The 46th Al-Baraka Symposium on Islamic Economics discusses the charity and benevolence sector
The 46th Al-Baraka Symposium on Islamic Economics, one of the world's leading economic platforms, will commence tomorrow, Monday, at Prince Muqrin bin Abdulaziz University in Madinah. This year's symposium, themed "The Charitable Sector in the Islamic Economy: Towards a New Future," will feature a broad international presence, including prominent scholars, financial experts, and policymakers from 18 countries, who will discuss mechanisms for activating the third sector as a key driver of economic development.
A rich history and a global platform for economic development
The Al-Baraka Symposium derives its significance from being an extension of an intellectual and economic legacy spanning more than four decades, having been founded by the pioneer of Islamic economics, Sheikh Saleh Abdullah Kamel (may God have mercy on him). Throughout its history, the symposium has served as a fundamental reference point in establishing the foundations of Islamic financial transactions, and its rulings and recommendations have contributed to guiding the course of Islamic banking globally. Its convening in Medina further reinforces the symbolic importance of the city and its historical role as a cradle of lofty Islamic values that balance economic efficiency with social justice.
The charity and benevolence sector: a development engine, not just charity work
The current session strategically focuses on redefining the "charitable sector," moving beyond its traditional concept of limited to welfare aid to a productive and sustainable economic sector. The six main sessions and twenty themes discuss authentic Islamic economic instruments such as zakat, waqf, and interest-free loans, and how to utilize them to achieve social stability and economic growth. This approach aims to integrate non-profit organizations into the overall economic cycle, thereby boosting GDP and creating genuine employment opportunities, which aligns with modern global trends toward the social and solidarity economy.
Strategic partnerships and youth empowerment
The symposium is being held in strategic partnership between the Al Baraka Forum for Islamic Economics and Prince Muqrin bin Abdulaziz University, reflecting the integration of roles between the private sector and academic institutions. In this context, Abdullah Saleh Kamel, Chairman of the Board of Trustees, affirmed that the symposium seeks to realize its founder's vision of making Islamic economics a civilizational project that serves humanity. Secretary General Yousef Khalawi also emphasized the importance of financial innovation and linking charitable tools with modern technologies to maximize their impact.
The symposium places particular emphasis on empowering the next generation of economists, with events including:
- The "Bridges of Research and Application" session aims to connect academic theories with practical reality.
- The Young Researchers Hosting Grant, in its third edition, aims to integrate them with senior scientists and experts.
- Practical workshops for building institutional capacity in the field of Islamic finance.
Foresight
The symposium is expected to produce practical recommendations that contribute to the development of legislation and financial products that serve the charity sector, thereby enhancing the ability of the Islamic economy to provide effective solutions to contemporary economic challenges and achieve sustainable development based on values and ethics.
