Islamic Finance and Economic Development

Islamic finance has experienced rapid growth both as an industry and an academic discipline, while also becoming the subject of extensive debate. Central questions include: What necessitates the existence of ‘Islamic’ finance? To what extent does it differ from conventional banking and finance, especially in terms of its objectives, philosophy, and products?

As a field of research, Islamic finance is multidisciplinary in its core nature, drawing from economics and finance, law, and politics, among others. This course initially aims to demystify the study of Islamic finance by delving into its multifaceted character. 

Following this, our focus will narrow to the role of Islamic finance in fostering financial inclusion and economic development. We will explore how the latest methods in experimental economics can be applied to this domain. This is particularly important, as many Muslims reside in low-income countries, are often financially excluded, and are disproportionately exposed to climate risks. This reality underscores the need for innovative financial products that enable individuals to achieve their goals equitably.

The final part of the course will discuss Islamic finance in high-income countries, with a focus on personal finance and investments. 

Date: 10th and 11th July 2025

Location: Oxford Centre for Islamic Studies. This course is in-person only.

Time: 2pm - 6pm

Cost: £50.00

Speakers: Professor Muhammad Meki

Click here to apply for this course.