NEWS
UoB Launches the 3rd Conference on Sustainable Islamic Business and Finance The Event Reviews 77 Research Papers with the Participation of Students and Specialized Academics From 15 Countries
Sakhir – University of Bahrain (Khadijah Abdusalem)
3 October 2023
The President of the University of Bahrain (UoB), Dr. Fuad Mohammed Al-Ansari, confirmed the National University’s commitment to introducing Islamic banking and enhancing awareness of its products through the programs it offers and the events it organizes to bridge educational gaps.
In his speech during the opening of the third edition of the International Conference on Sustainable Islamic Business and Finance, the University President noted that industry experts and policy makers expect a sustainable expansion in Islamic finance, taking into account the various influential factors, explaining that the Conference aims to explore modern developments, elements of sustainability, responsible investment, and applications in Islamic business and finance.
The Conference was organized by the Deanship of Postgraduate Studies and Scientific Research and the College of Business Administration, in partnership with the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI).
Moreover, the Conference was technically sponsored by the Institute of Electrical and Electronics Engineers, and attended by academics, postgraduate students, and local and international specialists in the field of Islamic banking.
The Dean of Postgraduate Studies and Scientific Research, Dr. Athra Sayed Abbas Al-Mosawi, noted the importance of the Conference, saying: “The field of Islamic business and finance is witnessing rapid growth, and it has a decisive role in supporting the implementation of sustainable development goals. With its principles, that are based on social justice, environmental stewardship, and ethical behavior, it is consistent with the sustainable development goals that we are keen to achieve.” Dr. Al-Mosawi thanked the organizing committee, the publishing committee, and the scientific committee for their dedication and hard work to develop this edition of the Conference.
For his part, the Acting Head of the College of Business Administration, Dr. Abdullah Khaled Al-Jalahma, said: “Compliance with the Islamic economic system and the search for sustainable solutions to economic, environmental and social challenges are essential aspects of our journey towards sustainable development.” In addition, he praised the huge number of attendees who came to discuss and promote the principles of Islamic finance, with an emphasis on sustainability.
On its first day, the Conference hosted the Director General of the Islamic Development Bank Institute and Chief Economist of the Islamic Development Bank Group (IsDBI), Dr. Sami Al-Suwailem, and the professor at the Institute of Islamic Banking and Finance at the International Islamic University of Malaysia (IIUM) and a member of AAOIFI, Professor Dr. Aznan Hassan.
The Conference included several parallel sessions presenting recent developments and applications in the field of Islamic business and finance. The research papers discussed several topics, including: Islamic finance and financial inclusion, Islamic business and globalization, Islamic finance and sustainable development, Sharia governance system and Islamic finance, financial markets, institutions and tools, Green Islamic finance, entrepreneurship and small enterprises, and banking standards and practices and their compliance with Islamic Sharia.
As 77 research papers were presented by academics from several countries, including: the Kingdom of Bahrain, the Kingdom of Saudi Arabia, the United Arab Emirates, Kuwait, Jordan, Turkey, Cyprus, Australia, Pakistan, Brunei Darussalam, Malaysia, Indonesia, Nigeria, India, and Thailand.
It is worth noting that the College of Business Administration at UoB offers the Islamic Banking course (SBF270) and is studied by about six thousand students as one of the College’s requirements. It also offers a bachelor’s program in Islamic banking and finance, in addition to offering Islamic banking as a minor for all bachelor’s programs at the College. At the postgraduate level, the university offers a master’s program in Islamic finance and banking.
Due to the transformative prospects witnessed in the field of Islamic banking and finance caused by the financial technology revolution, and with the realization of its importance, the University launched a PhD program in business analysis3 years ago, which focuses on Islamic finance.
