I
PREFACE
The Standing Committee for Economic and Commercial Cooperation of the Organization of the
Islamic Cooperation (COMCEC) Financial Outlook is a contribution of the COMCEC
Coordination Office to enrich the discussions during the Finance Working Group Meetings
being held twice a year. Finance Working Group is established as part of the implementation of
the COMCEC Strategy. For developing a common language/understanding, and approximating
policies in financial cooperation to address and find solutions to the financial challenges of the
OIC Member Countries, the COMCEC Strategy envisages Financial Cooperation Working Group
as one of the implementation instruments of the Strategy. In this respect, Finance Working
Group Meetings aim to provide a regular platform for the member countries’ experts to
elaborate thoroughly financial cooperation issues and share their best practices and
experiences.
COMCEC Financial Outlook 2015 is prepared by Alper BAKDUR (Chapters 1, 2 and 3) and Okan
POLAT (Chapters 4 and 5), with the objective of presenting a general outlook of the financial
system of the OIC Member States, highlighting the potential areas for cooperation in this sector
and as well as evaluating the recent developments in the global financial structure.
Views and opinions expressed in the report are solely those of the author(s) and do not
represent the official views of the COMCEC Coordination Office or the Member States of the
Organization of Islamic Cooperation. Excerpts from the report can be made as long as
references are provided. All intellectual and industrial property rights for the report belong to
the COMCEC Coordination Office. This report is for individual use and it shall not be used for
commercial purposes. Except for purposes of individual use, this report shall not be
reproduced in any form or by any means, electronic or mechanical, including printing,
photocopying, CD recording, or by any physical or electronic reproduction system, or
translated and provided to the access of any subscriber through electronic means for
commercial purposes without the permission of the COMCEC Coordination Office.