The “3rd Islamic Accounting and Finance Conference” held at Hasan Kalyoncu University took place with the participation of 79 scientists from 10 different countries and representatives of the sector’s highest-level institutions and organisations. Among the topics discussed in the 3 panels in the congress programme were the Participation Banking System, Its Problems and Opportunities; Islamic Finance and Islamic Business Practices in Preventing Economic Crises; and Islamic Economics and Development.
The conference, held at the Congress and Culture Centre, took place with the participation of Banking Regulation and Supervision Agency (BDDK) President Mehmet Ali Akben, Hasan Kalyoncu University Deputy Chair of the Board of Trustees Haluk Kalyoncu, Ziraat Katılım General Manager and Congress Sponsor Metin Özdemir, Participation Banks Association of Türkiye President Osman Çelik, HKU Rector Prof. Dr. Türkay Dereli, Organising Committee Chair Prof. Dr. Mazlum Çelik, academic Taha Meli Arvas, Congress Guest of Honour Prof. Dr. Mehmet Asutay, as well as influential accounting and finance academics from Türkiye and around the world, accounting and auditing firms, bureaucrats, accountants and students. Among the topics to be discussed in the 3 panels in the congress programme will be the participation banking system, its problems and opportunities; Islamic finance and Islamic business practices in preventing economic crises; and Islamic economics and development.
WE HAVE PAVED THE WAY FOR BANKING IN THE ELECTRONIC ENVIRONMENT IN OUR COUNTRY
Stating that they have enabled banks to conclude contracts with customers electronically by using the remote identification method, BDDK President Akben said, “One of the issues that may deeply affect our general finance sector, our participation finance sector and our accounting practices in the coming period is the digitalisation of financial services. Today we see that many financial services have begun to be offered in digital environments through internet infrastructure and the use of different communication technologies. Digital financial applications allow operating costs to fall, financial inclusion to increase and new products and services to be offered. Our banks need to make the necessary investments in this area in order to preserve their competitiveness on a global scale. As BDDK, we have taken important steps in this area in recent periods. With the Regulation we published in April 2021, we enabled banks to establish contracts with their customers electronically using remote identification methods. In December of the same year, by publishing the ‘Regulation on the Operating Principles of Digital Banks and Service Model Banking’, we paved the way for banking in the electronic environment in our country.”
ACADEMIC STUDIES IN THIS FIELD SHED LIGHT ON INNOVATIONS
Emphasising that new digital banking and insurance methods are developing in global economic instruments, HKU Deputy Chair of the Board of Trustees Haluk Kalyoncu said, “Owing to interest sensitivity, the Islamic world is seen to show growing interest, day by day, in participation banking and asset-based systems, as an alternative to conventional banking and insurance methods, in the utilisation of savings, the safeguarding of assets and the meeting of funding needs. To meet this demand, the share of participation banking within the banking system in our country has reached 7%, and this ratio is expected to rise to 15% by 2025. While new digital banking and insurance methods are developing in global economic instruments, academic studies in this field also shed light on different perspectives and some radical innovations.”
THE SIZE OF OUR EXTENDED FUNDS HAS REACHED 369 BILLION TL
Participation Banks Association of Türkiye President Osman Çelik said, “Participation banks continued to contribute to economic growth in many ways in 2021 as well. Our assets reached 717 billion TL and the share of assets in the banking sector reached 8%, while the size of our extended funds reached 369 billion TL. Our participation banks, which continue to provide resources to the real sector and trade, also provided more than 100 billion TL in resources to SMEs in this period. Considering that this financing makes up 27% of total funds, it will be seen that we attach special importance to supporting our SMEs. By increasing our market share in collected funds sustainably since 2012, we have raised our share in the sector to 10%. In addition, at the end of 2021 we began to see on our balance sheets the positive effects of the regulations aimed at converting foreign currency to TL and increasing TL savings.”
I AM FULLY CONFIDENT THAT PARTICIPATION BANKING WILL REACH ITS STRATEGIC GOALS IN THE COMING PERIOD
Ziraat Katılım General Manager and Congress Sponsor Metin Özdemir said, “Coming together with the international representatives of Participation Banking to share knowledge, and conducting scientific evaluations in order to reach wide audiences, always add strength to our sector. The Islamic Finance and Accounting Congress is of great importance in this sense. Interest is steadily growing in Participation Banking, which is based on supporting production, trade and a sustainable economy with the savings of depositors. All the activities we carry out and all the new steps we take aim to add value to society. I am fully confident that Participation Banking will reach its strategic goals in the coming period.”
79 SCIENTISTS FROM 10 DIFFERENT COUNTRIES PARTICIPATED
Rector Dereli, noting that much up-to-date information would be presented in two separate panels with the participation of representatives of the highest-level institutions and organisations, said, “As Hasan Kalyoncu University, while striving to train graduates who can meet our country’s need for qualified human resources in economics and finance, we do not neglect to carry out work aimed at solving the problems of the business world and to hold scientific meetings that guide investors and managers. Today we are happy to hold, all together, one of these, the 3rd International Islamic Finance and Accounting Congress. In our congress, held with 79 scientists from 10 different countries and representatives of the sector’s highest-level institutions and organisations, the papers to be presented, the keynote and invited speeches and the panel discussions in areas such as Islamic Finance, Islamic Economics and Insurance will fill a large gap in the literature and add value to the field.”
The opening of the Islamic Accounting and Finance Conference, which will continue for 3 days, ended with the presentation of plaques.
