Istanbul hosts Islamic Economics and Finance Summit at Bogazici University

The 13th Islamic Economics and Finance Summit opened Tuesday at Bogazici University in Istanbul, gathering experts to discuss fair financial systems and Türkiye's emerging role in the global participatory finance landscape. The event, organized by the Islamic Economics Research Center (IKAM) of the ILKE Foundation, aims to develop economic models that prioritize social justice.

Focus on Fair Finance and Economic Justice

ILKE Foundation Chairman Ahmet Saik Oner emphasized the organization's commitment to creating an economic system that "protects people and labor and minimizes economic systems' injustices." Speaking at the opening ceremony, Oner highlighted the foundation's "fair finance approach" and expressed confidence in Türkiye's progression toward becoming a global center for participatory finance, an alternative banking system consistent with Islamic principles.

Addressing Structural Challenges

Oner identified significant structural challenges within Türkiye's legal, educational, and economic frameworks, stressing that strengthening standards and regulations remains crucial for development. "There is a very serious need for comprehensive legislation, especially in Türkiye," he noted, pointing to the importance of institutional reforms for advancing the Islamic finance sector. These comments underscore the summit's practical approach to addressing implementation barriers.

Evolution and Recognition in Islamic Economics

IKAM Director Melih Turan reflected on the event's transformation from a modest academic workshop into a comprehensive summit engaging both academia and the financial industry. The summit included the eighth Islamic Economies Award Ceremony, recognizing achievements in contribution, research, thesis, and education categories. The event continues with multiple panel discussions throughout the day, fostering dialogue between theoretical research and practical financial applications.