This year, TUMSIAD will host Conference on “Leveraging Islamic Finance for SMEs” that is jointly organized with The World Bank, Islamic Development Bank, and Republic of Turkey Prime Ministry Undersecretariat of Treasury under the scope of Turkey`s G20 Presidency for 2015. The event will serve as a platform for international development institutions, policymakers, private sector stakeholders as well as academicians to exchange ideas and generate stimulating discussion to unveil the opportunities that Islamic finance could provide to SMEs to enhance their access to finance and supporting their presence within the financial system.
As essential driver of job creation, entrepreneurship, and inclusive economic growth worldwide, Small and Medium-sized Enterprises (SMEs) are considered as an engine for growth through innovation and value creation. This potential of SMEs has also been acknowledged by various international organizations and platforms such as the World Bank, OECD, and World Economic Forum. In addition, the key themes of G20 agenda under Turkish Presidency, i.e. long-term investment financing, financial intermediation, and inclusiveness are duly related with the development of SME sector in all aspects.
Islamic Finance has been experiencing significant growth in global financial markets especially after the global credit crisis and due to its asset-backed and risk-sharing finance features, provides attractive opportunities for SMEs for accessing finance in both developed and developing countries. The organizers believe that the discussion of how to leverage the potential of Islamic finance to create an enabling environment for SMEs in accessing finance will uncover significant opportunities and challenges leading to important policy formulations.
As one of the main SME Associations of Turkey with over 10 thousand members, it is an honor for TUMSIAD to host International SME Conference 2015 with the participation and opening addresses by H.E. Mr. Recep Tayyip Erdoğan; President of Turkish Republic, Mr. Bertrand Badre; Managing Director and Group Chief Financial Officer of the World Bank, and H.E Dr. Ahmad Mohammad Ali; President of Islamic Development Bank.