Conference on Islamic economies and finance starts in Istanbul

The ninth international Conference on Islamic Economies and Finance (ICIEF) started on Monday in Istanbul with the participation of Turkish and foreign academics and directors of related institutions. Speaking at the opening session of the conference, "The finance and economy world is going through a critical period and effects of the global financial crisis are still felt," Director General of the Statistical, Economic and Social Research and Training Centre for Islamic Countries (SESRIC) Savas Alpay said. He noted that it was necessary to restructure the international financial architecture and alternative financial systems were required, adding that Islamic finance could be one of such alternatives.