Turkey calls for stock markets to be Islamic shariah compliant
Chairman of Borsa Istanbul Talat Ulussever called on Tuesday for the development of trading in stock markets to be compliant with the Islamic Sharia. Transactions at the stock markets should be Islamic Sharia-compliant not only restricted on issuance of bonds, said Ulussever at the opening of the 1st conference on Islamic Finance. He said policies failed to revive the global economy since 2008, but rather increased burden of debts by more than USD 50 trillion. Ulussever said economic and financial crises were linked to huge debts. He said the Islamic financing should be fully based on Islamic foundations.
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