3rd Global Islamic Economy Summit continues on its second day

ISTANBUL (AA) – Turkey Wealth Fund (TVF) General Manager Salim Arda Ermut stated that they see Islamic finance as an important part of their long-term strategies and said, “We are determined to support the growth of Islamic finance in the coming period.” he said. The second day of the 3rd Global Islamic Economy Summit, held at the Istanbul Financial Center Halkbank Headquarters within the scope of the AlBaraka Summit Series and under the auspices of the Presidency, of which Anadolu Agency is the “Global Communication Partner”, is being held.

Speaking at the opening event of the summit today, Turkey Wealth Fund General Manager Ermut noted that policy makers, financial institutions, investors, business leaders and academicians from different parts of the world came together at the summit, and said that Istanbul is very meaningful for such a meeting. Stating that the Istanbul Financial Center (IFM) is part of a long-term vision for the Turkey Wealth Fund, Ermut said, “IFC has made serious progress since 2023.

Serious public institutions and regulatory authorities have been deployed in this center. Today, it hosts approximately 20 thousand people. “Professionals continue to grow here in the same way.” he said. Ermut stated that the “One Stop Office” service launched in Istanbul Financial Center to accelerate investment processes will accelerate, simplify and make investments more effective, and explained that trust, accessibility and quality are at the heart of IFM.

– “We are determined to support the growth of Islamic finance” Salim Arda Ermut, talking about the negativities experienced in the global economy in recent years, said that Islamic finance supports productive activities and makes long-term development possible. Explaining that Islamic economy sees capital not only as a financial instrument but as something that creates value, supports entrepreneurship and productive activities, and contributes to social well-being in a broader sense, Ermut explained that transparency and ethical responsibility do not only concern Muslim communities, but their importance in the global system is increasing day by day.

Ermut noted that they have carried out significant Islamic finance transactions in the last 2 years and said, “As the Türkiye Wealth Fund, we see Islamic finance as an important part of our long-term strategy.” he said. Talking about the international resources provided by companies affiliated with the Turkey Wealth Fund in the field of Islamic finance, Ermut made the following evaluations: “These developments show how important Islamic finance is for Turkey in terms of long-term capital.

With this vision, we established Türkiye Katılım Sigorta and Türkiye Katılım Hayat to support participation. We support partnerships with international organizations from different parts of the world. Because we believe that the future of Islamic finance depends on the establishment of a strong, inclusive and globally connected financial ecosystem. We are determined to support the growth of Islamic finance in the coming period.” Ermut noted that Islamic finance is more than an alternative source of financing and said, “It is a way of rethinking capital.

It supports productivity, responsibility and creating value for society. Today, we now have to contribute to a more durable, more inclusive and sustainable financial system.” he said. – “We want to increase trade within the Organization of Islamic Cooperation” Presidential Investment and Finance Office President Ahmet Burak Dağlıoğlu stated that they have been organizing this event by making efforts for a long time and talked about the contributions of being together with such a diverse group.

Stating that there have been good developments in the field of Islamic finance in Turkey in the last year, Dağlıoğlu explained that the Presidential Investment and Finance Office focuses on 4 key areas, the first of which is “internationalization”, that they are trying to match Islamic finance in Turkey with the international field, and in this context, they have made various visits to the Gulf countries, the United Kingdom, Malaysia and Indonesia in the last year.

Referring to the international events they have organized in Turkey in recent years, Dağlıoğlu said, “We have determined the Gulf countries as close friends in terms of Islamic economy. Of course, we will establish relations with the countries of Southeast Asia, Africa, Turkestan and Central Asia. We will also establish relations with Eastern European and Balkan countries in this regard.” he said. Emphasizing that Turkish companies’ access to Islamic financial instruments is an important issue, Dağlıoğlu continued: “I am talking about a large-scale access to international markets and the issuance of sukuk.

Hopefully, corporate participation in Islamic finance instruments will increase in this field. Another important project is, maybe it is a little early to say this, but we want to increase trade within the Organization of Islamic Cooperation. We have created a task force. This task force will be under the leadership of Prof. Dr. Mehmet Bulut. We will focus on some FinTech instruments and Islamic financial instruments.” “We will use it.” – “We want to collect the data of development banks on a platform.” Ahmet Burak Dağlıoğlu stated that the second area they focus on is “strategy development” and said, “We will continue to work with the Islamic Development Bank Group on Islamic finance strategy in the coming period.

There will be a concrete documentation at the end of the year. Thirdly, we focus on the development and development of the ecosystem.” he said. Sharing the details of the “One Stop Office” service opened in Istanbul Financial Center, Dağlıoğlu made the following evaluations: “Infrastructure and capacity building are extremely important for us. There are two news regarding this. The first one will come next week. We want to create an open data bank.

This will be about the data of development banks. The issue of data related to Islamic finance has emerged. By creating a digital platform that brings together all accessible information related to capital markets, there will be things that will interest everyone. Another important issue is capacity building. We also focus on new talent development. There are many NGOs that carry out educational activities. “We are also partnering with them.” Reminding that the new incentive period has begun in the Istanbul Financial Center with the innovations announced by President Recep Tayyip Erdoğan, Dağlıoğlu said, “We will focus on private funds and make efforts to position them in Turkey.

If you move the capital to Turkey, there will be no taxes. Income tax will not be the same in 20 years. Many other issues will also be included in the package.” he said.