Call for Contribution: Special Issue

Written by Flora Bungan Balang on . Posted in Uncategorised

Islamic finance and socio-economic transformation in Asia 

With an average yearly growth rate of 17 percent for a decade, Islamic finance surely has become a vitally important alternative to the mainstream finance. This massive growth has seen significant changes in financial and economic policies in Muslim-majority as well as Muslim-minority countries. Apart from changes in the legal atmosphere, the industry has experienced the growth of halal business, Shari’ah compliant financial markets, and economic development using Islamic social capital, i.e. Zakat, waqf and Islamic microcredit. As an emerging industry, Islamic finance has been facing tremendous challenges not only from their century-old conventional counterparts but also from operational inefficiency, limited ethical sufficiency, and “unmatched stakeholder expectation” standpoints. To many, the industry is yet to establish an Islamic finance model for small industries that are usually considered as the “missing middles”. We are yet to know the status and transformation of socio-economic value in the presence of this vibrant industry. Has Islamic finance been really successful in initiating a sustainable socio-economic transformation? 

This special issue with IJBS intends to undertake strong theoretical and empirical examinations of this question. The issue will emphasize but not limit the contributions to Asian economies. We are expecting original, unpublished and full-length contributions broadly in the following areas:

  1. Revisiting the performance and challenges of Islamic banks
  2. Islamic financial markets and economic development 
  3. Islamic social finance, inequality and sustainable development
  4. Financing Islamic businesses – opportunities and challenges
  5. Takaful and financial stability 
  6. Sukuk, long-term project management and socio-economic development
  7. Microcredit and sustainable livelihood 
  8. Ethics in, social responsibility and governance of Islamic organisations 
  9. Regulations and reforms affecting performance of Islamic financial institutions 
  10. Harmonisation of Shari’ah guidelines in cross-border financial contracts 
  11. Challenges to existing Islamic legal frameworks 

Guest Editors:

Professor Dr Kabir Hassan, University of New Orleans, United States
Dr Mamunur Rashid, University of Nottingham Malaysia Campus, Malaysia 

Submission and IJBS:

IJBS is a double-blind reviewed international scholarly journal devoted in publishing high-quality papers using multidisciplinary approaches with a strong emphasis on business, economics and finance. The articles in IJBS are indexed in Scopus bibliographic database, ProQuest publisher, Ulrich's Periodicals Directory, Cabell's Directories (Economics, Finance and Management) and EBSCO Host Publishing, SCImago Journal and Country Rank, Emerging Source Citation Index (Thomson Reuters), Asean Citation Index, and Malaysian Citation Index (MYCITE).

Manuscripts should be submitted electronically to the managing editor Associate Professor Dr Evan Lau at This email address is being protected from spambots. You need JavaScript enabled to view it.. Please make sure that you follow the manuscript preparation instructions that are available at this link (click here). Authors may contact Professor Kabir Hassan at This email address is being protected from spambots. You need JavaScript enabled to view it. or Dr Mamunur Rashid at This email address is being protected from spambots. You need JavaScript enabled to view it. for further information on the special issue. 

The deadline for the submission is December 31, 2016.