CITE’s ongoing research in Islamic Finance cuts across a diverse range of topics including: Islamic investment behaviour; shari’ah trade and financial practices and their relevance in contemporary trade practices law; Islamic microfinance; Islamic financial accounting and reporting standards and, corporate taxation issues associated with variations in sukuk structuring. However, two of CITE’s current signature research projects focuses on financial literacy and real-time trading floor training. The first is a longitudinal study concurrently conducted within Australia and Indonesia examining the prevalence of financial literacy among Muslims adults and school children.

The project is intended to be rolled out in Malaysia and thereafter to straddle other countries with anticipated partnering with the World Bank and the Asian Development Bank. Consistent with other global financial literacy studies, this collaborate research initiative is intended to be replicated biennially in a manner that will track financial literacy progress across jurisdictions and globally. The second signature project is a training program that allows student and practitioners to deal ‘hands on’ in trading shari’ah compliant stocks, currencies and sukuks (capital market securities). Participants are introduced to the ethics, principles and foundations of Islamic finance with concurrent exposure to trading room activities.

Research activities centres around a diverse range of issues related to Islamic Finance. Two areas of particular interest stand out for mention as the title suggests. The first examines the level of financial literacy among Australian Muslim adults and school students as no such studies exists globally. While much is known about literacy levels within conventional finance concerning different cohorts of communities and countries, the lack of empirical studies means no observations may be made about literacy levels about Islamic finance within and outside Muslim communities. We are analysing data collected within an Australian setting on this issue and concurrently collaboratively engaged with colleagues in Indonesia and Malaysia to replicate this study. The methodology employed in this research mimics that employed in large-scale conventional studies and in tandem, considered sufficiently robust to longitudinal study. 

The second research area takes on two dimensions:

  1. financial planning within the realm of shariah compliance and
  2. quantitative analyses of Islamic and Ethical investment funds.

The first focuses on self-managed superannuation funds and investment opportunities aligned to shariah complaint stocks and sukuk instruments. The second area follows on from Dr Mahmood Nathie's PhD research that extends the research to both Islamic and conventional socially responsible investment funds. Both areas are relevant to investment opportunities available to Muslim investors given the pace at which the industry is advancing and unfolding globally.