“We as the Islamic world should elevate investment and cooperation opportunities among us to the highest level”
Speaking at the 2nd Global Islamic Economy Summit, President Erdoğan said: “We as the Islamic world should elevate trade, investment, finance and cooperation opportunities among us to the highest level. I believe that the ongoing and future debates in our summit, which is being held under the theme of ‘Islamic Economics Strategies: Path to Influential Global Economy’, will be very useful in this regard.”
President Recep Tayyip Erdoğan attended the 2nd Global Islamic Economy Summit held at Istanbul Financial Center.
Delivering a speech at the summit, President Erdoğan said: “As Muslims we constitute the 25 per cent of the world population but the magnitude of the Islamic finance sector stands at about 2.5 trillion dollars. The share of the 57 member countries of the Organization of Islamic Cooperation, which is the second biggest international organization after the United Nations, in world’s trade, however, is around 11 percent. We constitute nearly the 9 per cent of the global trade, which corresponds to the 25 per cent in terms of population. This figures tell us that we as the Islamic world should elevate trade, investment, finance and cooperation opportunities among us to the highest level. I believe that the ongoing and future debates in our summit, which is being held under the theme of ‘Islamic Economics Strategies: Path to Influential Global Economy’, will be very useful in this regard.”
“WE ATTACH GREAT IMPORTANCE TO THE DEVELOPMENT OF PARTICIPATION FINANCE”
Stating that Türkiye always acts with the responsibility of being in a geography that has built bridges between cultures and people throughout history, President Erdoğan noted: “The steps we are taking to make Istanbul a global hub offer new opportunities to the Islamic finance world as well as our country. The joint works we have launched under the roof of Istanbul Financial Center is the most concrete sign of not only the integration to the global economy, but also of our efforts aimed at building a model that protects our Islamic values. We attach great importance to the development and growth of participation finance with Istanbul as its center. Their unique locations, experiences and potentials provide Istanbul and Istanbul Financial Center with very significant advantages.”
“The increasing inequalities, confidence crisis caused by financial depressions and serious economic risks accompanying climate changes urge others as well as us to develop new models,” President Erdoğan stressed, and added: “At this very point, the Islamic economic principles stand out with their unique structure that focusses on risk sharing, justice and social solidarity. However, I need to point out hereby that we are still far away from our targeted levels. To be honest, we do not deem it to be sufficient that the participation banking, despite all our incentives, still remains at 8.1 per cent in our country.”
“WE ARE PREPARING TO RE-HOST THE NEGOTIATIONS AIMED AT ENDING THE RUSSIA-UKRAINE WAR”
Further stating that Türkiye also endeavors to remove the traces of the earthquake disaster, whose direct economic cost approximated 105 billion dollars, President Erdoğan went on to say: “The amount of the resources we have used to that end in the past two years has reached 75 billion dollars. We have delivered the keys of the 201 thousand houses, and are planning to deliver the keys of the 252 thousand houses to our earthquake victims by the end of this year. So, we are putting up really intensive struggles in many fronts.”
“Our neighbor Syria gradually finds stability with the December 8 revolution following bloody conflicts that lasted for 13.5 years. Our contacts and cooperation with other countries in the region are getting stronger. We are preparing to re-host the negotiations aimed at ending the Russia-Ukraine war in Istanbul after a 3-year hiatus. We are making every endeavor in order for the oppression in Gaza, where barbarities that make our consciences bleed take place, to end, and in order for a ceasefire to be immediately established. And we are advancing with strong steps towards our goal of terror-free Türkiye at home,” President Erdoğan said.
