Specialising in all aspects of Islamic finance, IZU offers students from around the world a learning opportunity that is second to none
Istanbul Sabahattin Zaim University (IZU) is one of Turkey’s highest ranking universities and a leading research institution for the region. With academic roots reaching back 50 years, IZU was formally founded in 2010 and is accredited by the Turkish Higher Education Council. The university is dedicated to providing world-class programmes, which are delivered by leading researchers. IZU is home to state-of-the-art research facilities, the largest library in Istanbul, and on-campus residences that offer a vibrant student experience. Aspiring to become a leading international research university, IZU is committed to rigorous academic excellence across the board.
IZU’s student community come from more than 90 countries and benefit from international exchange programmes, specialist career development, internships, and mentoring opportunities. The university has 36 undergraduate programmes, 71 master’s and 25 doctoral programmes. IZU believes in developing the leaders of tomorrow, equipping them with the skills to move with our ever-changing economic landscape.
A recipient of many distinguished awards, IZU was ranked among the top 200 universities in Asia and Europe by UI Green Metrics. It was also among the world’s top 200 universities for the “No Poverty” and “Responsible Production and Consumption” categories of the Times Higher Education 2021 ranking for the UN’s Sustainable Development Goals. This year, IZU has been awarded “Best Education Provider in Islamic Economics & Finance” by The European, as well as “3G Green University Campus of the Year in 2020” and “3G Social Responsibility in Higher Education of the Year” in 2021 by Cambridge IFA.
IZU recently founded the prestigious Islamic Economics & Finance Research and Application Centre (ISEFAM) in order to drive research in this specialised area. Promoting knowledge sharing and innovation in Islamic Economics & Finance, ISEFAM produces groundbreaking research by supporting pioneering thought-leaders. The centre tracks the latest trends and developments in the Islamic finance industry, and shares information and best practices with its main stakeholders.
Bridging the divide between academia and industry, ISEFAM organises a whole roster of events, including the renowned International Islamic Economics & Finance Conference, as well as customised trainings, consultancies, and programmes. It also publishes the Journal of Islamic Economics and Finance which focuses on the development and support of Islamic economics and finance, and conveys critical academic research across the specialisation to a wider audience.
ISEFAM focuses in key areas such as economics, banking, the capital market, insurance (takaful), reinsurance (re-takaful) and social finance. The centre offers postgraduate programmes in English, Turkish and Arabic, with undergraduate programmes in English and Turkish.
Research at ISEFAM
The implementation of Islamic and ethical values through finance promotes equity and justice, as well as a holistic and sustainable financial system. In accordance with this, ISEFAM focuses on:
Islamic economics – The centre conducts theoretical and empirical research across the broad spectrum of Islamic economics, including critical issues of the prohibition of interest, money supply, credit creation, limiting debt securitisation, monetary and fiscal policies, and more.
Islamic banking – Application of theoretical and empirical research on the practices, operations, regulatory, legal and Shariah frameworks of Islamic banks. This includes comparisons of Islamic and conventional banks in terms of stability, profitability and issues and challenges faced by Islamic banks.
Islamic capital market – ISEFAM conducts theoretical and empirical research on the regulatory, legal and Shariah frameworks of Sukuk and Shariah-compliant stocks in promotion of the application of Sukuk in private public partnership, project financing and real sectors.
Takaful and re-takaful – Theoretical and empirical research on the regulatory, legal and Shariah frameworks of takaful and re-takaful. This research cluster looks at topics including family takaful, general takaful, and re-takaful through the application of various Islamic contracts.
Islamic social finance – Given the strength in the development of waqf in Turkey and the Muslim world, ISEFAM focuses on study of Islamic endowments including waqf, zakat, and other related sustainable institutions and development solutions.
Research at ISEFAM is conducted by renowned scholars, researchers and consultants. As a budding research centre, ISEFAM has produced many highly ranked publications, in the field of Islamic economic and finance. ISEFAM’s journal, the Journal of Islamic Economics and Finance exclusively focuses on the development and support of Islamic economics and finance. ISEFAM collaborates with many international Islamic banking and finance institutions including, the International Islamic University of Malaysia (IIUM), the University of Turin, Durham University, the International Centre for Education in Islamic Finance (INCEIF), and the Islamic Research and Training Institute of the Islamic Development Bank (IRTI).