TDN World Desk: Post-pndemic world is due to suffer huge economic crisis. Standing in such a critical juncture of time, Turkish President Erdogan Tayyip Erdoğan believes Islamic economic model is the is the key to “getting out of crisis”.

Speaking at the 12th International Conference on Islamic Economics and Finance in Istanbul via video, Erdogan said, “Over-financing has created a bloated economic model, which acts only over concern about unearned income, without considering social and human costs”.

“Contrary to what has been promised, the distribution of income and wealth is gradually deteriorating all over the world, and the gap between the countries widened,” Erdogan said as quoted bt TRT World.

Erdogan further said that death of nearly 440,000 lives worldwide can’t be attributed to COVID-19 alone, deploring the fact that many countries have an economic model that protect only the strong and rich people.

“In some countries, people without health insurance were left to die,” he said.

Indicating the protest of black live matters that eventually erupted after the killing of George Floyd, erdogan said,””In recent days, behind the street events in some western countries, along with racism, there are injustices brought to light by the pandemic.”

During delivering his speech over the Islamic Economics and Finance Erdogan expressed willingness to convert the capital city Istanbul as the heart-land of Islamic economic and finance.

“We aim to make Istanbul centre of Islamic finance and economy,” Erdogan said.