Turkish VP urges stronger role for Islamic finance

ISTANBUL

Vice President Cevdet Yılmaz has said ethics-based finance can make significant contributions to the global economy at a time of deepening uncertainty.

Speaking at the 5th Global Business Excellence Gala at Dolmabahçe Palace in Istanbul, Yılmaz said international cooperation, solidarity and sustainable growth had become more important amid global economic challenges.

“With its ethics-based structure, Islamic finance holds tremendous potential to make significant contributions to the global economy,” Yılmaz said.

The gala was held as part of the 3rd Global Islamic Economy Summit, bringing together senior officials, business executives, financial institutions and representatives of the Islamic economy ecosystem.

Yılmaz said Türkiye remained committed to expanding participation finance and interest-free financial systems.

He also said Istanbul was taking important steps toward becoming an international financial center.

“I firmly believe that the future of the Islamic economy will be shaped by the strong partnerships demonstrated here and the joint projects that will emerge from them,” he said.

Abdullah Saleh Kamel, chairman of the Board of Trustees of the AlBaraka Forum for Islamic Economy, also addressed the event and underlined the importance of international cooperation.

“Your esteemed presence here clearly reflects the importance of the collaborations we will build together to further advance the global Islamic economy,” Kamel said.

The gala served as a platform for discussions on ethical finance, sustainable development and international cooperation.

The summit’s strategic partners included the Investment and Finance Office of the Presidency, the Türkiye Wealth Fund, Istanbul Finance Center, the Islamic Cooperation Youth Forum and Ibn Haldun University.

The program concluded with networking sessions among participants at Dolmabahçe Palace.