Erdoğan's 'interest-free economy' statement! 'We will not give up our struggle'

President and AKP Chairman Recep Tayyip Erdoğan reiterated his longing for a transition to an interest-free economy in his speech at the 2nd Istanbul World Islamic Economy Summit, criticized the Gezi Park protests, stated that the fight against terrorism has cost 2 trillion dollars, and announced that holiday bonus payments of 57.4 billion liras will begin for 16 million retirees.

Erdoğan spoke at the 2nd Istanbul World Islamic Economy Summit held in Istanbul. Addressing the participants at the summit hosted by Istanbul, Erdoğan said, "I am honored to host you in our Istanbul."

While thanking the guests who attended the summit from abroad, Erdoğan commemorated Sheikh Saleh Abdullah Kamel, one of the founders of Islamic finance.

"WE HAVE A LONGING FOR AN INTEREST-FREE ECONOMY"

Reiterating his views on an interest-free economy in his speech, Erdoğan said, "I have expressed that I do not find an interest-based economic system to be correct. However, the opposition stood against us on this issue as well. They could not go beyond the arguments they were taught by rote. As Tayyip Erdoğan, I will continue to voice my longing for an interest-free economy with a loud voice. We will never give up the struggle to change the interest-based economic order."

Stating that he finds the 1 billion dollar sukuk issuance by the Turkey Wealth Fund valuable, Erdoğan also expressed his satisfaction that Halkbank will provide services in the participation finance sector.

"WE ARE VERY CLOSE TO OUR GOAL OF A TURKEY WITHOUT TERRORISM"

Touching upon global developments, Erdoğan said that preparations are being made for new talks in Istanbul regarding the Russia-Ukraine war, and that stability has strengthened in Syria following the "December 8 revolution." Stating that they continue their efforts for a ceasefire and peace in Gaza, Erdoğan made the following remarks regarding Turkey's internal security:

"We are moving forward with firm steps toward our goal of a Turkey without terrorism at home. Aside from our losses over 40 years, each of which is a piece of our soul, we are very close to getting rid of a scourge that has cost our country 2 trillion dollars."

"TURKEY WOULD BE IN A VERY DIFFERENT POSITION"

Touching upon the Gezi Park protests in his speech, Erdoğan said, "If it were not for the Gezi events, which were started under the pretext of moving 3-5 trees, Turkey would be in a very different position today. The chain of attacks against our country, which started with the Gezi uprising and intensified with the July 15 betrayal, continued until recently."

Criticizing the main opposition leader, Erdoğan said, "An attitude that targets national brands and complains about Turkey abroad is sufficient to show what kind of mentality we are facing."

HOLIDAY BONUS ANNOUNCEMENT: 57.4 BILLION TL PAYMENT

At the end of his speech, making an announcement regarding the holiday bonus for retirees, Erdoğan said, "I would like to share the good news with you here that we will start paying our retirees' Eid al-Adha bonuses, which are four thousand liras, starting from tomorrow. Between May 31 and June 4, we will make a total of 57.4 billion liras in bonus payments to approximately 16 million retirees, starting with Bağ-Kur, Emekli Sandığı, and SSK retirees respectively."

The highlights from Erdoğan's statements are as follows:

"I am honored to host you in our Istanbul, at the crossroads of three continents, on the occasion of the 2nd Istanbul World Islamic Economy Summit. I hope that our guests who have come to our city from abroad will experience this ancient city in all its aspects.

I request that you take my greetings to your brothers and sisters in your countries. Today, I commemorate Sheikh Saleh Abdullah Kamel, one of the founders of Islamic finance, with mercy. I also congratulate my brother Abdullah Saleh Kamel here.

As Muslims, we make up 25 percent of the world's population. However, Islamic finance is at the level of 2.5 trillion dollars.

The share of Organization of Islamic Cooperation members in world trade is at the level of 11 percent. As the Islamic world, we must maximize our trade, investment, finance, and cooperation opportunities.

I believe that the discussions held at our summit, which was organized for strategies for the Islamic economy, are very beneficial. Very valuable names will take part in the three-day summit.

I have expressed that I do not find an interest-based economic system to be correct. However, the opposition stood against us on this issue, as they do on almost every subject. They could not go beyond the arguments they were taught by rote, they did not dare to.

As Tayyip Erdoğan, I will continue to voice my longing for an interest-free economy with a loud voice. We will never give up the struggle to change the interest-based economic order. We cannot see interest and an interest-based economic system as legitimate.

The inequalities increasing in the world and the crises of confidence caused by financial crises encourage us and others to develop new models.

Despite all the incentives, we do not find the 8.1 percent rate of participation banking in our country sufficient. Although the 1 billion dollar sukuk issuance by the Turkey Wealth Fund is valuable, there is a significant distance ahead of us. I welcome the fact that Halkbank will serve in the participation finance sector and congratulate them on this strategic decision they have taken.

It is important not to forget that the Islamic economy contains dimensions, principles, tenets, and regulations that go beyond an interest-free economy. We see that the Al Baraka summits, hosted by Istanbul as well as London, play an important role in this respect. Platforms like Al Baraka allow organizations in different geographies of the Islamic world to come together and produce common strategies. I believe that these strategies will serve as a foundation not only for today's needs but also for tomorrow's. I would like to thank the Al Baraka Forum, our Presidential Investment Office, our Turkey Wealth Fund, the Istanbul Financial Center, Halkbank, the Islamic Cooperation Youth Forum, and Ibn Haldun University, who contributed to the organization of the summit.

We are going through a difficult period in the global economy where trade wars are flaring up and geopolitical risks remain high. Problems such as high global debt, aging populations, and climate change are putting pressure on global growth. Due to increasing uncertainties, serious problems have emerged, especially in some sectors. The European Union has only been able to grow by 0.8 percent in the last 2 years.

As Turkey, we are trying to erase the traces of the earthquake disaster, which had an economic cost of 105 billion dollars. The amount of resources we have used for this purpose in the last 2 years has reached 75 billion dollars. We have handed over the keys to 201 thousand houses. By the end of the year, we will have handed over the keys to 252 thousand houses to our earthquake victims.

Despite all the difficulties, thank God, we are doing well. Wounds are being healed rapidly in the earthquake zone. Our neighbor Syria is slowly finding stability with the December 8 revolution after a 13.5-year civil war. We are preparing for talks in Istanbul aimed at ending the Russia-Ukraine war. We are striving for the cessation of oppression and the establishment of a ceasefire in Gaza, where barbarities that hurt our conscience are taking place. We are moving forward with firm steps toward our goal of a Turkey without terrorism at home. Aside from our losses over 40 years, each of which is a piece of our soul, we are very close to getting rid of a scourge that has cost our country 2 trillion dollars. I believe that with a sensible, sincere process, we will reach our destination this time.

If it were not for the Gezi events, which were started under the pretext of moving 3-5 trees, Turkey would be in a very different position today. The chain of attacks against our country, which started with the Gezi uprising and intensified with the July 15 betrayal, continued until recently. The street terrorism and boycott calls displayed following the Istanbul-based corruption and bribery investigation were also a continuation of these attacks.

The irresponsible attitude of the main opposition party chairman, who targets national brands and does not stop there but complains about Turkey abroad, is actually sufficient to show what kind of mentality we are facing.

There is an obsolete mentality in our country that has pinned all its hopes on Turkey stumbling economically and the Turkish economy being harmed. Unfortunately, the actors of this mentality use every opportunity they get to throw stones at Turkey and stab our nation in the back.

By thinking they are doing politics through gossip, they both make themselves look ridiculous and reveal their dirty lines. Even their own voters do not believe they can solve the problems.

I want to remind those whose ambitions have imprisoned their minds: You cannot get anywhere by acting with the understanding of "Let Tayyip Erdoğan lose, even if Turkey sinks if necessary." Especially, you cannot cover up your corruption by diverting the target. Ambitious people who put their own interests ahead of the nation's interests have not been successful until today. I hope they will not succeed from now on either.

We will continue on our path without deviating from our ideal of serving our country, our nation, and all of humanity. As I conclude my words with these thoughts, I would like to share the good news with you here that we will start paying our retirees' Eid al-Adha bonuses, which are four thousand liras, starting from tomorrow.

Between May 31 and June 4, we will make a total of 57.4 billion liras in bonus payments to approximately 16 million retirees, starting with Bağ-Kur, Emekli Sandığı, and SSK retirees respectively. Thus, we will have completed the bonus payments before the holiday."

News Source: 12punto