Financial crises cannot be prevented unless the world shifts to an economic and financial paradigm centred on justice, morality, production, and fair sharing, Turkish President Recep Tayyip Erdogan has said.
“When we say ‘a fairer world is possible,’ we mean humanity is not condemned to a single system in economy, international relations,” Erdogan said on Friday at the 3rd Global Islamic Economy Summit in Istanbul.
His remarks came as he underlined the need for alternative approaches in the global economic and financial system, saying Türkiye’s long-standing call for a more equitable international order also applies to economic relations.
“When we say ‘a fairer world is possible,’ we mean humanity is not condemned to a single system in economy, international relations,” he said.
Erdogan said the global and regional environment continues to face mounting challenges, adding that the climate of trust and stability in Türkiye’s region is being increasingly damaged by war, crises, fraternal strife, and uncertainty.
He said participatory finance offers a viable alternative in this environment.
“Participation finance is a fairer, safer model not only for Muslims, but for the whole world,” Erdogan said.
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