Source: The Brunei Times 10-Apr-07
MORE than 120 working papers from various countries have been submitted to the Centre for Islamic Banking, Finance and Management of Universiti Brunei Darussalam which is hosting the first International Conference on Inclusive Islamic Financial Sector Development, in collaboration with the Jeddah-based Islamic Research and Training Institute (IRTI).
The countries that have so far sent in their papers included the US, UK, Australia, Oman, Sudan, Indonesia, Malaysia, Iran, Bangladesh, Pakistan, South Africa, Syria, Palestine, Egypt and New Zealand. Out of these papers, the Conference Paper Selection Committee has selected 40 papers for presentation in the conference.
This would allow participants to learn from original empirical and theoretical papers of high-quality on the main and sub-themes of the conference as delivered by selected overseas speakers, according to the organiser's website.
The theme picked for the conference is "Enhancing Islamic Financial Services for Micro and Medium-sized Enterprises (MMEs)". The three-day event will open on Tuesday, April 17 at The Empire Hotel and Country Club. In a recent interview with RTB, Hjh Salma Latiff of the Centre described the importance of including the small and medium-sized enterprises in Brunei Darussalam in the effort to strengthen the country's economy base. The purpose of the conference is to analyse the challenges facing the development of MMEs due to non-availability of Islamic Financial Services (IFS) and studying the ways and means to develop the IFS and the related infrastructure with a view to enhancing the access of MMEs to financial services. Some of the topics to be discussed include "Microfinance, Poverty Alleviation and Economic Development: Theory and Practice" by Abdul Hasan M Sadeq, "Financing Micro and Medium Sized Enterprises through Decreasing Partnership (Musharakah Mutanaqisah)" by Muhammad Abdurrahman Sadique and "Agency Problems in Mudharabah Financing: The Case of Sharia (Rural) Banks, Indonesia" by Muhammad Akhyar Adnan.
There will be discussions on the experiences of some Muslim countries pursuing the Islamic financial system, including Brunei Darussalam. Hajah Salma Latiff is to discuss "An Islamic Approach to MME Finance in Brunei: Role of Government, Banks and People" while MA Mannan will present "Alternative Micro-Credit Models in Bangladesh: A Comparative Analysis between Grameen Bank and Social Investment Bank Ltd". Case studies of Islamic finance development will also be discussed. These include "The Role of Zakat in Empowering the Peasantry: A Case Study of the Rumah Zakat Yogyakarta Indonesia" by Dani Muhtada and "The Social Responsibility of IFIs in Palestine" by Ahmad Asad Al-Haj and Radwan Jamal Alatrash. Brunei is keen on developing itself into the hub of Islamic finance in the region while facing competition from Muslim neighbours such as Malaysia. The conference is open for registration with a fee of $750 per participant. Interested persons can call Ak Hasnol and Dk Syema at (673) 2463001 extension 1694, 1831 and 2011 or email Ak Hasnol at hasnol@cibfm.ubd.edu.bn.
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