Iraq's Constitution: Implications for Iraq and Beyond
- 17 January 2012
The fragility and vulnerability of the world economy to crises was made startlingly clear when the recent global financial crisis exposed the weakness of the foundations underpinning the global economy, particularly in banking systems and credit markets. Once the crisis had infected the US economy, it quickly began to spread to other countries, eventually developing into a major threat to global political, economic and social security.
However, the crisis has highlighted a number of the positive practices undertaken by Islamic financial institutions, which have assisted in reducing the harmful effects of the crisis, encouraging many economists to expand the presence of aspects of Islamic finance in international financial practice.
In this context the Emirates Center for Strategic Studies and Research (ECSSR), in collaboration with the Observatory of Geopolitical Studies in Paris, will host a symposium under the title: “Islamic Finance and Contemporary Economics”, which will be held on January 17, 2012, in Abu Dhabi.
The symposium will comprise three sessions. The first session will focus on the level of commitment to the concept social responsibility among financial institutions, with an emphasis on the role of Islamic finance and the challenges it faces in this regard. The second session will address the foundations upon which Islamic finance is built and the extent of its resilience to global financial crises; in this context, several issues will be discussed, including the demand for Islamic finance in today’s economy. The symposium will conclude with a third and final session examining practical applications of Islamic finance in both the UAE and France.
Deputy Chairman of the Board of Trustees of the Emirates Center for Strategic Studies and Research (ECSSR)
Tuesday 17 January 2012