The 2nd Istanbul World Islamic Economy Summit was held at the Istanbul Financial Center, bringing together leaders and experts from across the Islamic world.

President Recep Tayyip Erdoğan opened the 2nd Istanbul World Islamic Economy Summit, expressing his pleasure in hosting participants at the crossroads of three continents.

He highlighted Türkiye’s steady economic progress under its two-year reform program, noting that annual inflation has fallen for 11 consecutive months, reaching a 40-month low in April, with the goal of bringing it permanently to single digits. Erdoğan also credited the recent drop in global oil prices for helping reduce inflation and the current account deficit.

The president pointed to other positive signs, including central bank reserves surpassing 153 billion dollars and unemployment falling to 7.9 percent in March, the lowest since 2005.

Addressing the broader Islamic economy, Erdoğan noted that although Muslims represent 25 percent of the world’s population, the 57 member states of the Organization of Islamic Cooperation account for only 11 percent of global trade. With the Islamic finance sector valued at around 2.5 trillion dollars, he urged Muslim countries to deepen trade, investment, and financial cooperation to strengthen their global economic position.

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