While the principles of Islamic finance seem to be definitely established, Islamic financial innovative products await creative intellectual and research efforts in order to actualize the full potential of those principles. This innovative intellectual and scientific effort is a sine qua none condition for developing original initiatives and viable alternative solutions to meet the vital economic and financial needs of society.
The growth of Islamic financial products is generally limited to conventional products re-designed to meet the requirements of Islamic contractual and commercial laws. A broader view of Shari'a compliance is still necessary to propose a new generation of Islamic financial products tending towards sustainable development where Man, ethics, profitability and economic performance would be at the center of concerns.
The aim of this much-needed innovation is expected to lead to the emergence of financial products in line with the expectations and constraints of the Muslim society which is presently going through a process of unprecedented social and political changes. Indeed, Muslims’ aspirations are high since most of them are ready to adopt financial innovations and consume products offered by Islamic banks and financial institutions.
Of course, decision makers can consider these innovations as an effective way to improve their financing schemes via the issuance of sovereign Sukuk. Corporate organizations and companies can also make use of sovereign Sukuk to promote ethically-bound investment projects. By bringing together academics, experts and professionals in the field of Islamic finance, the Sfax fourth International Forum on Islamic Finance coincides happily with a great turning point in the history of our society, thus offering a great opportunity for profound reflection on the prospects that Islamic finance can provide for national and regional sustainable development to alleviate economic poverty and social marginalization and exclusion.
The fourth edition of Sfax international forum on Islamic finance comes, timely, to fit into the logic of reflection and provide an opportunity for researchers to present their work on the subject and discuss various issues related to the theme of the Islamic financial engineering in its theoretical, methodological or empirical perspectives. It is also an opportunity for professionals in business and finance to present their views and aspirations. This International Forum is also an opportunity for researchers, experts and professionals in this area to converge recent advances on Islamic financial industry, to study the balance issues that have remained uncovered, to allow the development of existing inter-university relationships, and foster collaboration between the different laboratories involved in research on Islamic finance.