Deadline: 28 February 2017
The Islamic Research and Training Institute (IRTI), a Member and the knowledge hub of the Islamic Development Bank Group (IDBG), is seeking applications for its research projects which propose policy work on Islamic Economics, Finance and Banking.
Given the importance of Islamic finance in mobilizing the resources needed to meet the Sustainable Development Goals (SDGs), IRTI solicits proposals from developing, emerging, and developed countries to look into areas such as Maqāṣid al-Sharī‘ah based socio-economic development, poverty alleviation, and financial stability.
Focus Areas
- Maqāṣid al- Sharī‘ah: Theoretical and policy oriented research in the area of comprehensive human and socio economic development is an important segment of work at IRTI. IRTI has embarked on a project to develop a Maqāṣid al-Sharīʿah based Index of Socio-Economic Development. It is therefore encouraging research that focuses on:
- Maqāṣid al-Sharīʿah in socio-economic policy making
- Gauging the performance of socio-economic policies in the light of fulfillment of Maqāṣid al-Sharīʿah
- Measurement of the socio-economic development in the light of Maqāṣid alSharīʿah
- Performance evaluation of Islamic financial sector and institutions in the light of Maqāṣid al-Sharīʿah
- Poverty alleviation: Poverty alleviation is a core component of the vision and mission of the IsDB Group. Making a dent in high and rising levels of poverty through social finance and other forms of intervention in a Sharī‘ah-compliant manner is a key policy concern in the IsDB member countries as well as in Muslim societies in non-member countries. Possible areas of research will include:
- The role of Islamic Social Finance in poverty reduction
- Divergence between potential and actual zakah collection
- Exploring the potential of waqf in IsDB member countries
- Social finance and financial inclusion
- Relationship between cost/price of credit and financial & social inclusion
- Relative contribution of microfinance services on financial and social inclusion
- Financial stability is one of the most widely discussed issues in today’s economic literature. The relevance of financial stability gained a lot of attention because of the recent global financial crisis. Therefore, research in this area will look into:
- Financial Development and Prudential Policy
- Risks Management and Stress Testing
Funding Information
IRTI proposes funding for 5 research projects, each of which will receive a maximum funding of US$ 20,000.
Eligibility Criteria
- IRTI welcomes research proposals fulfilling the following criteria:
- Having an academic background in economics, banking, finance, business and Shari’ah (related to economics and finance).
- Having the necessary research and analysis capabilities.
- Having an original research program in the fields of Islamic Economics, Banking and Finance.
- Accepting the terms and conditions of the Research Grant Program.
- IRTI is soliciting proposals from the entire relevant academic community, including research institutions and individual researchers, to look into areas such as Maqāṣid al-Sharī‘ah based socio-economic development, the role of Islamic Economics and Finance in poverty alleviation, and financial stability
How to Apply
Applicants must download the application form and send it to the address given on the website.
Eligible Countries
Developing: Afghanistan, Albania, Algeria, Angola, Antigua and Barbuda, Argentina, Armenia, Azerbaijan, Bahamas, Bahrain, Bangladesh, Barbados, Belarus, Belize, Benin, Bhutan, Bolivia, Bosnia and Herzegovina, Botswana, Brazil, Brunei, Bulgaria, Burkina Faso, Burundi, Cambodia, Cameroon, Cape Verde, Central African Republic, Chad, Chile, China, Colombia, Comoros, Democratic Republic of the Congo, Republic of the Congo, Costa Rica, Côte d’Ivoire, Croatia, Djibouti, Dominica, Dominican Republic, Ecuador, Egypt, El Salvador, Equatorial, Guinea, Eritrea, Ethiopia, Fiji, Gabon, Gambia, Georgia, Ghana, Grenada, Guatemala, Guinea, Guinea-Bissau, Guyana, Haiti, Honduras, Hungary, India, Indonesia, Iran, Iraq, Jamaica, Jordan, Kazakhstan, Kenya, Kiribati, Kyrgyzstan, Laos, Lebanon, Lesotho, Liberia, Libya, Macedonia, Madagascar, Malawi, Malaysia, Maldives, Mali, Marshall Islands, Mauritania, Mauritius, Mexico, Federated States of Micronesia, Moldova, Mongolia, Montenegro, Morocco, Mozambique, Myanmar, Namibia, Nepal, Nicaragua, Niger, Nigeria, Oman, Pakistan, Palau, Panama, Papua New Guinea, Paraguay, Peru, Philippines, Poland, Qatar, Romania, Russia, Rwanda, Saint Kitts and Nevis, Saint Lucia, Saint Vincent and the Grenadines, Samoa, São Tomé and Príncipe, Saudi Arabia, Senegal, Serbia, Seychelles, Sierra Leone, Solomon Islands, Somalia, South Africa, South Sudan, Sri Lanka, Sudan, Suriname, Swaziland, Syria, Tajikistan, Tanzania, Thailand, Timor-Leste, Togo, Tonga, Trinidad and Tobago, Tunisia, Turkey, Turkmenistan, Tuvalu, Uganda, Ukraine, United Arab Emirates, Uruguay, Uzbekistan, Vanuatu, Venezuela, Vietnam, Yemen, Zambia, Zimbabwe.
Developed: Norway, Australia, Switzerland, Denmark, Netherlands, Germany, Ireland, United States, Canada, New Zealand, Singapore, Hong Kong, Liechtenstein, Sweden, United Kingdom, Iceland, Korea. South, Israel, Luxembourg, Japan, Belgium, France, Austria, Finland, Taiwan, Slovenia, Spain, Italy, Czech Republic, Greece, Estonia, Brunei, Cyprus, Qatar, Andorra, Slovakia, Poland, Lithuania, Malta, Saudi Arabia, Argentina, United Arab Emirates, Chile, Portugal, Hungary, Bahrain, Latvia, Croatia, Kuwait, Montenegro.
For more information, please visit IRTI Call for Proposals 2017.