Ethics in Financial Transactions & Society: The Way Forward
Asia Institute, Sidney Myer Asia Centre,
Corner of Swanston Street and Monash Road,
The University of Melbourne VIC 3010 Australia
Cost: full A$240, student A$120
Online registration: form
Registration by post: form
Preliminary Program: view
Telephone: +(61 3) 8344 3559
Telephone: +(61 3) 8344 0275
Prof Mohamed Ariff
Telephone: +(61 7) 5595 2296
Prof Abdullah Saeed
Telephone: +(61 3) 8344 3559
Assoc. Prof Ishaq Bhatti
Telephone: +61 3 9479 2715
Download the call for papers information sheet
The next conference on ethics-based financial transactions is jointly organized by the ARC Linkage Grant Team in Bond, and Monash universities; The University of Melbourne (National Centre of Excellence for Islamic Studies-NCEIS and Centre for Applied Philosophy and Public Ethics-CAPPE); the Key Centre for Ethics, Justice and Governance at the Griffith University; and La Trobe University Islamic Banking and Finance program. Three previous meetings/symposia in Melbourne during 2006-2009 on ethics-related banking and finance received good responses from academia, industry, the wider community and research scholars. A book (publisher: Edward Elgar UK-USA) and five journal articles have been published after blind review of papers discussed at those meetings.
Two keynote addresses will be made by eminent scholars and industry leaders: Charles Sampford, Law-cum-ethics Professor and President of International Institute of Public Ethics; and Michael Drew, Professor of Finance and Managing Director of a leader in investment and advisory service firm QIC Limited. There will also be two special paper presentations: their names will be announced as soon as invitations are confirmed.
The 2011 event is proposed on a broader theme of what has become a critical issue after the devastating effects on the world's financial infrastructure from the Global Financial Crisis. Commentators have accused that the Crisis arose from self-serving policies of leaders of modern banking and finance acting in ways devoid of basic ethics guiding financial transactions. Further, serious thinkers point to several key modern banking practices (moral hazard; poor risk transfer; untested derivative instruments, etc.) for the financial system collapse in 2007-08. So much effort is being made in 2010-11 to reform the broken system, but not much has been queried from the points of view of human ethics on how financial transaction should be fashioned. This is the issue for this 2011 Ethics Conference.
A gathering of ethics and finance thinkers, while the world's leaders are designing a new financial system, would be a good forum to discuss how serious are departures from the received knowledge of human ethics guiding financial transactions. The conference papers can be on any topic covering ethics, it could also be from a particular religious perspective (Islamic finance; ethical practices; prudential regulations and ethics; law and ethics; business ethics; investor protection; etc.)
- Broader human ethics as evolved over the millennia
- Do ethics have welfare-promoting potential for society?
- Modern banking and finance practices and ethics
- Ethics in financial transactions in pre-modern finance
- Do ethics enter in designing financial products today?
- Excessive interest, fees, profits in modern finance?
- Ethical banking and finance
- Ethics in risk-shared or not risk-shared financing?
- Banking: Risk management & Treasury operation
- Religion as a source of ethical pursuit in humans
- Untested new financial instruments as bet-based transactions
- Islamic or Christian or Jewish financial principles and ethics
- Are third party damages in two-party contracts just?
- Superannuation/pension fund management and ethics
- Group of 20 deliberation and results to-date
- Low capital adequacy and too-big-to-fail burden on taxpayers
The aim of this research-based conference series is to encourage open discussion leading to quality publications: authentic books, refereed journal articles, and conference proceedings. All papers will be carefully peer-reviewed by scholars and by industry experts (presenting industry papers) in order to provide a forum for advancing the pursuit of ethics-based financial practices in the post-Crisis era as envisioned in the ongoing discussions by the Group of 20 to reform the world financial infrastructure.
The chief guests giving keynote addresses are eminent persons in the industry and in academia. At a later date when all speakers are confirmed, the web site will provide updates to the readers intending to participate: a number of speakers are now confirmed. Several more eminent industry practitioners and scholars will be involved, and their invitations are pending decision.
- Mohamed Ariff (co-chair) Professor of Finance, Bond University
- Abdullah Saeed (co-chair) Professor & Director, NCEIS, University of Melbourne
- Andrew Alexandra, Director CAPPE, University of Melbourne
- Mohamad Abdalla, Assoc Professor, Griffith University
- Ishaq Bhatti, Assoc Professor, La Trobe University
- Prof Kevin Davis, Professor & Director of MCFS, Melbourne
- Prof Michael Drew, Managing Director QIC Limited. Concurrently Professor of Finance, Griffith University
- Mervyn Lewis, Professor of Banking, University of South Australia
- Constant Mews, Professor of Religion, Monash University
- Charles Sampford, Key Centre for Ethics, Justice and Governance
- Michael Skully, Chair in Banking, Monash University
The conference will be held at the University of Melbourne facilities located in the Asia Institute, Sidney Meyer Building, corner of Monash Road and Swanston St. right in the heart of Melbourne city. Hotel accommodations are available, and contact details will be posted later in the Conference web site.
The accepted conference propers will be presented on 17 September; the commissioned special papers will be presented on 18 September in a plenary session. Some of the papers will be selected for publication in a rated journal: the commissioned papers will be edited and published internationally as a book tentatively titled "Financial Ethics in Restructuring Financial Systems?"
Paper submission procedure:
Submissions can be directed to Ramila Chanisheff. The submission deadline is Friday July 27, 2011. An extended abstract may be sent by 15 July 2011, if a paper is not ready. Paper writer(s) will be notified of the Review Committee's decision by August 15, 2011. The registration fee is A$240 collected through credit card authorisation via the web site: or paid on day of registration. Postgraduate students will pay half the registration $120 fee to defray the costs. The conference paper, if found to be relevant, may be considered for inclusion in the book as commissioned paper. The conference participation fee includes the welcome reception morning drinks and lunch during the conference days.