Turkiye’s Bilal Erdogan Urges Muslim Nations To Emulate Malaysia’s Islamic Finance Lead

Istanbul: Turkiye's Necmeddin Bilal Erdogan has called on Muslim nations to learn from Malaysia's Islamic finance sector to build financial systems that are not dependent on Western networks. According to BERNAMA News Agency, speaking as one of the panellists at the 11th Forum Ilmuwan Malaysia MADANI (FIM), Erdogan said Malaysia's strength in Islamic finance offers a practical blueprint for collaboration. He emphasized that Malaysia is strong in Islamic finance, which other Muslim countries can take lessons from and do collaborative efforts in building those financial systems to reduce reliance on Western financial networks. Erdogan, who is Ibn Haldun University's Board of Trustees deputy chairman, remarked that the Muslim world remains too much bound and scared by the old shadows of Europe and America, and called for renewed self-confidence amid global shifts. He pointed out the declining interest of Western civilisation in promoting values like stability, advancement, peace, freedom, democracy, and libera l values, suggesting that these are upheld only when they serve Western interests. Furthermore, Erdogan advocated for greater institutional ties, especially in education, proposing more student and lecturer exchanges between Malaysia and Turkiye. He highlighted the importance of investing in youth to foster long-term tangible relationships. Meanwhile, Islamic Institute for Development and Research director Sharif Hasan Al-Banna, also a panellist at the forum, urged Muslim nations to strengthen bilateral trade and form an intra-Muslim trade bloc, reducing dependence on external financial systems. He outlined economic integration as a crucial pathway to achieving practical Muslim unity, alongside functional cooperation, intellectual independence, and strategic alliances. The forum, themed 'Muslim Unity in Times of Geopolitical Crisis', was moderated by Prime Minister Datuk Seri Anwar Ibrahim.