From April 16–19, 2025, the city of Madinah hosted a major milestone event in the world of Islamic finance — the 45th AlBaraka Islamic Economics Symposium, held at Prince Muqrin bin Abdulaziz University. This year’s theme: “Islamic Banking in Fifty Years: Past Achievements and Future Aspirations.”
A Royal Start
The event was opened by Prince Salman bin Sultan bin Abdulaziz, Governor of the Madinah Region. Experts from across the globe in finance, economics, and Islamic law gathered for two days of discussion and collaboration.
Saudi Arabia Leads the Way
Sheikh Dr. Saad Al-Shathri, Advisor to the Royal Court, highlighted Saudi Arabia’s leading role in Islamic banking. He shared an impressive fact: over 85% of banking in the Kingdom follows Islamic principles, more than anywhere else in the world.
Honoring the Legacy
Abdullah Saleh Kamel, Chairman of the AlBaraka Forum for Islamic Economy, marked the event as a special one — celebrating 50 years since the birth of modern Islamic banking. He also announced the launch of the Saleh Kamel Islamic Economics Award, created to honor the pioneers of Islamic finance and encourage future innovation.
Islamic Finance as an Ethical Model
Sheikh Muhammad Taqi Usmani, a leading scholar, reminded attendees that Islamic banking is not just a financial system — it’s a moral and ethical alternative. He emphasized the need to stay true to Islamic values like justice, fairness, and social benefit.
New Partnerships and Projects
The symposium also saw the signing of three major agreements:
- Boosting Social Development in Madinah through a partnership between the local nonprofit center and the Saleh Kamel Humanitarian Foundation.
- Launching an Islamic ESG Index — a tool combining Islamic finance with global environmental, social, and governance (ESG) standards.
- Building Academic Ties with the University of Jordan to support research and training in Islamic economics.
A Look Back — and Ahead
A documentary film showed how Islamic banking grew from an idea into a global system. Discussions during the event also looked forward: how can Islamic finance adapt to the digital age, respond to global challenges, and remain true to its values?
A Bright Future
The 45th AlBaraka Symposium ended with awards for scholars and thought leaders. But more importantly, it lit the way forward — combining faith, ethics, and innovation to build a fairer financial future.
