Arab Today, arab today turkish stock exchange boss praises islamic finance
Last Updated : GMT 21:53:08
Arab Today, arab today
Arab Today, arab today

Turkish stock exchange boss praises Islamic finance

Arab Today, arab today

Arab Today, arab today Turkish stock exchange boss praises Islamic finance

Head of Borsa Istanbul
Istanbul - Anadolu

Islamic finance is not only important for Muslims but also good for the benefit of both the global and emerging economies, the head of Borsa Istanbul said on Tuesday.
Ibrahim Turhan was speaking at a major conference on Islamic finance being held in Istanbul.
Turhan said: "We have to develop an alternative in order to cope with the existing problems of the world economy.
"Islamic finance can be a very good opportunity which will facilitate emerging markets," he added.
Sharia-compliant finance avoids charging interest, which is 'haram' [forbidden] in Islam.
Professor Salih Tug of Marmara University’s Faculty of Theology told the first session of the conference how banking has changed in Western world.
During the 15th and 16th centuries both Christians and Jews focused on creating an interest-free economy, based on their holy books, he said.
"After the 15th century, things changed and the interest-free system was replaced by interest-based system, which opened the gates to a new capital system which focused on generating and collecting interest."
Stating that today the world has "this Western type of banking", Tug said:
"The Islamic world is now taking active steps to realize interest-free banking, encouraging people to engage in interest-free activities and creating interest-free financing."
Also speaking at the conference was the Mufti of Istanbul, Rahmi Yaran, who said that Islam determined one's world view concerning all spheres of life, stressing that there are certain principles for a Muslim person in economic life.
"Interest is of course familiar to Islamic society, however, Allah has forbidden it (...) The Quran says interest is against the faith, and says if a person is a real believer, he should avoid what remains from interest," he said.
Speaking later, Turkey’s Capital Markets Board chairman Vahdettin Ertas compared European financial centers with those in Eastern Europe and Central Asia, claiming Istanbul ranks 42nd among all global financial centers.
He said with the Istanbul Financial Center Project, the aim is to establish Istanbul as a regional financial center and then a global financial hub by 2023.
A signing ceremony was also held between Capital Markets Board of Turkey and the Qatar Financial Markets Authority.
"This is a good start to strengthen cooperation between the two authorities," said Ertas adding that Qatar is a significant Gulf country for Turkey.

 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today turkish stock exchange boss praises islamic finance Arab Today, arab today turkish stock exchange boss praises islamic finance

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today turkish stock exchange boss praises islamic finance Arab Today, arab today turkish stock exchange boss praises islamic finance

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque

GMT 17:28 2017 Thursday ,18 May

Saudi stocks rise in heavy trading

GMT 21:37 2017 Wednesday ,17 May

US Stocks Close Mixed

GMT 04:58 2017 Wednesday ,17 May

Tadawul index gains 0.7%

GMT 06:20 2017 Tuesday ,16 May

Tadawul index climbs 0.6%

GMT 13:43 2017 Monday ,15 May

Oman share index declines marginally
View News in Arabic - Business: أسواق مالية
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday