Al Baraka Forum for Islamic Economy holds inaugural summit in Istanbul

Saudi Gazette report

ISTANBUL — The inaugural summit of the Al Baraka Forum for Islamic Economy was held in Istanbul on May 24 and 25, under the theme “Global Prospects for Islamic Economy: Fundamentals and Needs.”

The event took place at the Istanbul Lütfi Kırdar International Convention and Exhibition Center, in collaboration with the Turkish Presidency’s Investment Office, Istanbul Financial Center, Turkish Sovereign Wealth Fund, Al Baraka Turk Bank, and other significant institutions.

The opening session was graced by the presence of Turkish President Recep Tayyip Erdogan, who praised the late Sheikh Saleh Kamel for his role not only as a successful businessman with visionary insights but also as a humanitarian dedicated to philanthropy, helping the needy, and supporting those in difficulty.

Erdogan highlighted that the Al Baraka Forum for Islamic Economy has played a significant role in promoting Islamic economics as a viable economic choice.

Sheikh Abdullah Saleh Kamel, Chairman of the Board of Trustees of the Al Baraka Forum for Islamic Economy, in his opening speech, remarked that the leadership in Islamic economics originated in Madinah, the historical capital of Islamic economics, back in 1981.

He recounted how his father, Sheikh Saleh Kamel, launched the first participatory banking venture in Turkey over 40 years ago with the establishment of Al Baraka Turk Participation Bank.

This initiative paved the way for ethical banking aligned with true Islamic principles. Just days before his death in 2020, Sheikh Saleh Kamel announced the transformation of the symposium into this prestigious global institution, the Al Baraka Forum for Islamic Economy.

The summit focused on exploring the fundamental principles and values of the Islamic economy, identifying trends and challenges in the global Islamic finance sector, fostering cooperation and successful partnerships between Islamic countries, discussing strategies to advance the Islamic economy in the digital age, and examining the role of youth in shaping the future of the Islamic economy. The event included keynote speeches, discussion sessions, workshops, and networking opportunities, providing valuable insights and opportunities for interaction with community leaders in the field.

Al Baraka Forum for Islamic Economy is an independent global think tank that aims to enrich research and serve the knowledge infrastructure of the Islamic economy, building partnerships and alliances with regional and international entities to address contemporary economic challenges and keep pace with Islamic economics and finance.