Bangor Business School to hold major conference on Muslim Economies

How can financial development be advanced in the Muslim world? That’s the question that will be asked and debated at a Bangor University conference in September, in collaboration with the Islamic Development Bank (IDB).

Held in conjunction with the Islamic Research Training Institute (IRTI) of the IDB, ‘Finance and Development in Muslim Economies’ will examine why it is that Islamic countries lag so far behind other nations in terms of economic development, and what can be done to change this.

“The total GNP (gross national product) of the 57 Muslim countries is only 8% of the world GNP, while their total population is more than 1.3 billion and constitutes about 21% of the world population”, explains Professor Shahid Ebrahim, conference organiser and Professor of Islamic Banking and Finance at Bangor Business School. “Identically poor results are revealed from an analysis of the Human Development Index (HDI): out of 57 Muslim countries, 21 received low scores, 31 secured medium scores and only 5 Muslim countries attained high scores.”

The conference will serve as a forum for the exchange of ideas, and it is hoped that it will encourage studies investigating the financial perspective underlying broad areas such as financial management, financial infrastructure, financial institutions and financial instruments.

The event is co-organised by Turkhan Ali Abdul Manap (IRTI), Professor Phil Molyneux (Bangor University), M. Azmi Omar (IRTI) and Steven Ongena (University of Zurich). All of the organisers, including Professor Ebrahim, will co-edit a special issue of the Journal of Financial Services Research in which selected papers from the conference may be published.

Further information about the conference, which will be held at Bangor University on Monday 15th September, can be found at

Publication date: 1 September 2014