The second of the Knowledge, Will, Order Speeches was held with Taqi Usmani’s seminar “Redesigning an economy for the benefit of humanity”.

The second event in the Istanbul Forum Talks series took place on Monday, August 5, 2024, featuring a talk titled “Reimagining the Economy for the Benefit of Humanity” by Taqi Usmani, a prominent member of the International Islamic Fiqh Academy and Chairman of the AAOIFI (Accounting and Auditing Organization for Islamic Financial Institutions) Shariah Standards Council. Taqi Usmani covered some of the Islamic principles which should govern an economic system. He argued that an Islamic economic framework is necessary for humanity to address global inequalities. He emphasised that wealth should circulate fairly, as outlined in the Qur’an, and not accumulate in the hands of a few. He criticized modern economic systems, particularly the trade of money for money (interest), which he linked to corruption and exploitation. Usmani concluded that only an interest-free Islamic economic system, grounded in real goods and currency, can resolve the world’s economic issues and prevent collapse.