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Call for Papers

International Scientific Conference

“Managing the Cost of Living: The Role of Islamic Finance in Daily Life, Tax-Aware Financial Practices, and Sustainable Development”

2 October 2025

Novi Pazar, Serbia

 

Organized Jointly By:

  • University of Novi Pazar (Serbia)
  • University of Dundee, School of Business (UK)
  • International Waqf Fund, Islamic Relief (Worldwide) 

Dear Colleagues, Researchers, Practitioners, and Students,

We cordially invite you to contribute to the International Scientific Conference, “Managing the Cost of Living: The Role of Islamic Finance in Daily Life, Tax-Aware Financial Practices, and Sustainable Development” scheduled to be held on 2 October 2025 in the historic city of Novi Pazar, Serbia. This significant event is jointly organized by the University of Novi Pazar, the University of Dundee, School of Business, and the International Waqf Fund.

Conference Rationale:

Our world is experiencing a convergence of profound economic and ecological challenges. From the daily pressures of rising living costs, inflation, and increased taxation to the long-term threats of climate change and resource depletion, individuals and societies are being tested in unprecedented ways. The global population now exceeds 8 billion, placing unprecedented strain on finite natural resources and fragile ecosystems. Dominant economic models built on linear consumption "take, make, dispose" continue to drive overproduction, waste, and inequality, all of which contribute to global instability and environmental harm.

Against this backdrop, the search for sustainable, just, and balanced systems has never been more urgent. The circular economy has emerged as a powerful framework for addressing ecological and economic imbalance, offering strategies focused on reducing waste, regenerating resources, and designing systems that prioritize reuse, repair, recycling, and shared value. Yet true sustainability demands more than technological fixes or market efficiency, it calls for a deeper ethical and spiritual transformation.

From an Islamic perspective, the notion of Mīzān (balance) is fundamental. The Qur’an reminds us: “And the heaven He raised and imposed the balance (mīzān), that you not transgress within the balance” (Qur’an 55:7-8). This concept of divine balance governs not only nature and ecosystems but also human behavior, economic activity, and our collective responsibility toward creation (khalq). The resources granted by Allah (s.w.t.) are a trust (amānah), to be used with care, moderation, and justice.

Islamic ethics therefore offer a holistic framework for managing the cost of living in both material and moral terms. Values such as avoiding waste (isrāf), promoting moderation (wasatiyyah), eliminating harm (ḍarar), and ensuring fairness in transactions are deeply embedded in Islamic thought and resonate with the principles of the circular economy. In this context, Islamic finance plays a vital role in actualizing these values in practice.

Grounded in risk-sharing, real economic activity, and social justice, Islamic finance provides a set of tools and instruments, from zakat, waqf, and qard hasan to profit-and-loss sharing and ethical investment, that can be mobilized to ease the financial burdens of everyday life. Whether it's helping families manage bills through interest-free finance, offering tax-conscious savings and ethical pensions, or supporting green and circular economy enterprises, Islamic finance brings a faith-driven dimension to economic resilience and sustainability.

This conference invites scholars, researchers, students, practitioners, and policymakers to explore how Islamic finance can be used to manage today’s economic realities, from inflation and taxation to sustainability and equity. We welcome papers and contributions that examine the intersection of Islamic finance with everyday financial practices, environmental ethics, and social responsibility. In doing so, we aim to advance solutions that are not only economically viable but also spiritually grounded and ecologically just, aligned with the divine balance that underpins all aspects of life.

 

Thematic Areas:

We invite the submission of academic papers, policy briefs, professional reports, case studies, and conceptual reflections that engage critically with the conference theme: "Managing the Cost of Living: The Role of Islamic Finance in Daily Life, Tax-Aware Financial Practices, and Sustainable Development."

Submissions are encouraged across a broad spectrum of interrelated topics. The following thematic areas serve as a guide, though contributions beyond these themes are also welcome.

  1. Islamic finance and everyday economic resilience
  • Role of Islamic financial tools (e.g., Zakat, Qard Hasan, Murabaha) in addressing cost-of-living pressures, household budgeting, and bill management.
  • Interest-free finance and microfinance as strategies for economic inclusion and hardship mitigation.
  • Tax-aware Islamic financial planning and support for financially vulnerable groups.
  • Islamic finance providing alternatives to predatory lending and unethical credit systems.

 

  1.  Faith, finance, and the circular economy
  • Theoretical linkages between Mīzān (balance), Islamic economic ethics, and the principles of the circular economy.
  • Applications of Islamic financial instruments (Mudarabah, Musharakah, Sukuk, Istisna', Ijarah) in circular business models and green infrastructure.
  • Risk management for sustainable and circular economy ventures in compliance with Shari‘ah principles.
  • Case studies on financing environmentally conscious businesses through Islamic finance.
  • Contributions of Zakat, Sadaqah, and Waqf to social enterprises, recycling initiatives, and zero-waste movements.

 

  1. Islamic finance, technology, and innovation for sustainable development
  • Faith-driven fintech and digital tools enabling ethical and sustainable consumption.
  • Smart contracts, blockchain, and transparency in Shari‘ah-compliant supply chains.
  • Islamic financial support for eco-entrepreneurship, clean energy, and regenerative design.
  • Green sukuk and other innovative Shari‘ah-compliant instruments for ESG investing.

 

  • Islamic perspectives on resource management, waste reduction, and sustainable lifestyles.

4. Ethics, governance, and public policy

  • Embedding Maqāṣid al-Sharī‘ah (higher objectives of Islamic law) in sustainability frameworks.
  • Islamic perspectives on public resource management, waste minimization, and circular consumption.
  • Halal consumer behavior, ethical lifestyle choices, and their alignment with circularity and environmental balance.
  • Shari‘ah governance, stakeholder accountability, and regulatory innovations for sustainable finance.
  • Public policy strategies for integrating Islamic finance into national and international sustainability agendas.

 

Submission Guidelines:

  • Abstract Submission: Authors are invited to submit abstracts electronically via the conference portal.
    • Abstracts should be between 100-200 words.
    • Must include: Title of the paper, designated thematic area/section, full name(s) of the author(s), affiliation(s), complete address(es) including e-mail, and relevant keywords.
    • Deadline for Abstract Submission: 31 July 2025
    • Notification of Abstract Acceptance: 9 August 2025

 

  • Full Paper Submission: Following abstract acceptance, authors must submit their full papers.
    • Each paper will undergo a peer-review process. Selected high-quality papers will be published in the official Conference Proceedings.
    • Papers must adhere strictly to the conference Template, available for download at: https://publikacije.uninp.edu.rs/ei/UputstvoENG.docx. Papers not conforming to the template will be returned for revision.
    • Papers should not exceed 14 pages.
    • An author/co-author may submit a maximum of two papers, but only one paper as the first author.
    • Deadline for Full Paper Submission: 6 September 2025
    • Notification of Paper Acceptance: 13 September 2025
  • Submission Portal: All submissions must be made through the official conference portal: https://publikacije.uninp.edu.rs/index.php/npc

Important Dates:

  • Abstract Submission Deadline: 31 July 2025
  • Abstract Acceptance Notification: 9 August 2025
  • Full Paper Submission Deadline: 6 September 2025
  • Full Paper Acceptance Notification: 13 September 2025
  • Conference Date: 2 October 2025

Conference Language:

  • The official language of the conference is English.

Participation Fee:

  • Standard Registration Fee: €20
  • PhD Student Registration Fee: €10 
  • For details regarding payment methods and what the fee covers, you can contact finansije@uninp.edu.rs.

Venue:

  • The conference will take place in Novi Pazar, Serbia, a city known for its rich cultural heritage and emerging academic community.

Further Information:

We strongly encourage you to contribute your valuable research and insights to this timely and important discussion. We look forward to fostering fruitful dialogue and collaboration towards building a more sustainable and equitable future, drawing upon the synergistic potential of the circular economy and Islamic finance.

We look forward to welcoming you to Novi Pazar in October 2025!

 

Sincerely,

The Organizing Committee