Growth, Equity and Stability : An Islamic Perspective

The Ninth International Conference on Islamic Economics and Finance (henceforth 91 CIEF)  was held on 9^th and 10th September 2013, in Istanbul, Turkey, under the theme “Growth, Equity and Stability : An Islamic Perspective”. This conference was held at a time when the world could not recover from the global financial crisis and subsequent economic downturn. Financial and economic development in most of the developed as well as developing counties is in the grip of persistent risks. Wide income and wealth inequalities, high poverty and unemployment rates, large macroeconomic imbalances, deteriorations in sovereign credibility, increasing food price volatility and food shortages, and lack of access to basic infrastructure further intensify and magnify these risks. Hence, financial, economic and political stability are still-unrestored in many regions and it has become even more challenging to achieve the Millennium Development Goals (MDGs) set by the United Nations for many countries.