MADINAH — Prince Salman bin Sultan, Emir of the Madinah region, on Monday inaugurated the 46th session of the AlBaraka Forum for Islamic Economy, held under the theme “The philanthropy and benevolence sector in the Islamic economy: Toward a new future,” at Prince Muqrin bin Abdulaziz University.Abdullah Saleh Kamel, chairman of the board of trustees of the AlBaraka Forum for Islamic Economy, said the philanthropy and benevolence sector represents the largest component of the Islamic economic system and should be viewed as a core economic pillar rather than a supplementary charitable activity. **media[2660381]** In his remarks, Kamel said the selection of this year’s theme reflects a forward-looking vision for the future of the Islamic economy and draws inspiration from Madinah, where foundational principles of Islamic economic thought, including endowments, spending, and benevolence, were first established.He noted that the AlBaraka Forum has played a key role over more than four decades in developing modern Islamic economic tools, particularly Islamic banking.He added that the next phase requires integrated approaches encompassing philanthropy-based economics, effective capital deployment, and adherence to ethical values as a fundamental economic foundation.Kamel explained that these three pillars, alongside established instruments such as sukuk and takaful insurance, and the optimal use of modern financial technologies, form the basis for building a sustainable and impactful Islamic economy.He also stressed the importance of empowering the non-profit sector, highlighting Saudi Arabia’s experience as a national model with global relevance in advancing sustainable development and maximizing social impact.Tunisian Grand Mufti Sheikh Hisham bin Mahmoud also addressed the forum, saying that hosting the event in the Prophet’s City reflects the principles of benevolence, solidarity, and social cohesion upon which Islam was founded. He cited the historic cooperation between the Muhajireen and Ansar as a lasting example of Islamic economic and humanitarian values.Sheikh Hisham praised Saudi Arabia’s leadership, under the Custodian of the Two Holy Mosques and Crown Prince Mohammed bin Salman, for supporting charitable and development initiatives and promoting the principles of compassion and solidarity.He also commended the role of AlBaraka Group and AlBaraka Bank in Tunisia as a model combining Islamic banking with jurisprudential vision and social responsibility.The event included the screening of a documentary titled “The Economy of Philanthropy and Benevolence: Giving that Creates Impact,” which traced the historical roots of charitable economics in Islam, from the first endowment in Madinah to the modern transformation of the non-profit sector into a key development driver. The presentation highlighted Saudi Arabia’s efforts to institutionalize the non-profit sector under Vision 2030.During the ceremony, Prince Salman bin Sultan also oversaw the signing of three memoranda of understanding.The agreements were concluded between the AlBaraka Forum and the Islamic University of Madinah, INCEIF University, and King Abdulaziz University’s Institute of Islamic Economics, aiming to enhance academic cooperation, research integration, and knowledge exchange.