4Th asean international conference on islamic finance (aicif2016)

BACKGROUND
Since the establishment of the first Islamic bank in the 1970s, the Islamic banking and finance industry continues to stage remarkable growth. Today, total asset of the Islamic banks is estimated to reach US$1.7 trillion, recording double-digit growth since 2000. More generally, total assets of the Islamic financial institutions have reached an estimated US$2.14 trillion in 2015 and expected to further expand to US$3.7 trillion by 2020.

Amid the rapid growth of the industry globally, Malaysia has been at the forefront with total Islamic asset accounting for nearly 13% of the global Islamic finance industry and 8% of the global Islamic banking assets (SESRIC, 2012; Ernst and Young, 2013). At the domestic front, the Islamic banking asset stood at US$169.1 billion in 2014, equivalent to 26% of the country’s total banking sector asset. The sector also continued to stage impressive growth of 24% per annum in the period 2008-2012 despite the extremely difficult financial and economic scenario in view of the global financial crisis which started in the US in 2007/2008. There have also been similarly encouraging developments of the Islamic finance industry in many of the ASEAN countries.

Given the increasing presence of Islamic banking and finance in the global financial scenario, it is indeed, crucial and timely to evaluate the current state of Islamic finance as well as to highlight the issues and challenges facing the industry today. Current development in the Islamic finance industry today seemed to pose a challenge, particularly with the development of innovations such as fintech. A re-assessment of the current state of the Islamic finance industry is highly important as it would enable effective and constructive recommendations to the various Islamic banking and finance stakeholders including the customers, practitioners, policy-makers and academia.

CONFERENCE OBJECTIVE
The objectives of the conference are as follows:
•    To discuss and evaluate latest development in Islamic banking and finance
•    To highlight issues and challenges facing the industry today
•    To provide recommendations to Islamic banking and finance stakeholders upon the  future direction of Islamic banking and finance
•    To strengthen the relationship among universities in ASEAN which are offering Islamic banking and finance program by having a jointly organized international conference

CONFERENCE THEME
•    Islamic Banking and Capital Market
•    Governance of Islamic Financial Institutions
•    Payment System / Non-Bank Financial Institutions (NBFIs)
•    Takaful and Risk Management of Islamic Financial Institutions
•    Islamic Social Finance: Microfinance Financial Inclusion, Financial Literacy
•    Impact of Financial Innovations on Islamic Finance

PUBLICATION OPPORTUNITIES
•    Intellectual Discourse
•    Humanomics (Scopus + Emerging Sources Citation Index - Thomson Reuters)
•    Journal of Economic Cooperation and Development (Scopus)
•    Journal of Islamic Finance
•    Global Review of Islamic Economics and Business
•    International Journal of Islamic Business Ethics

Important Deadlines
1.      Abstract Deadline: 15 September 2016
2.      Full Paper Deadline: 31 October 2016
3.      Acceptance Notification: 15 November 2016

Organised By

IIUM Institute of Islamic Banking and Finance
International Islamic University Malaysia