Under the Patronage of Prince of Madinah Region, AlBaraka Symposium on Islamic Economics Kicks Off 45th Edition Today

Under the auspices and presence of HRH Prince Salman bin Sultan bin Abdulaziz, prince of Madinah region. The 45th AlBaraka Islamic Islamic Economics Symposium will commence Today, Wednesday, April 16, 2025, Under the theme "Islamic Banking in Fifty Years: Past Achievements and Future Aspirations," bringing together an international assembly of financial experts, government officials, and thought leaders from over 15 countries, in a gathering that is considered the largest of its kind in the region, held at university of prince Mugrin’s female campus, our proud hosting partner, while Al Baraka Group remains the forum’s global partner since day one—demonstrating its continued commitment to supporting the growth of the Islamic economy and encouraging thoughtful dialogue on its future and impact.

Among the prominent participants, H.E. Sheikh Dr. Saad bin Nasser Al-Shithri, Advisor to the Royal Saudi Court, member of the Council of Senior Scholars – kingdom of Saudi Arabia, H.E. Sheikh Abdullah bin Suleiman Al-Manea, Advisor to the Royal Saudi Court, member of the Council of Senior Scholars – kingdom of Saudi Arabia, H.E. Judge Muhammad Taqi Usmani, Head of The Center for Islamic Economics, Pakistan, President, Jamia Darul Uloom, Karachi, Pakistan, Chairman of the Sharia Council, Accounting and, Auditing Organization for Islamic Financial Institutions, (AAOIFI) – Bahrain, H.E. Tan Sri Abdul Wahid bin Omar, Chairman, Board of Directors, Bursa Malaysia – Malaysia, H.E. Mr. Bashar Al-Natoor, Managing Director and The Global Head of Islamic Finance, Fitch Ratings – United States of America, Sheikh Muhammad Taqi Usmani, the globally respected Chairman of the Shariah Council for the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) and President of Pakistan's Islamic Economics Center.

Financial market leaders participating in the symposium include Tan Sri Abdul Wahid bin Omar, Chairman of Bursa Malaysia, and Bashar Al-Natour, Managing Director and Head of Islamic Finance at Fitch Ratings in the United States.

The development finance sector will be represented by Dr. Sidi Ould Al-Tah, President of the Arab Bank for Economic Development in Africa, while Prof. Mohamed Azmi Omar, President of Malaysia's International Centre for Education in Islamic Finance (INCEIF), will bring perspectives from the educational sector.

Other distinguished participants include Dr. Hamed Merah, CEO of the Saudi Center for Commercial Arbitration, Dr. Omar Husseini from the OIC Arbitration Center in Turkey, former Egyptian Finance Minister Prof. Fayad Hassanein, Hammam Hashem, CEO and Board Member of the Kafalah Program, Saudi Arabia’s national loan guarantee program for small and medium enterprises, Professor Habib Ahmed, Sharjah Chair in Islamic Law and Finance at Durham University, UK, and a leading scholar in Islamic economics and law.

This year’s symposium explores six principal themes and over twenty subtopics across two days of in-depth discussion. The program aims to document the contributions of Islamic banking to the advancement of Islamic economic thought, highlight its achievements in supporting development, and promoting justice and sustainability, while also envisioning its future in light of global economic transformations. The symposium continues to embody the legacy of its founder, the late Sheikh Saleh Abdullah Kamel, who envisioned this event as a global platform for constructive dialogue and the development of Islamic economics.

The sessions cover a wide range of core issues, including the early experiences of Islamic banking, the current state of the industry across diverse economic systems, and the implications of regulatory and technological shifts. Dedicated tracks will address Shariah governance, innovation in Islamic financial instruments, and strategic growth through Islamic windows and acquisitions. A special focus will also be placed on the developmental and social roles of Islamic banks in advancing the Sustainable Development Goals (SDGs).

-A Leading Forum for Islamic Economic Thought for more than 4 Decades-

HRH Prince Salman bin Sultan bin Abdulaziz, prince of Madinah region

In recognition of the industry’s pioneers and in honor of institutional memory, the symposium will pay tribute to prominent individuals and organizations that have played a significant role in shaping the Islamic economy, both intellectually and practically. 

Mr. Abdullah Saleh Kamel, Chairman of the Board of Trustees of the AlBaraka Islamic Economics Forum, emphasized that since its inception in 1981, the symposium has served as a leading platform for constructive discourse on Islamic economic issues. He noted that the 50th anniversary of Islamic banking marks a key milestone for reflecting on past achievements and shaping its future direction.

He stated: "This year, we continue our mission to advance financial inclusion and stimulate innovation in Islamic financial services—ensuring they remain aligned with Shariah objectives while addressing contemporary needs. The distinguished presence of leading scholars, experts, and economists from around the world confirms the symposium’s stature as a premier global forum for knowledge exchange and a platform for positioning Islamic economics as a driver of justice, balance, and prosperity."

Mr. Yousef Hassan Khalawi, Secretary-General of the AlBaraka Forum, noted that the current edition represents the continuation of a five-decade scientific journey, during which the symposium has served as a major source of intellectual contributions to Islamic economic thought and efforts to build fair and sustainable financial systems.

He commented: "With our theme this year— Islamic Banking in Fifty Years: Past Achievements and Future Aspirations for the Future—we seek to shed light on the sector’s evolution while anticipating its next chapter. Through commissioned research and expert discussions, we aim to produce practical recommendations rooted in Islamic principles, reinforcing the symposium’s role as a global reference and annual gathering for professionals in the field."

Side events will be held on Tuesday, April 15, 2025, featuring two specialized workshops addressing emerging topics in Islamic finance, including governance and financial product development. The symposium will also witness the signing of several cooperation agreements with international institutions, further cementing AlBaraka’s status as a hub for global thought leadership in Islamic economics.

Abdullah Saleh Kamel, Chairman of the Board of Trustees of the AlBaraka Islamic Economics Forum

As part of the opening ceremony, a short documentary titled “Glimpses of Islamic Banking: From Inception to Contemporary Reality” will be screened, tracing the evolution of Islamic finance from theoretical foundations to practical global application, and celebrating the contributions of its early pioneers and institutional innovators.

This year’s symposium also features the beta launch of the Saleh Kamel Islamic Economics Database—a major initiative of the AlBaraka Forum. The platform aspires to become the world’s foremost resource on Islamic economics, offering structured data on institutions, thought leaders, Shariah rulings, the halal economy, and related sectors—supporting researchers, practitioners, and policymakers around the globe.

For the second consecutive year, the symposium will host eight young scholars through its Young Researchers Hosting Grant Program. This initiative reflects the Forum’s commitment to supporting academic excellence and fostering a new generation of experts in Islamic economics. By providing an interactive and inclusive environment, the program connects early-career researchers with leading scholars and professionals in the field.

The symposium will also announce the nomination themes for the Saleh Kamel Award for Islamic Economics, which was launched to commemorate the founder’s pioneering contributions and to promote excellence in research. The award aims to support specialized academic production, spotlight emerging talent in Islamic finance and jurisprudence, and help expand the global influence of Islamic banking.