Second International Islamic Finance and Economics Conference and OIC Member States Stock Exchanges Forum 9th Meeting held
"Second International Islamic Finance and Economics Conference" and "OIC Member States' Stock Exchanges Forum 9th Meeting" held on November 19 with broad participation from international speakers at The Marmara Hotel, Taksim. Distinguished academics, policy makers and private sector executives gathered for both events.
Second International Islamic Finance and Economics Conference, held in cooperation between Borsa İstanbul and Marmara University Faculty of Theology on November 19 at The Marmara Hotel, Taksim.
The first panel of the conference; "The Process of Fatwa and Supervision in Islamic Financial Institutions" was followed by subsequent panels "Basic Concepts and Institutions of Islamic Economics" and "The Applications of Islamic Finance throughout the World". Speakers from Malaysia, Gulf Countries and Turkey discussed various dimensions of Islamic Finance and Economics.
Fundamental concepts of Islamic Finance and Economics evaluated during the conference shedding light on historical roots and current reflections. Islamic finance cases in Turkey, Malaysia, Gulf and West reviewed in detail. The conference brought together distinguished academicians, practitioners and policy makers.
Anadolu Agency sponsored Second International Islamic Finance and Economics Conference as the Global Communications Partner.
Dr. İbrahim M. Turhan, Member of the Parliament, İzmir from the Justice and Development Party, delivered a keynote speech at the Conference. In his speech, Turhan said that statement of Islamic finance in the G20 Leaders' Communiqué at the Summit held in Antalya is a very important gain. Turhan underlined that Islamic finance was expressed as "alternative financing methods" in the Communiqué as a result of Turkey's efforts, and went on to say, "The world we live in is face to face with a changing economic political structure. Developing countries have increased dominance in the global economy. Actually, the emergence of G7 after G20 is a result of this change. The world needs the ethics and humanity emphasized by the Islamic finance system. Islamic finance is very important in ensuring justice and stability, as stated by His Excellency President Erdoğan at the B20-L20 meeting. We expect Islamic finance to fulfill the investment shortage in developing countries and emerging markets, and play a role in increasing financial inclusiveness through the ethical and humane values it offers to the economic life. In the G20 Leaders' Communiqué, these are stated as the expectations from Islamic finance".
During his opening remarks, Prof. Dr. Mehmet Emin Arat, President of Marmara University pointed out that; "even though one can trace the science of Islamic Economics and Finance back to the early days of Islam, studies under the particular title of Islamic economics and finance did not start until the beginning of twentieth century and accelerated only after the second half of the twentieth century." Prof. Arat expressed in his speech the significance of scholarly organizations such as this one for the development of the field and expressed his wish to see this type of events to be organized every year going forward. He concluded his speech by thanking the organization committee from Borsa Istanbul and Marmara University Faculty of Theology.
Dr. Talat Ulussever, Chairman of Borsa İstanbul said; "It is necessary to facilitate easier distribution of capital to larger numbers in the society and to increase investment modalities in high return financial instruments particularly for low and middle income groups by developing new products and practices in Islamic Finance and Economics. I think this way, it would be possible to contribute to the economy while making progress towards reducing income inequality. To this end Borsa İstanbul, together with other capital markets actors, works towards establishing instruments that support financing of big projects in construction, energy, information technology and defense industry by the public and where the generated revenue is shared with the public.
OIC Member States' Stock Exchanges Forum 9th Meeting
OIC Member States' Stock Exchanges Forum 9th Meeting is held on Thursday afternoon, November 19 at The Marmara Hotel, Taksim. OIC Member States' Stock Exchanges Forum Meeting is organized by Borsa İstanbul annually since 2005 to foster cooperation among exchanges of OIC member countries.
Senior executives of exchanges, clearing, settlement and registration institutions of OIC Member States participated in the closed meeting. Presentations delivered by Qatar Stock Exchange CEO Rashid Ali al-Mansoori, Iran Central Securities Depository (CSD) CEO Mohammad Reza Mohseni and S&P Dow Jones, Head of Middle East, Africa & CIS Charbel S. Azzi.
In his opening remarks at the OIC Member States' Stock Exchanges Forum 9th Meeting Borsa İstanbul CEO Tuncay Dinç said "Islamic capital markets can be seen as dispersed and fragmented globally. However, if we can all work together to establish networks between our markets, we can turn this network of branches to our advantage when serving the 1.6 billion community all around the world. This is the very reason that we are here today, to extend our network and set up the relevant action plans to move forward."
COMCEC Capital Market Regulators Forum 4th Meeting
COMCEC Capital Market Regulators Forum 4th Meeting is held in parallel with the OIC Member States' Stock Exchanges Forum. The Forum is organized at The Marmara Hotel, Taksim with the participation of Dr. Vahdettin Ertas, Chairman of Capital Markets Board of Turkey, and high level representatives of capital market regulatory authorities from COMCEC Member States. Capital Markets Board of Turkey and Monetary Authority of Brunei Darussalam signed an MoU during the Forum.