Participation Finance

Participation Finance, mostly referred to as Islamic Finance, Equity-based Finance or Profit and Loss Sharing Finance, is a financial system where the financial institutions offer financial services based on the principle of shared risk and reward. A growing body of literature argues that, implemented fully, Participation Finance is more stable, equitable, inclusive and growth-friendly, and therefore, can better serve sustainable development.

The global growth of Participation Finance, on the other hand, continued its fast-track trajectory over the past years despite the uncertainty in the health of the global financial system. Worldwide, the assets of participation finance --about $1.4 trillion at year-end 2011-- are likely to continue their impressive streak of double-digit growth in the coming years. As the industry matures, equity-based instruments of Participation Finance are becoming specific asset classes in their own right. The expansion of this emerging market in both depth and breadth, implied by both the increase in the number of new entrants and the growing sophistication of existing players, is likely to pave the way for the coming of age of a truly global Participation Finance industry.

As the primary research and training organ of the Organisation of Islamic Cooperation (OIC), SESRIC is fully dedicated to the advancement and welfare of its member countries through developing implementable and research-based policies and technical cooperation programmes. To that end, the Centre is an active contributor to the development of Participation Finance in OIC member countries through a broad spectrum of activities including, inter alia, various international academic and practitioner events, landmark industry projects, as well as technical research studies. The Centre is also engaged through an intensive cooperation agenda with various multilateral development and standard-setter institutions specialized in Participation Finance.

Planned / Implemented Meetings

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SESRIC Hosted the 9th International Conference on Islamic Economics and Finance
Date : 09-10 September 2013 Venue : Istanbul Turkey

Jointly with the Islamic Research and Training Institute (IRTI) of the Islamic Development Bank Group, Qatar Faculty of Islamic Studies (QFIS) of the Qatar Foundation’s Hamad Bin Khalifa University, and the International Association of Islamic Economics (IAIE), SESRIC has organized the 9th International Conference on Islamic Economics and Finance (9ICIEF). The Conference was held in WoW Convention Centre in Istanbul, Republic of Turkey, on 9-10 September 2013 under the theme “Growth, Equity and Stability: An Islamic Perspective”.

Prof. Savaş Alpay Delivered a Keynote Speech during 2nd International Conference on Islamic Economics and Economies of the OIC Countries (ICIE2013)
Date : 29-30 January 2013 Venue : Kuala Lumpur Malaysia

Prof. Savaş Alpay, Director-General of SESRIC, delivered a keynote speech at the 2nd International Conference on Islamic Economics and Economies of the OIC Countries (ICIE2013) which was held from 29 to 30 January 2013 in Kuala Lumpur, Malaysia. The 2nd Conference was organized jointly by the Kulliyyah of Economics and Management Sciences at the International Islamic University Malaysia (IIUM), Ministry of Finance Malaysia, and Islamic Research and Training Institute, and held on the theme Islamic Economic Solutions for OIC Countries: Theory and Policy.

SESRIC and World Bank Signed Memorandum of Understanding
Date : 09-13 January 2013 Venue : Washington DC - USA

A number of talks have been held between SESRIC and the World Bank on January 9-10, 2013, at the Bank’s headquarters in Washington DC, USA, to explore the potential modalities for greater cooperation between the two institutions on various fronts. The SESRIC delegation was composed of Dr. Savas Alpay, Director-General, and Mr. Nadi Serhan Aydin, Researcher at the Department of Economic and Social Research.