Workshop held on 'Islamic Economics in Public Opinion'

Friday, November 17, 2017

The "Islamic Economics in Public Opinion" Workshop, organized by the Research Center for Islamic Economics (IKAM) and the Istanbul University Islamic Economy and Finance Research Center (ISIFAM), was held at the Rectorate Building of Istanbul University. The program started with Dr. Lütfi Sunar's opening speech in which Sunar briefly described the activities of IKAM, stressing the importance of the development of the Islamic Economy. He also mentioned a large number of books which are published by the Iktisat Publications in order to enrich and meet the need in the field of Islamic Economics. ISIFAM President, Mehmet Saraç touched upon the fact that Islamic economics is getting more and more important every day, at the end of his speech, he briefed the works, accomplishments of the Research Center for Islamic Economics.

PARTICIPATION BANKS ARE NOT VERY WELL KNOWN

In the first session of the program, Professor Dr. Fatih Savaşan from Sakarya National Defense University and Assoc. Dr. Fatih Yardımcıoğlu gave a presentation on "Public Awareness and Perception of Islamic Economy and Finance". The presentation included the results of a survey of 2300 people, including 1165 students. According to the survey, 35.1 percent of the population; 48.8 of the students are not aware of the concept of Islamic economy. 20.9 percent of the population; and 33.2 of the students never heard the term of participation banking.

According to the survey, only 17.1 percent of the students and 21.7 percent of the population said yes to question of "Is there any bank in today's Turkey that operates according to Islamic rules?"

As a result of the survey, it was found that the number of those, who think that the rights of the workers will be better and the wages will be higher if the Islamic economy is applied, is under 15 percent among the students and in the population.

Research has revealed that the content and practices of Islamic economics are not sufficiently known to the public, therefore it is emphasized that the public should be informed in an accurate manner.

ISLAMIC ECONOMICS IN MASS MEDIA

In the second half of the program, Assoc. Dr. Necmettin Kizilkaya and Yasemin Meriç gave a presentation about the perception of the Islamic economics in the media. Their presentation included a research analysis of the news and the articles about Islamic economics in particular newspapers and magazines in the last five years.

According to survey Yeni Safak is the top newspaper which made news on Islamic Economics among the others such as; Sabah, Milliyet, Hurriyet and Cumhuriyet newspapers. And the most productive columnist on this topic is Hayrettin Karaman. Between 2012 and 2017, only 9 percent of publications on Islamic economics in these newspapers were written by columnists. A significant portion of the news is about the opening of the branch of a bank or the government officials' statements

PARTICIPATION BANKS DO NOT PRESENT THEMSELVES THROUGH ISLAMIC ECONOMICS

One of the striking results of the research is that the number of news about the Islamic economy is increasing, while the participation banks do not present themselves through Islamic economic concepts. Kuveyt Türk defines itself as "technology, innovation, stable banking, customer trust, innovation, innovative, SME"; Albaraka, "Turkey's first participation bank, participation banking pioneer and leader"; Türkiye Finans "Consumer, customer satisfaction, innovative"; Ziraat Participation uses concepts and expressions such as "sharing, service to country, public power, agriculture sector".

Both studies presented at the workshop will be published by IKAM in the coming days as a report. At the end of the program, a group photo was taken.