MADINAH - Emir of Madinah Prince Faisal bin Salman graced the opening ceremony of the 43rd session of Al-Baraka Islamic Economics Symposium at Prince Muqrin bin Abdulaziz University here on Wednesday. Several experts and specialists in economics are taking part in the three-day event titled “Islamic economics and the genuineness of sustainability.”

In his opening speech, Chairman of the Board of Trustees of Al-Baraka Islamic Economics Forum Abdullah Saleh Kamel affirmed that Madinah witnessed the establishment of the major principles of the Islamic economic system to be part of the tolerant message of Islam, and today it is witnessing the launch of Al-Baraka Islamic Economics Symposium, which discusses the meanings of economic sustainability that preserves human dignity.

Addressing the symposium, Sheikh Saleh bin Abdullah bin Humaid, imam and preacher of the Grand Mosque, advisor at the Royal Court and member of the Council of Senior Scholars, emphasized the legislation and laws regulating the course of life and building development and its sustainability. “Islamic legislation and jurisprudence are a solid platform and a lofty beacon in the codification of rulings and the rules and regulations that establish the concept of sustainability and survival,” he said.

Bin Humaid pointed out that the concept of sustainability is rooted in the rules of Shariah, and the jurists have stipulated that “what is unforgivable in the beginning is forgiven in sustainability,” and this confirms Shariah’s care for safeguarding interests and not harming them.

The symposium aims to discuss a number of strategic economic and development issues that will set new landmarks on the way to strengthening the foundations of the national economy and restructuring it in the face of challenges. The major topics of discussion include the concept of sustainability in Islamic economy, the non-profit sector and its role in realizing sustainability, Islamic investment tools and sustainable projects, Islamic banks and their impact on enabling sustainability, global models of sustainability projects and initiatives, Islamic economy and sustainability between reality and hope.

Meanwhile, Prince Faisal bin Salman witnessed the signing ceremony of a memorandum of cooperation between Al-Baraka Forum and Prince Muqrin bin Abdulaziz University. The agreement was signed by the university President Dr. Bandar bin Muhammad Hajjar, and the Forum Secretary-General Youssef bin Hassan Khalawi.

The memorandum aims to enhance cooperation between the two sides in the field of Islamic economics. These include the formation, development, dissemination and application of knowledge to enrich the lives of individuals and societies, dealing with contemporary issues related to the fields of Islamic economics and organizing joint scientific activities, providing support in achieving scientific and knowledge programs, as well as preparing printed and electronic publications.

Both sides will organize Madinah Islamic Economics Week every year and this cultural event will be transformed into a global attraction for interested persons and specialists.

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