Business and Islamic Finance Research Group (BIFRG) aspires to combine the frontier knowledge of finance discipline with the Islamic principles and tenets having deep roots in the Arab and other Muslim countries. BIFRG will make effort to create new knowledge through implementing cutting-edge research programs that will help improve financial decision making by the government and private entities operating within the economic environment of Arab and broader Muslim world BIFRG will pursue research activities in two themes namely, Business Finance and Islamic Finance. Business Finance projects cover Corporate Finance and Governance, Asset Pricing and Investment Analysis, Banking Operations, Financial Regulations and Risk Managements. However, Islamic Finance theme focuses on Islamic Banking Operations, Islamic Financial Assets, and Islamic Investments. BIFRG will facilitate cultivation of high impact knowledge in both thematic areas by undertaking relevant projects, seminars, conferences, symposiums, workshops, and collaborations with local and international scholars and institutions in the relevant fields. This will help to identify innovative and practice oriented research projects. At launching the research group, BIFRG proposes two projects as part of the requirements. The first project will investigate if the UAE banks are yet ready to implement Basel III. The expected output of this project will provide critical help to the UAE banking industry in designing their strategy for avoiding future financial crisis. The second project will investigate the impact of operating and financial leverage on the firms' riskiness in the context of Arabian Gulf countries.