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Rabu, 10 Maret 2010

Islamic Society For Institutional Economics (I-SIE)

Islamic Society for Institutional Economics (I-SIE) is an academic/research oriented non-profit body with motivation to promote intellectual and scientific discussions and research on institutions of Islam in the framework of New Institutional Economics.

The membership is open for all academicians, researchers, social scientists and
policy practitioners without any constraint of creed, religion, faith, region or gender.
Please submit online membership registration for free till March 31, 2009.
Student membership is available for graduate student.

Discovering a distinct scientific discipline of Economics, to be referred to as Islamic Economics that underlies the economic institutions of Islam that have been and are in actual practice during the last more than1400 years history of Islam. Discovering this discipline may have useful lessons not only for the existing Muslim societies but also for the world at large.
To understand Institutional Economics of Islam by promoting research on the institutions ___ laws, rules, beliefs, rights, individual and social responsibilities, norms, ethics, customs ____ as well as institutional infrastructure that actually existed or are still exising in the Muslim societies in the more than 1400 years of history of Islam
1. Promotion research on Institutions of Islam in influencing the actual economic behaviour of human beings and shaping the economics in Muslim societies through out the history as well as in contemporary Muslim world
2. Evaluating the contemporary faith based infrastructural institutions, operating on Islamic principles, in relation to their impact on economic behaviour of Muslims as well as on the existing economic systems in the countries where these institutions are in practice
3. Establishing an academy to promote teaching and research on Institutional Economics in general and Institutional Economics of Islam in Particular, not precluding the research and teaching of Institutional economics implied in other major faiths of the world.
4. Coordinating and collaborating, in areas of mutual interest, with other societies and institutes working in the area of Institutional economics in different parts of the world
5. Organizing seminars, workshops and annual conferences in different parts of the world on the topics of Institutional economics of Islam (without precluding Institutional Economics in general)
6. Sponsor/support research projects, Ph.D thesis on the Institutional Economics of Islam.
7. Promote teaching of Institutional economics at university level with special reference to Institutional Economics of Islam
8. Issue a refereed journal of Islamic society for Institutional Economics (JOISIE) to be issued to become within a period of three years a quarterly journal
Despite last more than 30 years’ rigorous efforts by Muslim economists to discover a scientific discipline to be called Islamic Economics led to nowhere. The starting point picked up for this purpose was what is referred to as the conventional economics/main stream economics/ new classical economics. It is now being realized that
1. If we are not there, we started from the wrong point and took the wrong path.
2. What ever has been achieved in the name of Islamic economics, so far as is as abstract as conventional economics, neither relating to the reality nor reflecting it.
The recent developments in the name of Institutional Economics or more specifically, New Institutional Economics, an alternate approach to Economics – more realistic and more rational - is expected to provide a better starting point for understanding the economics in Islam. This is because the Islamic system of life, the economic system of which was only an integral subset, started with developing institutions. These institutions changed the human behaviour relating to economic matters and determined the dimensions and boundaries for the economic system which were not previously known.
The contemporary Muslim societies are looking forward to a new path to reach the destination that could be called Islamic Economics because of its distinct roots in the institutional framework that they have as a part of their conviction and beliefs.
Dr M. Fahim Khan and Dr Omar Hafiz
Founding members:

Dr. M. Fahim Khan ...
Dr. Omar Hafiz ...
Dr Nasim S. Shirazi ...
M. Muqeem ul Islam ...

President: Dr. M. Fahim Khan
Co-President: Dr. Omar H. Hafiz
Secretary General: M. Muqeem ul Islam
Postal Address
I-SIE, Room D-10, Block-2, School of Economics, International Institute of Islamic Economics, H-10, Islamabad, Pakistan 44000
Telephone +92-343-5090648 , Fax: +92-51-9258019

First Annual meeting of I-SIE & Conference on
“Islamic Economics: An Institutional Economics Perspective "
June , 2009
Islamabad, Pakistan

Annual meeting of I-SIE will be held on the second day of the Conference

The first issue of the Journal of Islamic Society for Institutional Economics (JOISIE) will be expected appear in the shape of proceedings of the conference to be held in June 2009.
Focus for the Conference
a. Alternate Paradigm for Economic Thoughts & Economic orthodoxy
b. Discipline of Islamic Economics between Neo Classical and Institutional Schools
c. Developing Economies in the light of Institutional Reforms
d. Institutional Structure Muslim Economies
e. Institutional Reforms & Economic Performance
f. Economic Institution and Poverty
g. Governance, Institutions and Faith
h. Governance, Institutions and Economic Development in Muslim Countries
Topics/Themes for conference/Journal
Lessons of New Institutional Economics for Developing Economies
Lessons of New Institutional Economics for Operating Muslim economies on Islamic principles
New Institutional Economics as framework for developing Islamic Economics
Identifying transaction costs and Measuring them in financial markets
Fiqh al Buyu and Transaction Cost
Institutional Innovations to address the problems of poverty alleviation
Innovating Institutions for an Islamic economic system in the contemporary world
Governance style of early Islamic Period and their implication for contemporary societies
Governance and Institutional Problems in Muslim Countries.
Effectiveness of Judicial System and its impact on Economic Development.
Legacy of Colonial Institutions and Corruption
Institutional Economics of Class Structure in Muslim Economies
World Bank Survey and Lessons for Islamic economics and finance
Property rights for poor and land reforms in developing countries
Property rights for in Islam and Institutional framework to enforce the
Islamic Economics, Neo-classical Economics, Institutional Economics and New Institutional Economics: A Survey
Basic Assumptions of Neoclassical Economics, NIE and their relevance in Islamic Economics
The Firm between Neoclassical Economics and Institutional Economics: Do we have Islamic Theory of Firm (Lessons from the Shari'a Compatible Contracts)
Institutions of Islam and their role in the System of Life in the contemporary world
institutions of Islam and Transaction Cost
Agency theory
Property rights system
Collective Action
Bounded Rationality
Self Interest
Conflict of interest
Norms and rules of Governance
Institutions formulating Social Capital in Islamic system of life and their role in the formation of Islamic Economic System
Faith, Institutions and Economics
Money as Institution in the Comparative Economic Systems
Economics Institution in the Light of Islamic Legal System
Economic Relations among Economic Institutions under Muslims’ Social responsibilities.
Institutional framework of Firms and inter-firm operation under Islamic contract

Notes for Contributors
All articles must be in English. They may be submitted in electronic format only. MSWord, and pdf files are acceptable.
There must be no indication of the personal identity or institution of any author of the article within the article itself, or in the 'properties' of the electronic file. Normally, articles (including footnotes and references) must be no longer than 9,000 words. In special cases, such as an extended review article, this limit may be extended to 12,000 words.
Registration Contribution:
$ 200 US for Participants from EU , North America, ANZ
$ 100 US for Participants from Asian Countries (except India , Pakistan , Srilanka, Bangladesh and Sub Sahran Africa Countries because participation is free for academician from these countries)
The registration fee will be received at the time of arrival. Registration fee will cover meals during the conference and academic material
Four Star Hotel residence cost in Islamabad varies from US 40 $ to US 100 $ per night (For reservation help contact Conference organizers)
Dates to be remembered:
Abstract Submission Deadline: Nov 30, 2008
Paper Submission Deadline December 31, 2008
Conference to be Held : June 2009

Visit for further information at www.I-SIE.ORG or email

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