Islamic Venture Capital and Entrepreneurship in Islamic Finance – Call for Papers: First International Conference on Entrepreneurship, Leadership and Sustainable Development Global Entrepreneurship: Connected continents, new opportunities

Please let know if you have any topics related with Islamic venture capital or entrepreneurship in Islamic finance. This can be added to the conference. email : jmfaleel@ymail.com

Call for Papers: First International Conference on Entrepreneurship, Leadership and Sustainable Development Global Entrepreneurship: Connected continents, new opportunities

At Effat University in Collaboration with World Entrepreneurship Forum Jeddah – Saudi Arabia – May 04-05 2015

Advisory Board is pleased to announce the Call for Papers for the First peer reviewed International Conference on Entrepreneurship, Leadership and Sustainable Development at Effat University Jeddah Saudi Arabia.
Papers to be published in Journal of Entrepreneurship, Leadership and Sustainable Development, joint publication from United Kingdom by Effat University, World Association of Sustainable Development and Brighton University.

Conference Themes

The Conference will address a range of critically important issues and themes relating to the Entrepreneurship, Leadership and Sustainable Development community. Plenary speakers include leading thinkers in the field.
Abstracts for paper presentations or posters/exhibits on the issues through one of the following themes:

1. Entrepreneurship in Middle East
2. Female Entrepreneurship in Middle East
3. Ecosystem Strategy of Entrepreneurship Development
4. Entrepreneurship as a Means of Global Connectivity
5. Innovation to foster Entrepreneurship
6. Maternalistic Leadership
7. Leadership
8. Development of Young Leaders
9. Sustainable Development in Middle East
10. Entrepreneurship Practice / Family Businesses

Abstracts beyond these thematic areas but within broader framework above will also be considered.
On payment of a fee the Presenters will also have the chance to:
• Perform Umra • Desert Night • Snorkeling in Red Sea • Historic Jeddah City Visit

To Submit abstract or a Paper

entpconf@effatuniversity.edu.sa

Securing Visa for Saudi Arabia is a long and complicated process. Please send the copy of passport and 100 words biographical sketch along the abstract/paper for processing of the visa by Effat University.
Deadlines
• Submission of Abstract – March 07, 2015
• Result of Peer review – March 14, 2015
• Submission of Paper – April 21, 2015

Registration

US$: 200.00 or SR. 750 (Two Hundred United States Dollars or Seven Hundred and Fifty Saudi Riyals)

International Congress on Islamic Economics and Finance (ICISEF)

Call for Papers
International Congress on Islamic Economics and Finance (ICISEF)
October 21-23 October 2015
Sakarya, Turkey
Event Website: http://www.icisef.org/en
There has been growing interest in the field of Islamic Economics and Finance across the World, Muslim and non-Muslim countries alike. The stunning interest toward Islamic financial services stems from the fact that Islamic finance is growing much faster than the conventional one. Global Islamic investments have been reached to a great magnitude. However, this interest puts pressure and responsibility on the researchers and the professionals in the field of Islamic Economics and Finance to develop and promote truly Islamic ways of finance, investment and business.
To this end, Sakarya University, one of the leading institutions in Turkey in Islamic Economics and Finance, is organizing an international congress on Islamic Economics and Finance. The University is the first one in Turkey with its pure graduate program in the area of Islamic Economics and Finance and offers many elective undergraduate courses as well. Sakarya University has been organizing workshops in the field.“Islamic Economics and Finance Education”, “Public Participation Banking”, and “Financial Engineering and Fatwa Processes” have been the topics covered in the workshops so far. Now, the University has decided to organize first international congress on Islamic Economics and Finance in collaboration with Durham University, UK.
International Congress on Islamic Economics and Finance (ICISEF) will be held during 21-23October, 2015.The objective of ICISEF-2015 is to provide a platform for researchers, academicians as well as industrial and business professionals from all over the world to present their research papers in the area of Islamic Economics and Finance. It is expected that ICISEF-2015 would serve as a discussion forum and platform and that strengthen the link between academia and industry.
The Institute of Social Sciences and the Research Center for Islamic Economics and Finance at Sakarya University cordially invite abstracts and full length research papers from researchers to address any area of Islamic economics and finance including but not limited to:

Islamic Economics
Real sector
Business Ethics
Consumer Ethics
Zakat
Income distribution, poverty
Labor disputes
Waging practices
Behavioral economics
Government
Pricing
Developmental issues
Islamic Banking
Financing modes
Risk management
Islamic Banking practice
Liquidity Management
Corporate social responsibility
Accounting in Islamic Banking
Islamic Capital Markets
Sukuk
Islamic indices and mutual funds
Asset management
Islamic financial literacy
Takaful
Islamic ratings
Islamic Business
Marketing ethics
Leadership
Corporate governance and social responsibility
Taxation
Hiring practices
Halal industry
Fiqh
Fatwa procedures
Shariah boards
Differences in FiqhJurisdictions
Halal food
Dispute settlements

Papers in Turkish, English and Arabic are welcome and simultaneous translation will be provided.
“Best paper” award will be granted for a paper for each of the following categories: Islamic Economics, Islamic Finance, Islamic Banking,Fiqh, and “young academician”
The papers presented in ICISEF-2015 will be considered for publication in the Research Journal of Islamic Economics and Finance (REJIEF)

Weekly Industry Update

Najib on need for revolutionary Islamic finance method – See more at:

Pakistan central bank to phase in new Islamic finance rules read more

U.K. Dream of Becoming Islamic Hub Needs Corporate Assist read more

AAOIFI Widens its Global Role To Better Serve & Develop Islamic Finance read more

Sri Lanka Islamic Finance : Dismal Islamic Finance Growth Disappoints Industry read more

‘Revolutionary’ method in Islamic finance can help Muslim countries – M’sian PM read more

The global financial crisis raised a number of serious questions about the conduct and regulatory oversight of financial markets read more

Islamic Participatory Microfinance by Bank of Khartoum – I – By Dr Mohammed Obaidullah

The name is now familiar among Sudan’s poor, unemployed and recent pass-outs from universities. The Irada program of Bank of Khartoum is experimenting with new and innvovative models of intervention to make a dent on chronic social problems, such as, poverty and unemployment. As part of the Sudanese economic system, it operates as a Shariah compliant bank. At the same time, it uses participatory modes within a model that is rooted in cooperation to create and share wealth in the agriculture sector, something that is not quite aligned with mainstream Islamic commercial banking with murabaha-centric portfolios. As such, it has set an example that in a way redefines “for-profit” commercial banking. Not surprisingly therefore, it was adjudged to be among the top three finalists at the Global Islamic Microfinance Challenge 2014 organized by the CGAP (Consultative Group to Assist the Poor), the Islamic Development Bank, Al Baraka Banking Group, and Triple Jump , which evaluated innovative Islamic microfinance experiments with a focus on product development.

A Parnership to Create and Nurture Partnerships

In 2002, Bank of Khartoum (BoK) was registered as a private limited company and subsequently was acquired and managed by Dubai Islamic Bank, the largest Islamic Bank from United Arab Emirates by purchasing 60% of the government shares in 2005. Bank of Khartoum operates under Islamic Banking Standards and has a comprehensive suite of retail services including a network of 58 branches. Its product portfolio includes auto finance, home finance, education finance and takaful. It has embraced hi-tec banking with 137 ATMs, internet banking and mobile banking, SMS alerts, discount and supplementary cards and has the first and only call center.

BoK offers services to corporate, retail, microfinance and investment business segments; it also owns various subsidiaries in trade, exchange, brokerage, and commercial real estate. The equity of the bank as of Dec 2012 is SDG 860 Million. Headquartered in Khartoum, BoK has 1300 employees. Its major shareholders include local and regional businessmen and various institutions such as Dubai Islamic Bank (DIB), the Islamic Development Bank, Abu Dhabi Islamic Bank, Sharjah Islamic Bank and United Arab Emirates Etisalat.

The Bank of Khartoum’s Microfinance Department (IRADA) was established in 2009 with the support and assistance from the Islamic Development Bank. The department was given the trust to implement the SDG 200 million Al-Aman fund for Microfinance. The fund was formed by a strategic partnership between the Diwan Zakah (apex body fo zakat management in Sudan) and 32 Sudanese Commercial Banks.

read more

Weekly industry update

Lawmakers, sukuk debutantes open Africa to Islamic finance

By Bernardo Vizcaino

(Reuters) – African markets are gradually opening to Islamic finance, buoyed by governments’ debut sales of sovereign sukuk (Islamic bonds) and legislative efforts to make the sector more attractive for companies across the region.

Despite the strong growth of Islamic finance in its core markets, the Middle East and southeast Asia, the industry has lagged in Africa, which is home to one in four of the world’s Muslims. This year, however, a string of transactions is helping to broaden the sector.

Governments across the continent are using sukuk as a way to attract cash-rich Islamic investors, with South Africa making a $500 million issue in September and Senegal raising 100 billion CFA francs ($208 million) in June.

read more

US MUSLIM JURISTS RESOLUTION ON ISLAMIC FINANCE COMPANIES
The issue of purchasing a house through Islamic financing has been written about in detail by experts and intellectuals for the past decade or so. However, it appears that majority of American-Muslims are either in doubt or are misinformed about the validity of the actual practice (buying homes through ‘halal mortgages’ or loans). Many prospective home owners dismiss all Islamic home loans as problematic or interest based loans candy coated in Islamic terminology.

read more

Turkey has potential but needs reforms for Islamic insurance read more

Japan’s JICA ties with Islamic Development Bank arm, eyes Jordan sukuk

JICA joins other development agencies such as the World Bank and the Asian Development Bank in building links with Islamic finance.

Sukuk, investment certificates which follow religious guidelines such as bans on interest and monetary speculation, have over the past year grown in prominence as a funding tool beyond the industry’s core markets of the Middle East and southeast Asia. read more

Islamic Microfinance is an effective tool of Financial Inclusion read more

Business Zakat Accounting: Fiqhi Basis by Dr Mohammed Obaidullah

The available zakat accounting standards as well as laws governing business zakat reflect a sort of consensus that adjusted net working capital of a business may be regarded as the base for computation of zakat liability of a business. The second accepted alternative is the adjusted growth capital which essentially arrives at the same outcome, given the accounting equality between total assets and total liabilities and equity in the balance sheet of a business organization. The apparent consensus follows from fiqhi prescription of imposing zakat on urud al-tijarah or the inventory of goods available for trade.

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Zakatability of Urud Al-Tijarah

We briefly summarize below the fiqhi basis for zakat liability on urud-al-tijara. The full line of arguments and counterarguments are available in chapter 4 of the text Fiqh Al-Zakat by Dr Yusuf Al-Qaradhawi.

Urud al-tijarah, according to Islamic jurists implies business inventory, which means any commodities obtained for the purpose of resale for profit, except liquid monetary assets. Some jurists define ‘urud al tijarah as anything that one buys in order to sell for profit. We quote here from the work of Dr Qaradhawi the evidence from the Qur’an, the Sunnah and Ijma for zakat obligation on business inventory.

The Quran

“O ye who believe, give of the good things which ye have honorably earned, and of the fruits of the earth which we have produced for you.” (Surah Al-Baqarah No.2, Verse: 267)

Scholars interpret the words ‘that you have earned’ as things earned by means of trade, and the words ‘that we have produced from the earth for you’ as things earned by means of agriculture. This is supported by other verses about zakah that are general and therefore include business assets, such as the verses:

“and on their wealth and possessions there is the right for he who asked and he who is deprived,” (Surah al Dhariyat, 51:19)

“and on those in whose wealth is a recognized right for he who asks and he who is deprived,” (Surah al Ma’arij, 70:24-25)

and

“Out of their goods take sadaqah so by it thou might purify and sanctify them.” (Surah al Tawbah, 9:103)

The Sunnah

Abu Daud reports from Samurah bin Jundub that ” the Prophet (p) used to order us to pay al sadaqah out of what we have for sale.” (Mukhtasar Al Sunan, Vol. 2, p.175)

Al Daraqutini reports Abu Dharr “I heard the Messenger of God (p) saying ‘Camels are zakated, lambs are zakated, and clothes and housewares are zakated.” (Al Muhalla, Vol. 5, pp. 234-235)

There is no disagreement that clothes and other housewares for personal or household use are exempt, which means that housewares and clothes mentioned in this saying refer to business inventory for resale. This is in addition to the general sayings that obligate zakah on all kinds of wealth without discrimination, such as “give zakah on your wealth.” (Al Tirmidhi, Vol. 3, p. 91)

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