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.