Thinking Innovative Solutions to
Persistent Development Challenges

22-23 November 2018
Istanbul, Turkey

The current 56 member countries of the OIC are highly diversified in terms of their level of economic development and many of them require substantial amount of resources to finance their development. Due mainly to lack of adequate resources and ineffective use of existing resources, these countries continue to face persistent development challenges. On the other hand, there are also a growing number of OIC member countries that have been active in supporting development in other developing countries, but their role in development assistance is not properly recognized at global levels.

In order to address the development finance challenges, alternative mechanisms are being voiced across the globe. A particularly strong mechanism that becomes increasingly popular is the Islamic finance instruments in financing for development, which can be instrumental for OIC countries in fostering development when effectively utilized.

In this connection, the Symposium aims to identify the opportunities for innovative financing mechanisms, including Islamic finance instruments, as well as effective utilization modalities of existing resources for financing development in developing countries, with a particular focus on OIC member countries. It will also highlight and discuss the growing role of some OIC member countries as development financiers and emerging donors in achieving global development goals.

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Current Challenges of OIC Countries in Financing for Development in a Comparative Perspective

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Measures to Mobilize and Improve the Effective Allocation of Available Resources for Financing National Development Projects

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Alternative Approaches and Instruments for Financing for Development,Including Islamic Finance and Islamic Social Finance Instruments

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Resources and Alternative Approaches for Regional and South-South Cooperation in Financing for Development

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Role of International Resources for Financing Development Including Aid and International Capital Flows

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Measures for Improving Development Aid Effectiveness and Reducing Aid Dependency

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Effective Use of Humanitarian Aids and Development Assistance for Building Resilience

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Best Practices and Success Stories from OIC Countries on Financing for Development

10:30 – 11:00


11:00 – 11:30

Opening remarks by:

Amb. Musa Kulaklıkaya, Director General, SESRIC

Dr. Waleed Abdelwahab, Director General, Country Relations and Services, Islamic Development Bank

11:30 – 12:30

Mr. Rashid Khalikov, Assistant Secretary General for Humanitarian Partnerships, UN OCHA

Dr. Murat Yülek, Istanbul Commerce University

12:30 – 14:00

Lunch Break

14:00 – 15:30

This session will discuss the issues and challenges on how to effectively mobilize and utilize available domestic resources in order to achieve socio-economic development. Main discussion points will include but not limited to:

- The ways, means, and instruments for effectively mobilizing available domestic resources

- Challenges that limit the contribution of domestic resources to achieve socio-economic development

- Issues on measuring and diverting available domestic resources towards financing for development

- Improving the domestic ecosystem for maximising the contribution of domestic resources


Mr. Hayri Maraşlıoğlu, Vice President, Presidency of Republic of Turkey, Presidency of Strategy and Budget

Mr. Habib Rab, Program Leader, World Bank

Dr. Esma Nizam Abdul Samad, Vice President, Investments, Khazanah Nasional Berhad, Malaysia

Mr. Melikşah Utku, General Manager and CEO, Albaraka Türk Participation Bank

Mr. Duncan Bonfield, Executive Director, International Forum of Sovereign Wealth Funds, UK

Dr. Nabil Ghalleb, Chairman and CEO of Zitouna Tamkeen, Tunisia

Country Presentations (Participating countries will be given the opportunity to make 3-5 min presentations / interventions after the panel)

Moderator: Dr. Murat Yülek, Istanbul Commerce University

15:30 – 16:00

Coffee Break and Networking

16:00 – 17:30

This session will provide a platform for scholars to present and discuss their research outcomes and reflections on issues related to financing development. This would include but not limited to:

- Data, measurement and monitoring issues on financing for development

- Country-case studies and new approaches in financing for development such as aid for trade, regional multilateral projects on infrastructure development

- The role of Islamic finance and alternative financing mechanisms in financing for development

- Specific challenges of least developed countries including debt and debt sustainability issues

- Success stories and best practices from developing countries that effectively used domestic resources in their development

Academic Session 1: Finance and Sustainability


Dr. Kabir Hassan, University of South Orleans, USA

Dr. Abdul Waheed, University of Bahrain, Bahrain

Dr. Cem Tintin, SESRIC, Turkey

Dr. Bakare Najimdeen, National University of Sciences and Technology Islamabad, Pakistan

Moderator: Dr. Erhan Türbedar, SESRIC

Academic Session 2: Islamic Finance for Development


Dr. Salina Kassim, International Islamic University Malaysia

Dr. Nosratollah Nafar, Islamic Development Bank, Turkey

Dr. Khalifa Mohammad Ali, Islamic Development Bank, S. Arabia

Moderator: Dr. Mabid Al-Jarhi, ASBU

09:00 – 10:30

This session will discuss the role and potential contributions of international resources for financing development. The session will also look at international flows of resources and their implications on developing countries. Main discussion points will include but not limited to:

- Development impacts of international capital flows on host economies

- Regional development banks and their contributions to development

- Aid flows as a means of financing development and assessing aid effectiveness

- Attracting private capital flows and foreign direct investments

- Indebtedness and debt sustainability

- Policy issues to maximise the contribution of international resources to economic development

Opening Keynote Speech:

Mr. Lütfi Elvan, Former Minister of Development, Turkey

Dr. Mustafa Mastoor, Minister of Economy, Islamic Republic of Afghanistan


Ms. Irena Vojáčková-Sollorano, UN Resident Coordinator and UNDP Resident Representative

Dr. Diana Barrowclough, Senior Economist, UNCTAD

Mr. Wasim Abdulwahab, Director, Islamic Financial Sector Development Department, IsDB

Ms. Cevriye Aysoy, Assistant Director, Central Bank of Turkey

Mr. Recai Biberoğlu, Head of Department for Financial Institutions, Development and Investment Bank of Turkey

Mrs. Maria Francesca Spatolisano, Head of Unit for International Organisations and Development Dialogue, EC – DEVCO

Moderator: Dr. Ahmet Faruk Aysan, Istanbul Şehir University

10:30 – 11:00

Coffee Break and Networking

11:00 – 12:30

This session will discuss how OIC and other developing countries do / can support each other in their efforts to finance development. Discussion points will include but not limited to:

- How OIC countries contribute to the development of other OIC as well as non-OIC developing countries

- Resources and potentials of OIC countries (state wealth funds, development cooperation agencies, Islamic social finance instruments, market size etc.)

- Prospects for intra-regional cooperation in financing development

- Measuring and monitoring flows on financing for development at regional level

- Mechanisms to enhance cooperation of OIC countries with developing countries on financing for development


Mr. Jorge Chediek, Director and Envoy of the Secretary-General on South-South Cooperation (UNOSSC)

Amb. Dato’ Ku Jaafar Ku Shaari, Secretary-General, D-8 Organization for Economic Cooperation (D-8)

Jeyhun Shahverdiyev, Project Director Cooperation Council of Turkic Speaking States (Turkic Council)

Amb. Hüseyin Avni Bıçaklı, Assistant Secretary General, Economic Cooperation Organization (ECO)

Dr. Rahman Nurdun, Special Advisor to the President, Head of Department, Turkish Cooperation and Coordination Agency (TIKA)

Moderator: Dr. Ahmet Tıktık, Istanbul S. Zaim University

12:30 – 14:30

Prayer and Lunch

14:30 – 16:20

This session will discuss the alternative approaches and instruments that are particularly suitable and potentially available for OIC countries in financing development. Main discussion points will include but not limited to:

- Potentials of Islamic financial instruments in financing for development

- Mobilizing Islamic financial instruments across OIC countries

- Role of Sukuk in development financing in OIC countries

- Islamic finance, blended finance and sustainable development

- Islamic financial instruments and south-south cooperation

Regulation and Standards enhancing finance for development


Dr. Bello L. Danbatta, Secretary General, Islamic Financial Services Board (IFSB)

Mr. Ali Taufeeq, Associate Director, Debt Capital Markets, HSBC Bank

Mr. Ammar Radhi, Head of Special Projects for Islamic Finance, Thomson Reuters

Dr. Kabir Hassan, University of South Orleans, USA

Dr. Mehmet Bulut, Rector, Istanbul S. Zaim University, Turkey

Mr. Yahya Aleem-ur-Rehman, Global Lead Islamic Finance Advisory, IsDB

Moderator: Dr. Mabid Al-Jarhi, Ankara Social Sciences University

16:20 – 16:30

Closing session


Hilton Istanbul Bosphorus Hotel

Istanbul, Turkey



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