EFFAT TO HOST FIRST CONFERENCE ON ISLAMIC BEHAVIORAL FINANCE

Jeddah, 23 Muharram 1436/17 November 2014 (MINA) – Effat University of Jeddah will host the First International Conference on Islamic Behavioral Finance on November 18-19.

The conference, which is to be organized by Effat University in line with the progress made in the recently emerging Islamic financial system, is aimed to contribute to the development of Islamic behavioral finance, and to mark the university’s aspiration to become a regional leader in Islamic finance education and research.

Participants in the conference will be briefed on the behavioral Islamic finance and the key issues marking the current practice of Islamic finance industry, International Islamic News Agency (IINA) quoted by Mi’raj Islamic News Agency (MINA), as reporting, Monday.

The conference is also a great opportunity for international networking, particularly with the expected international attendance from various Islamic finance insy (titutions.

Over the past few decades, the behavioral finance theory has largely contributed to the understanding of various financial phenomena that are still puzzling under the standards of finance principles.

These theoretical principles were further developed and empirically tested resulting in a more sound conventional finance theory. Thus, the behavioral aspect imposed itself as an indispensable component of the finance theory.

The same principle applies to the recently emerging Islamic financial system. In this context, though there have been tremendous studies on Islamic finance and Islamic investment, there are very few studies that have addressed specific topics within the behavioral finance framework.

Moreover, it is needless to say that currently, majority of the issues faced by Islamic finance and its future is highly related to the behavior of investors as well as the other market players.

Furthermore, the financial theory has long demonstrated that the investment patterns always have long run impacts on the market movements.
In this regard, behavioral finance offers a comprehensive set of tools to identify these investment patterns and their possible influence on the overall development of Islamic finance. (T/P007/P3)

Mi’raj Islamic News Agency (MINA)