Islamic Monetary System
7th Islamic Economics Workshop
5 April 2019 Friday to 7 April 2019 Sunday
Marmara University
Important Dates

Application and sending abstracts: 31.10.2018
Announcement of the accepted abstracts: 31.12.2018
Sending full texts: 05.02.2019
Announcement of the accepted full texts: 01.03.2019


Workshop Secretary
Ahsan Shafiq
Research Center for Islamic Economics (IKAM)
+ 90 216 310 43 18

Research Center for Islamic Economics (IKAM) in collaboration with Scientific Studies Association (ILEM) and Turkish Entrepreneurship and Business Ethics Association (IGIAD) will organize 7th Islamic Economics Workshop, which will be hosted by Marmara University from 5 to 7 April, 2019. The theme of this year’s workshop is “Islamic Monetary System”.

A major part of problems existing in contemporary economies are attributed to the existence of fiat currencies. The current monetary system is not only a key source of exorable increase in interest rates but also a principal cause of inflation and collapse in value of money in many countries. This modern usurious alchemy is at the heart of fractional reserve banking and its controversial ability to create fictional purchasing power by charging interest on money. The challenges in international context are equally abstruse where few reserve currencies are ruling over international market with exorbitant advantage over others leaving the weaker ones exposed to daily artificial fluctuations of exchange rates.

An Islamic monetary system is certainly a solution theoretical foundations for which have long been laid by pioneers of Islamic Economics discipline. The pioneers have blazed the trail, what is left is the development of a comprehensive theory of Islamic monetary economics. Hence, this year’s workshop’s aim is to argue, debate and elucidate misconceptions related to monetary conundrum in Islamic Economics. Experienced academia from Islamic Economics discipline would offer different perspectives, critically evaluate the existing works and propose suggestions for reducing differences to set a common future course of action. In this framework, topics that will be covered in the workshop related to the issue of “Islamic Monetary System” should address but are not restricted to the following issues:

1. Reputation, risk-taking and monetary policy in Islamic economy
2. Money creation from Islamic perspective
3. The theory of the financial intermediation from Islamic perspectives
4. Capital requirements, systematic risk and monetary policy
5. The importance and needs of macro-prudential in Islamic monetary policy
6. Fiat Money, Gold Standard, Islamic Currency and the Gold Dinar
7. The interaction between the Islamic financial system and the macroeconomy
8. Role of central bank/supervisory in Islamic monetary policy
9. Fundamentals of integrated commercial and social finance in Islamic perspective
10. Time Value of Money
11. Reserve Currency and implications: Islamic Perspectives
12. Islamic Monetary Union: Prospects and Implications
13. Crypto Currency

Submission of Papers
Abstracts are expected be sent to the workshop at until 30 November 2018. The final acceptance for participation in the workshop will be decided through full texts. Articles that are sent to the workshop should be authentic, not having been published or presented in any other program or publication.

Travel and Accommodation
The workshop is envisioned as a meeting of minds among thinkers, scholars and practitioners in a limited number. Authors of the accepted papers will be covered for round-trip economy class air ticket and hotel accommodation during the workshop. Accommodation and travel expenses of the participants will be met by the organization.

The papers presented at the workshop will be reviewed and considered for publication in an edited book that will be published by Iktisat Publications following the conference.

Organizing Committee

Fatih Savaşan, Sakarya University
Lütfi Sunar, Istanbul Medeniyet University
Necmettin Kızılkaya, Istanbul University
Süleyman Kaya, Sakarya Üniversitesi
Taha Eğri, Kırklareli University
Zeyneb Hafsa Orhan, Istanbul Sabahattin Zaim University

Scientific Advisory Board

Abdulazeem Abozaid, Emirates Islamic Bank
Abdullah Durmuş, Istanbul University
Adem Esen, Istanbul University
Ahmet Faruk Aysan, Boğaziçi University
Asad Zaman, Pakistan Institute of Development Economics
Burhanettin Can, İGİAD
Cengiz Kallek, İstanbul Şehir University
Erkan Erdemir, İstanbul Şehir University
Fahim Khan, Riphah Center of Islamic Business
Fatih Savaşan, Milli Savunma University
Feridun Yılmaz, Uludag University
Gülfettin Çelik, Istanbul Medeniyet University
Haluk Songür, Süleyman Demirel University
Lütfi Sunar, Istanbul Medeniyet University
Mahmut Bilen, Sakarya University
Masudul Alam Choudhury, University of Malaya
Mehmet Babacan, Istanbul Medipol University
Mehmet Saraç, Istanbul University
Murat Şentürk, Istanbul University
Murat Taşdemir, Medeniyet University
Murteza Bedir, İstanbul University
Necdet Şensoy, TCMB
Necmettin Kızılkaya, İstanbul University
Nihat Erdoğmuş, İstanbul Şehir University
Nurullah Gür, Medipol University
Sabri Orman, TCMB
Servet Bayındır, İstanbul University
Şakir Görmüş, Sakarya Üniversitesi
Yusuf Alpaydın, Marmara University

Organizing Institutions