The inaugural Al Baraka Islamic Economics Summit was held in Istanbul on May 24-25 at the Lutfi Kirdar International Convention and Exhibition Center. The event was organized in collaboration with the Investment Office of the Presidency of Turkey, Istanbul Financial Center, Turkish Sovereign Wealth Fund, Al Baraka Turk Participation Bank, and other institutions, showcasing the future trajectory of Islamic economics worldwide.

The opening session was graced by the presence of Turkish President Recep Tayyip Erdogan, who delivered a speech honoring Sheikh Saleh Kamel (may God have mercy on him). President Erdogan praised Sheikh Kamel not only as a successful businessman and visionary but also as a humanitarian dedicated to charity, aiding the needy, and supporting the underprivileged. He highlighted Sheikh Kamel’s significant contributions to the global development of Islamic economic tools and acknowledged Al Baraka Forum for Islamic Economics’ pivotal role in promoting Islamic economics as a viable economic model.

In his opening remarks, Abdullah Saleh Kamel, Chairman of the Board of Trustees of Al Baraka Forum for Islamic Economics, noted that the leadership in Islamic economics originated in Medina, the historic capital of Islamic economics, in 1981. He mentioned that the pioneering journey of participatory banking in Turkey began over 40 years ago with Al Baraka Turk Participation Bank, initiated by his late father, Sheikh Saleh Kamel, along with a group of partners and associates. This laid the groundwork for ethical banking committed to genuine principles. In 2020, just days before his passing, Sheikh Saleh Kamel announced the transformation of the symposium into the esteemed global institution, the “Al Baraka Forum for Islamic Economics.”

The first Al Baraka Summit in Istanbul was held under the theme “Global Prospects for Islamic Economics: Fundamentals and Needs.” The summit focused on exploring the core principles and values of Islamic economics, identifying trends and challenges in the global Islamic finance sector, building successful collaborations and partnerships between Turkey and Islamic countries, discussing strategies to advance Islamic economics in the digital age, and examining the role of youth in shaping the future of Islamic economics. The event featured keynote speeches, panel discussions, workshops, and networking sessions, providing valuable insights and opportunities for engagement with leaders in the field.

Al Baraka Forum for Islamic Economics is a global, independent, non-profit think tank dedicated to enriching research and serving the knowledge infrastructure of Islamic economics. The forum aims to build partnerships and alliances with regional and international entities to address contemporary economic challenges and developments in line with Islamic economy and finance principles. This enhances the forum’s output as a global beacon of economic and financial knowledge.