Kuala Lumpur – April 28, 2025
AlBaraka Forum for Islamic Economy held a special reception in Kuala Lumpur – Malaysia, attended by more than 30 senior figures from the Islamic banking and finance sector. The event brought together CEOs, board chairpersons, heads of Shariah boards, and a distinguished group of experts and professionals.
In his opening remarks, His Excellency Secretary-General Mr. Yousef Hassan Khalawi stated that this event is part of a series of exhibitions and receptions the Forum plans to organize in major cities that serve as global hubs for Islamic finance. He described this event as a pilot model to test engagement and interaction with Islamic economic institutions and to strengthen professional networking opportunities.
He highlighted the unique qualities of these global centers—some of which are research hubs, while others are commercial powerhouses. He praised Kuala Lumpur for blending academic and commercial excellence, making it an ideal location for such annual events.
Mr. Khalawi noted that the development of Islamic finance should go beyond traditional models and include technological innovation and social finance tools like zakat and waqf, announcing that the upcoming AlBaraka Symposium in February, will focus specifically on the social economy.
One of the Forum’s main goals, he emphasized, is to create consistent spaces for professional dialogue. Hence, the Forum aims to make Kuala Lumpur a permanent hub for receptions and discussions among key industry players. He added, “We want executives from around the world to come here and find in Kuala Lumpur a unified platform, instead of each party hosting separate events.”
He clarified that the AlBaraka Forum is an independent, non-profit think tank that does not represent any political or commercial entity. Its primary aim is to elevate the global standing of Islamic economics, rather than promoting a single sector like banking or finance.
Mr. Khalawi pointed out that there are fewer than five global institutions dedicated to this field, and even fewer non-profit organizations, highlighting the importance of the Forum’s role on the global stage.
He reviewed the Forum’s historical path, noting its evolution from the AlBaraka Symposium, which began in 1981 and is considered the longest-running Islamic economics event. Its 46th edition will be held next year.
He also discussed the series of annual summits the Forum organizes in Madinah, Istanbul, and London. The upcoming London summit in November will focus on Islamic economics in non-Muslim countries. Additionally, the Forum hosts two regional events annually in Karachi and Egypt—two of the most promising markets, especially in financial inclusion, zakat, and waqf.
Mr. Khalawi emphasized that the Forum goes beyond academic conferences; it invests in building experiences, developing knowledge, and expanding the global presence of Islamic economics. He mentioned a comprehensive global report on the performance of Islamic banks, spanning over 450 pages, set to be released in Q3 of this year to mark 50 years since the inception of Islamic banking.
He also highlighted key strategic initiatives the Forum is working on, including the Islamic Economy Award for researchers under 45, which grants four annual awards worth SAR 250,000 each. He announced a new Islamic economy database currently being tested and expected to launch officially next year.
He concluded by thanking the esteemed attendees, affirming the Forum’s ambition to expand its global footprint through more high-quality events in Malaysia and other capitals. He invited participants to attend the upcoming summit in Istanbul on May 30 and the London summit in November.
He closed by saying, “Inshallah, we aspire to see Kuala Lumpur become a true annual platform that brings together decision-makers in Islamic economics from all around the world.”
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