MADINAH — The 46th session of the Al Baraka Forum for Islamic Economy concluded after six specialized scientific panels held under the theme “Charity and benevolence sector in the Islamic economy: Toward a new future,” bringing together scholars, experts and practitioners from across the globe.In his closing remarks, Secretary-General of the Al Baraka Forum for Islamic Economy Yousef Khalawi said the forum provided a rigorous academic platform for dialogue, reflection and forward-looking discussions. **media[2661839]** He noted that the rich debates revealed broad opportunities for ijtihad, research and innovation within the Islamic economic framework, particularly amid accelerating global economic transformations.Khalawi described the “economy of charity and benevolence” as a potential defining theme for the next phase of Islamic economic development.He explained that while Islamic banking has been the dominant headline of the past 50 years and has firmly established the sector institutionally worldwide, the coming phase could see the rise of a broader charity-driven economic model to enhance developmental and social impact, alongside the continued central role of Islamic banking as the largest and most widely accepted segment of the industry.Khalawi announced that the 47th edition of the forum will focus on Islamic banking under the theme “Human capital in Islamic banks.” Discussions will address the role of Shariah boards, qualification and succession planning, leadership development and the formulation of an ethical charter for professionals in Islamic financial institutions to strengthen governance and reinforce Shariah-based professional values.He commended the scholarly contributions presented during the session, saying this year’s theme opened new research horizons for universities and research centers, enhanced integration between theory and practice, and supported the development of a new generation of specialists in charity and benevolence economics.On the sidelines of the forum, several workshops and seminars were held with strong engagement from participants.Prof. Ilyas Dardour, head of the Shariah and Law Department at Zitouna University in Tunisia, delivered a lecture titled “Financial engineering of endowments: Waqf sukuk and waqf funds — structures, mechanisms and returns,” outlining technical and Shariah frameworks for these tools as modern mechanisms to strengthen the sustainability of endowments.He said waqf sukuk and funds can maximize returns while preserving capital and adhering to Shariah guidelines, in addition to expanding community participation and transforming endowments into effective developmental instruments.In a special session titled “Recording the legacy of pioneers,” Prof. Bashar Muwafaq interviewed Sheikh Muhammad Taqi Usmani, chairman of the Shariah Board of the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI), in a discussion on “My memories with Islamic banking.” Usmani highlighted the importance of combining sound Shariah foundations with contemporary realities and the role of scholars in developing Islamic financial products and contracts.Dr. Iman Shadi, executive secretary of the Strategic Thinking Center, presented a workshop on “Demographic growth and Islamic economic expansion: New horizons,” emphasizing the impact of global Muslim population growth on workforce dynamics and demand for Shariah-compliant products. She underscored the importance of data-driven planning to address challenges in education, employment and healthcare.During the third day, a workshop on “Employing endowments to support charitable and social projects” discussed Shariah concepts and Saudi models of waqf utilization in education, healthcare and community initiatives. Participants noted that Saudi Vision 2030 aims to raise the non-profit sector’s contribution to GDP to 5% by 2030, with endowment assets in the Kingdom estimated at SR430 billion.Another workshop addressed activating Shariah objectives in the charity sector and translating them into institutional tools that enhance social impact and sustainability. Discussions covered governance, strategic planning and contemporary applications to transform the sector into a sustainable developmental driver.Five key themes were examined, including maqasid-based regulations, institutional strategies, practical applications of zakat, waqf and qard hasan, regulatory challenges and modern best practices.A session under the Saleh Kamel Award for Islamic Economy, titled “Bridging research and application,” provided students a platform to present innovative research projects. Organizers highlighted the award’s total value of SR1 million and its role in promoting innovation in Islamic economics.Former Egyptian finance minister and head of the award’s scientific committee Prof. Fayyad Abdel Moneim described the prize as a global academic initiative aimed at advancing the trajectory of Islamic economics.In a workshop on youth empowerment and entrepreneurship, Dr. Wael El-Desouki, secretary-general of the Saleh Kamel Foundation for Sustainable Entrepreneurship, emphasized that corporate success should be measured by social impact as well as profitability, advocating ethical business models that prioritize transparency, responsibility and human dignity.The forum concluded with calls to translate its recommendations into actionable programs and partnerships that enhance the role of the Islamic economy in achieving sustainable development and reinforcing values of justice and social solidarity.