Union of Chambers and Commodity Exchanges of Turkey

Speaking at the opening session of the 37^th Ministerial Meeting of the Standing Committee on Economic and Trade Cooperation of the Organization of Islamic Cooperation (ISEDAK), Hisarcıklıoğlu said that while Islamic countries should mobilize unity and solidarity, they are wasting their energy and resources through their conflicts.

Hisarcıklıoğlu stated that they should strengthen the conversation and be unifying. “‎The most important way to do this is through trade.‎ Because commerce is the greatest source of peace. The tradesmen doesn't talk about conflict, he doesn't look down on each other. Therefore, first, we must remove the trade barriers between our countries and increase trade with each other.”

Hisarcıklıoğlu stated that they have taken another important step in this direction and that ICCIA has started the establishment of the Arbitration Center of the Organization of Islamic Cooperation, and that they have completed the legal establishment process of the center, and asked the participants to support this arbitration center to be visible in their own countries.

Hisarcıklıoğlu explained that thanks to this center, they will make trade and investments between Islamic countries even more attractive and increase. The issue of visas remains a problem. People trade and invest not with the country they have difficulty getting in and out of, but with the country they can easily reach.”

- “We must develop and expand Islamic financial models”

ICCIA Acting President Hisarcıklıoğlu stated that countries should support vaccination processes in order to combat the pandemic and mentioned the work of Turkey and TOBB in this regard.

Hisarcıklıoğlu stated that financial support can be created especially for low-income Islamic countries to access vaccines. “‎In order to support the SMEs that form the basis of our economies, we must develop and expand Islamic financial models.‎ Because the current global financial system, built on interest and profit ambition, cannot protect entrepreneurs. This structure has become unhealthy, producing constant crises, where all other sectors feed the financial sector. As a result, the distribution of income and wealth around the world has gradually deteriorated, and the gap in prosperity between countries and societies has become increasingly wider. As an alternative to this distorted structure, we should promote Islamic finance and expand its use by integrating it with growing fintech applications.”