Madinah – April 17, 2025 (19 Shawwal 1446H):
Under the gracious patronage of the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud – may God protect him – and on his behalf, His Royal Highness Prince Salman bin Sultan bin Abdulaziz, Governor of Madinah Region, opened the 45th session of the Al Baraka Symposium for Islamic Economics, held this year under the theme "Islamic Banking at Fifty: Past Achievements and Future Hopes," with the participation of leading scholars, experts and specialists in Islamic economics and finance from within the Kingdom and abroad.

Prince Mugrin bin Abdulaziz University hosted the two-day symposium, drawing significant interest from academic and banking institutions, to discuss the rapid developments in the Islamic banking sector and its future challenges.

Royal Support and Recognition of the Kingdom's Leading Role

In remarks during the opening ceremony, Sheikh Dr. Saad bin Nasser Al-Shathri, advisor at the Royal Court and member of the Council of Senior Scholars, affirmed that the Kingdom has become a global model in applying the principles of Islamic economics, noting that more than 85% of banking operations within the Kingdom are managed in accordance with Sharia rulings – reflecting the government's firm commitment to promoting values of justice and transparency in the economy.

A Global Award Named After Saleh Kamel

In a moving address, Abdullah bin Saleh Kamel, Chairman of the Board of Trustees of the Al Baraka Forum, announced the launch of the first edition of the "Saleh Kamel Award for Islamic Economics," to honor pioneers and influential figures in the field worldwide, while emphasizing Madinah's role as the launching point for an award that represents a civilizational and ethical dimension of Islamic banking.

International Participation and Notable Memoranda of Understanding

Sheikh Muhammad Taqi Usmani, Chairman of the Sharia Board of the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI), also spoke, noting that Islamic banking is not merely a technical alternative, but a comprehensive civilizational project that reflects the objectives of Sharia in achieving social justice and sustainable development.

On the sidelines of the symposium, three memoranda of understanding were signed:

  • A partnership between the Nonprofit Sector Center and the Saleh Kamel Humanitarian Foundation.
  • A memorandum for the "Islamic ESG" project, to measure sustainability according to Sharia standards.
  • An academic cooperation agreement between the Al Baraka Forum and the University of Jordan.

Honoring Pioneers, Reflecting on the Future of Islamic Finance

The ceremony concluded with the region's governor honoring a number of prominent figures who contributed to establishing and supporting the Islamic economic system over past decades, in a ceremony marked by tribute and a forward-looking vision.