We Attended the 2nd Istanbul World Islamic Economy Summit

The 2nd Istanbul World Islamic Economy Summit, held at the Istanbul Financial Center from May 30 to June 1, 2025, was organized under the theme “Strategies for the Islamic Economy: The Path to an Effective Global Economy.” The summit was organized by the AlBaraka Islamic Economy Forum and held in cooperation with the Presidency of the Republic of Türkiye Investment and Finance Office, the Türkiye Wealth Fund, the Islamic Cooperation Youth Forum, Ibn Haldun University, Istanbul Financial Center, and AlBaraka Group. As the Union of NGOs of the Islamic World, we participated in the summit together with our Secretary General, Eyüp Akbal.

Over the course of the three-day summit, the global development of the Islamic economy, the opportunities it faces, and potential solutions were discussed comprehensively. Key topics on the agenda included the importance of an interest-free economic system, strengthening participation finance, increasing financial inclusion, combating poverty, environmental sustainability, and ethical investment. Throughout the summit, proposals for solutions in these areas were presented, while strategic visions for the future of the Islamic economy were also shared.

The panels held during the 2nd Istanbul World Islamic Economy Summit addressed various aspects of the Islamic economy, providing participants with in-depth analyses and strategic recommendations. Some of the prominent panels and their key topics were as follows:

Sustainable Growth and Digital Finance: On the second day of the summit, topics including “sustainable growth and digital finance, strategies for long-term economic stability, positioning Islamic banks in a competitive financial environment, and developing innovative financial solutions while maintaining Shariah compliance” were discussed in detail.

Development and Transformation of Participation Finance: Türkiye Wealth Fund’s Sukuk Issuance: Fatih Karahan, Governor of the Central Bank of the Republic of Türkiye, stated that the share of participation finance within the banking sector had risen to 8.3%. Karahan emphasized that participation finance contributes to the development of financial markets by expanding the diversity of financial products and services.

Global Share and Future of Islamic Finance: Mehmet Şimşek, Minister of Treasury and Finance, stated that Islamic finance accounts for slightly more than 1% of global financial assets and emphasized the need for investment to support the growth of this sector. Şimşek noted that Islamic finance is a powerful tool capable of ensuring a fairer distribution of prosperity.

Prosperity and Environmental Strategies: Social Justice and Economic Empowerment: The discussions addressed the development of strategic planning incorporating Shariah governance, the creation of resilient financial infrastructures through FinTech applications, and environmental responsibility and sustainability practices in the Islamic economy.

Islamic Entrepreneurship and Start-Up Strategies: In the session moderated by Taha Ayhan, President of the Islamic Cooperation Youth Forum, the focus was on young entrepreneurs and ways to promote innovation in line with Islamic economic principles.