President Erdogan vows to make Istanbul pivot of Islamic economy, says such economic system can address ongoing global woes sparked by coronavirus pandemic
President Erdogan says Islamic tools offer a"key" to get out of global economic woes triggered by coronavirus pandemic, while vowing to make Istanbul centre of Islamic economy.
Islamic tools offer a "key" to get out of the economic woes the world is now facing, Erdogan told the audience at 12th International Conference on Islamic Economics and Finance in Istanbul via video. "Even the most prosperous countries have difficulty in providing masks to their citizens and cannot provide minimum health services," he said. Earlier this year, credit rating agency Moody’s announced that Turkey's Islamic banking assets are set to double within a decade, as government initiatives drive growth in the sector."We aim to make Istanbul centre of Islamic finance and economy," Erdogan said.
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