Industry Updates

Welcoming the golden age read more

Bitcoin Startup Company Helps Muslims Get Loans read more

SME Bank targets 90pc Islamic financing portfolio read more

Islamic finanrce needs good talent to help it develop read more

US startup brings innovative Islamic microfinance to Indonesia read more

Thomson Reuters named “Best Research House” read more

Final approval for takaful law expected soon; industry constitutes 6% in total business read more

Third annual Ethical Finance Innovation Challenge AND Awards (EFICA)

Thomson Reuters, in partnership with Abu Dhabi Islamic Bank, is proud to announce the launch of the third annual Ethical Finance Innovation Challenge & Awards (EFICA). The global awards champion new ideas that strengthen and advance ethics in finance to transform the global financial industry. EFICA is open to all.

The response to EFICA in 2013 and 2014 has been nothing short of encouraging for the future of the global financial services industry. We received over two hundred applications from individuals and organisations around the world from different sectors and backgrounds. Similar to the process in previous years, we will shortlist the best submissions to progress to workshops with the advisory board. Winners are then selected, by audience vote, during the EFICA gala dinner which gathers industry peers and experts.

read more

The lack of equity finance – really a problem of moral hazard?

by : Michael Gassner, Editor of

Michael Gassner, Editor of presented on the 3ème Congrès International de la Finance Islamique “Les Banques Islamiques et le Financement des Entreprises: Pratiques et enjeux théoriques” en Marrakech, 25/26 Mai 2015.

The presentation discussed that exponential growth of debt in Islamic finance is ruled out, nevertheless, debt and equity finance exists. The specific significance of equity finance (musharaka, mudaraba) lies in need for solid debt/equity ratio, as Muslims shall never die being in debt. Still Islamic banks barely provide any equity finance and the reason often given are moral hazard costs. This is denied as debt as well as equity has specific moral hazard problems, and if anything, even conventional banks would offer a mixture of debt and equity. Rather the assumed reason appears to be in the regulation (capital weight) and taxation (interest deductibility), which makes equity financing from a bank 2-4 times at least more expensive than debt finance, and thus not worth being offered.

The attached presentation is in French.

The organiser of the conference was the Groupe de recherche en Innovation, Responsabilités et Développement Durable (INREDD, UCA, Marrakech) Et the Bernoulli Center for Economics (BCE, Université de Basel, Suisse).

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 :

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

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.
• Submission of Abstract – March 07, 2015
• Result of Peer review – March 14, 2015
• Submission of Paper – April 21, 2015


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