Events Showbiz
Madinah’s Milestone 45th AlBaraka Symposium Ignites Future of Shariah Finance
Prince Salman bin Sultan bin Abdulaziz, Governor of Madinah, officially opened the 45th AlBaraka Islamic Economics Symposium at Prince Muqrin bin Abdulaziz University, uniting global thought-leaders under the theme Islamic Banking in Fifty Years: Past Achievements and Future Aspirations.
Royal Court adviser and Council of Senior Scholars member Sheikh Saad Al-Shathri highlighted Saudi Arabia’s unparalleled dedication to Shariah-compliant banking—over 85 percent of national banking operations now adhere fully to Islamic law, setting a global benchmark for ethical finance.
Sheikh Muhammad Taqi Usmani, President of Jamia Darul Uloom Karachi and AAOIFI Shari’ah Board Chair, underscored the system’s pivotal role in balancing faith-based objectives with modern financial needs, affirming that sustaining its moral core and societal impact remains the industry’s foremost challenge.
Abdullah bin Saleh Kamel, Chair of the AlBaraka Forum for Islamic Economy’s Board of Trustees, marked this edition as a landmark in the 50-year journey of Islamic banking and unveiled the inaugural Saleh Kamel Islamic Economics Award to honour visionary leaders who champion social benefit and responsible investment.
The symposium advanced three strategic memoranda of understanding:
Between the Madinah Principality’s non-profit sector center and the Saleh A. Kamel Humanitarian Foundation to bolster regional social development;
With Spectreco to create an Islamic sustainability index that harmonizes Shariah compliance and ESG standards;
And with the University of Jordan to deepen academic exchanges and professional training in Islamic finance.
By fusing half a century of achievements with cutting-edge partnerships, the forum paves a visionary path for Shariah-compliant digital banking, sustainable investment, and ethical finance—strengthening the Islamic financial ecosystem under Saudi Arabia’s Vision 2030 and beyond.
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