Islamic finance in the global economy up for discussion in Istanbul

Experts from around the world will discuss the role of from September 8-9.

The first annual symposium on Islamic finance has been organized by The World Bank Group's Global Islamic Finance Development Center, in collaboration with Borsa Istanbul, the Islamic Development Bank, the Islamic Research and Training Institute, and the Guidance Financial Group.

The two-day symposium, of which Anadolu Agency is the media partner, will open in Istanbul on Tuesday.

A broad range of participants from academia, policy-making circles, and the private sector from around the region as well as their counterparts from other regions are expected to join the symposium which aims to promote the exchange and advancement of ideas and to foster innovation and discussion in Islamic economics and finance.

The inaugural symposium will be held under the theme: "Islamic Finance: A Catalyst for Shared Prosperity".

"We hope this symposium will contribute to the continued understanding, advancement, and awareness of Islamic finance." Gloria Grandolini, Senior Director at the World Bank Group said in a statement released by Borsa Istanbul on Monday.

"The organization of this symposium is not only a validation of this practice, but of its global acceptance and adoption," Ahmed Tiktik, Vice President of Islamic Development Bank said. "I hope this symposium will pave the way to directing our efforts toward the noble goal of leveraging Islamic finance for creating a more prosperous and inclusive world for everyone."

"The organizers of the symposium are committed to promoting and developing the 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," the statement said.