment of leases, micro finance, project finance, operational risks, market
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risks, securitization and Islamic banking and market disciplines, and implications of
supervisory review process,
RISK MANAGEMENT INSTRUMENTS AND SYSTEMS; Case studies from Islamic banks,
theoretical studies of risk management instruments and systems (risk reporting, internal rating
systems, market and credit VaR, RAROC, collateral, loan loss provisioning, swaps and
futures, credit derivatives, contractual risk mitigation etc),
CORPORATE & SHARIAH GOVERNANCE; corporate governance issues specially
confronted by the different segments of the Islamic financial services industry
UNRESOLVED FIQHI ISSUES IN ISLAMIC BANKING AND FINANCE; Fiqh appraisal of risk
management instruments and developing alternatives or adapting instruments, treatment of
defaults, operating vis-à-vis financial leases, asset securitization, importance of managing
bank capital and its implications for business risk etc,
CASE STUDIES IN REGULATION AND SUPERVISION OF ISLAMIC BANKS; Islamic
banking regulation and supervision, Shariah compliance a matter of regulation or market
discipline, Application of supervisory risk assessment tools (CAMELS etc), risk weighting of
assets of Islamic banks, treatment of investment and current accounts, sources of capital,
disclosure and transparency requirements, applications of international standards, financial
reporting and disclosures, compliance with Core Principles etc, comparatives systems of
effective Islamic banking supervision,
FINANCIAL INCLUSION & FINANCIAL SECTOR DEVELOPMENT POLICIES; supportive
environment with special emphasis on financial inclusion - deposit insurance, legal & tax
framework, market microstructures, monetary and fiscal policy response, LLR facilities etc for
strengthening the Islamic financial institutions,
CHALLENGES OF SOVERIGN WEALTH FUNDS
The rise of sovereign wealth funds, the changing nature of globalization and its implications
for Islamic financial services industry
All submissions shall preferably be electronic and in MS Word format. Submissions should be
original contributions and will go through a rigorous evaluation process. Most selected papers
will be revised. Selected papers will be the copyright of the conference organizers.
One author of each selected paper will be provided by IRTI an economy class return ticket
from his work place to Karachi Pakistan for paper presentation and hotel and local hospitality
in Karachi for the period of the conference.
DATES TO WATCH:
Submission of Abstracts: September 15, 2007
Submission of Papers December 15, 2007
Decision on Paper December 31, 2007
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