Tag: Currency

Islamic countries should step up efforts to ease currency pressure, urges Turkish President Erdogan Istanbul/Ankara: The future will see the world’s interest-based economic system replaced by participation based on risk-sharing, the Turkish president said on Wednesday. "In this case, it is important to expand the use of products such as sukuk to finance large long-term infrastructure investments," Recep Tayyip Erdogan told a virtual meeting of the Organization of Islamic Cooperation's (OIC) Standing Committee for Economic and Commercial Cooperation (COMCEC). A sukuk is an Islamic financial certificate, similar to a bond in...