World-renowned Intellectuals Convene in İstanbul to Discuss the Future of the Global Financial System

Ankara, July 5, 2013 – The Statistical, Economic and Social Research and Training Centre for Islamic Countries (SESRIC), a subsidiary organ of the Organisation of Islamic Cooperation (OIC), in collaboration with the Participation Banks Association of Turkey (TKBB), Borsa İstanbul, Islamic Development Bank Group (IDB), and the Association of Independent Industrialist and Businessmen of Turkey (MÜSİAD), organizes the “International Forum on Financial Systems (IFFS)”, which will be held for two days from 11 to 12 September 2013 at WOW Convention Center in İstanbul, Turkey. The Forum will bring together world-renowned intellectuals including eminent economists, statesmen and policy-makers, heads of international organisations, as well as industry practitioners in Istanbul to explore the potential avenues for building a more just, inclusive and stable financial system for generations to come.

The Presidency of the Republic of Turkey has also granted its auspices to the event – underlining the state-level support given to the Forum and its successful implementation.

The Forum comes at a time when the world still continues to struggle for curing the adverse effects of the global finance crisis which broke out back in 2007 and laid bare some structural problems in the health of the global financial system. The reform agenda which had been put forward and the reform actions taken so far by international actors have widely been recognized as inadequate and far from being able to restore the credibility of the existing global financial architecture and its ability to perform its basic functions – the most important of which is to serve the real sector and real economic activities. Given the on-going structural problems undermining the sustainability of the global financial system and endangering the world’s socio-economic development, the Forum will be held on the theme “Sustainable Finance for Sustainable Development”.

The meeting aims to be an interactive platform for tabling several critical issues such as: the critical perspectives and new visions for creating a more equitable, stable and sustainable financial system; the global financial architecture in the post-crisis era and the prospects and challenges for alternative financial systems; the modalities for promoting a more risk and reward participatory financial system; capital market developments and the development of alternative business models for financial Institutions; the role of financial systems in stability and inclusive sustainable development; as well as the potential ways for fostering entrepreneurship, private equity and venture capital in a more participation-based financial system.

For more information about the IFFS, please visit the official Forum website at

For inquiries, please contact the Forum secretariat at

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