Erdogan: The capitalist system makes the poor poorer and strengthens the oppressors

In his address at the “Barakah” Islamic finance summit in Istanbul, Turkish President Recep Tayyip Erdogan emphasized the need for a comprehensive and balanced restructuring of the global system, with a focus on current realities. Erdogan stressed the importance of enhancing the role of participatory finance and increasing its share in banking assets to 15% in the near term.

He also highlighted Turkey’s historical role as a commercial and human bridge between East and West, underscoring the need to improve the global system to address current disparities in wealth distribution. Erdogan stated that the current system lacks institutional mechanisms capable of protecting the oppressed and confronting injustice.

Erdogan concluded by calling for unity to create a global system characterized by balance, justice, and inclusivity, emphasizing the need to address the worsening economic and social disparities that threaten global stability.

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