Istanbul: (IINA) – A Symposium on Islamic economics and finance will be held on September 8-9 in Turkey this year, according to Islamic Finance news website.
The inaugural Symposium of the World Bank Global Islamic Finance Development Centre, (GIFDC) is a 2-day event and will be held at Bogazici University, Albert Long Hall, in the Turkish capital Istanbul.
The GIFDC based in Istanbul, is a knowledge hub aimed to help the World Bank member countries take advantage of the rapid growth and potential of Islamic financial industry for economic development. Global Islamic Finance Development Center (GIFDC), Islamic Development Bank (IDB), Islamic Research and Training Institute (IRTI), Guidance Financial Group and Borsa Istanbul are pleased to organize the annual symposium bringing together a wide range of stakeholders from the industry and academia to engage in stimulating research. The aim is to promote exchange of cutting-edge ideas and foster objective discussion on Islamic economics and finance among academicians, policy makers, private sector and development practitioners. The symposium will allow people to gain practical and professional understanding of the issues of Islamic economics and finance relating to economic development. Islamic economics and finance and will enhance awareness of major current issues impeding the advancement of the industry. The symposium expects to provide a well-represented and a well-attended platform for the participants to discuss new knowledge related to developing Islamic economics and finance.
The theme of the symposium is Islamic finance: A catalyst for shared prosperity. The concept of risk-sharing in financial and social contracts is one of the unique features of Islamic finance while shared prosperity advocates for an economic and financial system that mobilize and allocate resources to the most productive ventures without at the cost of increased poverty and income inequality. While numerous researches on Islamic finance and other aspects of Islamic economy have been done, many aspects of risk-sharing and its relevance to shared prosperity are yet to be unveiled and hence needs to be worked on. The organizers of the symposium are committed to promoting and developing Islamic finance industry believing that the development of Islamic finance can play an important role in promoting inclusive growth, reducing inequality and accelerating poverty reduction.