Research Center for Islamic Economics

What Research Center for Islamic Economics does

Research Center for Islamic Economics (İslam İktisadı Araştırma Merkezi, IKAM) is a non-profit academic research center operating under the İLKE İlim Kültür Eğitim Vakfı (İLKE Foundation) in Üsküdar, İstanbul, Türkiye. Founded in 2013 with its first Islamic Economics Workshop, IKAM is the leading Turkish institution dedicated to Islamic economics and finance, serving academics, graduate/doctoral students, Islamic finance industry professionals (participation banks, takaful, fintech), and policy makers. Its mission is to build the field of Islamic economics in Turkey through research, education, and community convening.

IKAM's core outputs are intellectual and programmatic rather than technological. It maintains the ESCI-indexed Turkish Journal of Islamic Economics (TUJISE), a bibliographic database of 10,000+ Islamic economics records, and a portfolio of research reports (e.g., Economics Monitoring Report 2023, Green Sukuk report, Boycott report, Public Finance Report, and the Türkiye Islamic Economics and Finance Ecosystem Report 2023). Its educational portfolio includes a Specialization Training Program (Islamic Development Economics, Islamic Fintech, Theory/Concept/Methodology), a Basic Islamic Economics Training Program, Applied Zakat Training, and a Business Persons Islamic Economics and Participation Finance Training delivered jointly with İGİAD. Its flagship convening event is the annual Islamic Economics and Finance Summit (formerly the Islamic Economics Workshop, restructured in 2024 into a two-track Academic + Industry format), complemented by the IKAM Talks discussion series and the annual Islamic Economics Awards (Research, Contribution, Thesis, Application categories) since 2018.

IKAM operates as a foundation-funded non-profit; all educational programs are offered free of charge to eligible participants, and revenue is not the primary driver. Its go-to-market is community-led, with distribution via the ikam.org.tr website, partner university venues (Marmara University, Istanbul 29 Mayıs University, Istanbul Sabahattin Zaim University), social media (Twitter/X, LinkedIn, Facebook, YouTube), and direct engagement with the Turkish participation banking sector through the Participation Banks Association of Türkiye (TKBB). Headcount is approximately 7–15 staff, including a small team of directors, researchers, and a coordinator.

Name

Research Center for Islamic Economics

Legal name

İslam İktisadı Araştırma Merkezi (IKAM)

Website

https://ikam.org.tr

Company type

Private

Founded year

2013

Operating status

Operating

Headcount range

1–10 employees

Short description

IKAM is a Turkish non-profit research center under İLKE Foundation that advances Islamic economics through academic research, the TUJISE journal, an annual summit, awards, and free training programs for academics, students, and Islamic finance practitioners.

Ownership category

akta.pro rank

Product category

Academic Research and Education Services

NAICS

Educational Support Services (611710), Business Schools and Computer and Management Training (6114), Professional, Scientific, and Technical Services (541), Religious, Grantmaking, Civic, Professional, and Similar Organizations (813)

SIC

Services-Engineering, Accounting, Research, Management (8700)

akta.pro industry

PRIMARYEDAHAKAI

Islamic Colleges & Sharia/Fiqh Institutes

Education/Higher Education (Colleges & Universities)/Religious & Theological Colleges

SECONDARYFSABAGAJ

Shariah Governance, Compliance & Advisory (Shariah Boards, Audit, Fatwa)

Financial & Insurance/Banking (Commerical, Retail & Consumer)/Islamic Banking

Keywords

• Islamic economics research
• Participation banking studies
• Islamic finance education
• Academic publishing services
• Islamic economics training

Headquarters

HQ city

Istanbul

HQ country

Türkiye

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Research and Education Services: IKAM operates as a non-profit research center under the ILKE Foundation, conducting research, publishing reports and journals, and delivering educational programs and specialized training courses in Islamic economics and finance. Revenue is not the primary driver; the organization functions as an academic and knowledge-sharing institution.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels6 records

Core offering

IKAM is a non-profit research and education institution under the İLKE Foundation that conducts academic research, publishes the TUJISE journal and research reports, and delivers specialized training programs, workshops, and an annual awards program in Islamic economics and finance. Its portfolio includes the annual Islamic Economics and Finance Summit, specialization training courses (Islamic Development Economics, Islamic Fintech, Theory/Concept/Methodology), a bibliographic database, and policy-oriented reports on Turkey's Islamic finance ecosystem.

Product overview

Research Center for Islamic Economics (İKAM) is a research and education institution under the İLKE Foundation. It does not offer a unified software product but rather a portfolio of scholarly programs and publications including: the annual Islamic Economics and Finance Summit (formerly the Islamic Economics Workshop series), the Islamic Economics Awards program, IKAM Talks discussion series, and the Specialization Training Program (offering courses on Islamic Development Economics, Islamic Fintech, and Theory/Concept/Methodology). Its publication portfolio includes research reports such as the Annual Economics Monitoring Report, Green Sukuk report, Boycott report, and country reports on Islamic finance in Central Asia, Russia, and South Africa. Educational offerings also include the Basic Islamic Economics Training Program, Applied Zakat Training, and business-oriented Islamic Economics and Participation Finance Training.

Differentiator

Problem solved

Functional benefit

Products and services

• Islamic Economics and Finance Summit Annual summit (12th edition in 2024) bringing together researchers, academics, and public/private sector professionals to share current studies on Islamic economics and participation finance, featuring both industry sessions with participation banks and takaful companies and academic paper presentations.
• Specialization Training Program Periodic semester-based specialization training program offering courses in Islamic Development Economics, Islamic Fintech, and Theory, Concept and Methodology, with reading groups and assigned reading lists for graduate-level participants.
• Islamic Economics Awards Annual award program honoring innovative and pioneering work in Islamic economics across Research, Contribution, Application, and Thesis categories, presented at the annual summit since 2018.
• IKAM Talks Discussion series (IKAM Konuşmaları) featuring expert speakers on topics such as decentralized insurance and Islamic finance (with Takadao), crowdfunding and Islamic finance (with LaunchGood), and rethinking Islamic economics.
• Basic Islamic Economics Training Program Foundational training program on Islamic economics covering core concepts and principles of Islamic economic thought and participation finance, open to applicants meeting eligibility criteria.
• Applied Zakat Training Practical training program on zakat (Islamic almsgiving) applications and calculations.
• Business Persons Islamic Economics and Participation Finance Training Specialized training program for business professionals on Islamic economics and participation finance, conducted in collaboration with İGİAD (Turkish Entrepreneurship and Business Ethics Association).
• Boycott Report: Financial, Social and Juridical Dimensions Comprehensive research report analyzing boycott movements against Israel's occupation policies in Palestine, examining economic impacts on financial markets, company balance sheets, global trade outcomes, and Islamic jurisprudence evaluation.
• Green Sukuk in Sustainable Development: Importance and Policy Recommendations for Turkey Research report examining how green sukuk can support Turkey's sustainable development goals, reduce energy dependency, and contribute to climate change mitigation, including policy recommendations for regulatory bodies, financial institutions, and investors.
• Economics Monitoring Report 2023: Turkey's Economic Outlook Annual macroeconomic report analyzing Turkey's economic structure, growth trajectory, and policy environment, covering labor markets, inflation dynamics, public finance, and external economic relations with strategic policy recommendations.
• Turkish Journal of Islamic Economics (TUJISE) ESCI-indexed academic journal that disseminates peer-reviewed research in Islamic economics and finance, published by IKAM.
• Islamic Economics Bibliography Database Dedicated bibliographic database (biblio.ikam.org.tr) for Islamic economics literature, maintaining over 10,000 bibliographic records.

Quantifiable outcome

• IKAM has organized 12 consecutive annual Islamic Economics and Finance Summits, with the 2024 summit featuring sector sessions with participation banks, takaful companies, and fintech firms including Albaraka Türk, Kuveyt Türk, Ziraat Katılım, and Vakıf Katılım.
• +2 more outcomes

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Ten partnerships are on record, tiered core, flagship and minor.

• İGİAD (Türkiye İktisadi Girişim ve İş Ahlakı Derneği / Turkish Entrepreneurship and Business Ethics Association)coreStrategic or Co-development PartnerIKAM and İGİAD have partnered on multiple workshops and educational programs. İGİAD served as a co-organizer of the 11th Islamic Economics Workshop (2023) on 'Islamic Economics and Environment' and collaborated on the 'İş Adamları İçin İslam İktisadı ve Katılım Finans Eğitimi' (Islamic Economics and Participation Finance Training for Business People) program completed on April 27, 2024.
• İstanbul 29 Mayıs Üniversitesi (Istanbul 29 Mayıs University)coreStrategic or Co-development PartnerIKAM collaborates with Istanbul 29 Mayıs University, which serves as a co-organizer of major workshops. The university's Economic and Financial Systems Application and Research Center (EFSAM) co-organized the 11th Islamic Economics Workshop (2023). Additionally, IKAM Director Mustafa Afşin Sancar serves as the Head of the Department of Islamic Economics and Finance at the university.
• Marmara Üniversitesi (Marmara University)coreStrategic or Co-development PartnerMarmara University is a key partner, with its Faculty of Theology hosting the 12th Islamic Economics and Finance Summit (2024) at the Prof. Dr. Raşit Küçük Conference Hall. Faculty members participate on IKAM's organizing and advisory committees.
• İstanbul Sabahattin Zaim Üniversitesi (Istanbul Sabahattin Zaim University)coreStrategic or Co-development PartnerIKAM maintains a strong relationship with Istanbul Sabahattin Zaim University, a specialized university in Islamic sciences and economics. University faculty members participate in IKAM workshops and summits, and the university serves as a venue partner for IKAM educational programs.
• Participation Banks Association of Türkiye (TKBB)flagshipStrategic or Co-development PartnerTKBB participates in IKAM's annual summits and industry sessions. The association's representatives moderate and speak at IKAM events, and IKAM serves as a research platform that engages with the participation banking sector including member banks Albaraka Türk, Kuveyt Türk, Ziraat Katılım, and Vakıf Katılım.
• ICIFE (International Council of Islamic Finance Educators)minorStrategic or Co-development PartnerIKAM and ICIFE jointly organized the Workshop on Islamic Economics and Finance Education in Turkey and Malaysia on July 17, 2017, bringing together educators and researchers from both countries to discuss curriculum development in Islamic economics and finance education.
• Albaraka Türk Katılım BankasıcoreOthersAlbaraka Türk participates in IKAM's annual summits as a sector panelist, presenting on topics including Islamic economics and Islamic banking, strategy and transformation.
• Kuveyt Türk Katılım BankasıcoreOthersKuveyt Türk participates in IKAM summits as an industry panelist and contributes to discussions on Islamic finance, renewable energy finance, and takaful topics.
• Ziraat KatılımcoreOthersZiraat Katılım participated in IKAM events as a sector representative, including as a co-organizer of the 11th Islamic Economics Workshop (2023).
• İLEM (İlmi Etüdler Derneği)minorStrategic or Co-development PartnerİLEM has been a partner in IKAM's early workshop series, with representatives participating in organizing committees and academic advisory boards.

Scale indicators4 records

Recent moves7 records

Expansion highlights5 records

Regional players

• Dubai Islamic Economy Development Centre (IEDC): A Dubai government entity promoting the Islamic economy ecosystem. Comparable to IKAM in producing policy reports and convening industry-academia dialogue, but with a UAE governmental mandate and broader scope across all Islamic economy sectors.

Direct peers

• Islamic Research and Training Institute (IRTI): IRTI is the research and training arm of the Islamic Development Bank Group, focused on Islamic economics, finance, and capacity-building research. Comparable to IKAM in producing research reports, training programs, and engaging with Islamic finance institutions, but with broader IsDB membership reach.
• Bahrain Institute of Banking and Finance (BIBF): BIBF is a Bahrain-based professional training institute offering Islamic finance certification and executive education. Comparable to IKAM's training programs in delivering specialization courses and certificate-bearing programs targeted at working Islamic finance professionals.
• International Shariah Research Academy for Islamic Finance (ISRA): ISRA is a Malaysia-based research academy dedicated to Shariah research in Islamic finance and banking. It is the closest international counterpart to IKAM, sharing the mandate of producing high-quality Islamic finance research, policy advisory work, and academic publications for industry and regulators.
• INCEIF University (International Centre for Education in Islamic Finance): INCEIF is a Malaysia-based university specializing entirely in Islamic finance education at graduate level. Comparable to IKAM in delivering graduate-level specialization courses, certification programs, and academic publications for Islamic finance professionals.

Emerging players

• Cambridge Islamic Finance Centre: An academic research center at the University of Cambridge focused on Islamic finance research and education. Comparable to IKAM's academic publishing and training mandate but operates within a Western university setting with stronger international brand recognition.

Broad incumbents

• International Islamic Fiqh Academy: An international Islamic jurisprudence body affiliated with the Organisation of Islamic Cooperation that issues fatwas on contemporary financial and economic issues. Comparable to IKAM in addressing fıqhi dimensions of Islamic finance (e.g., IKAM's Boycott Report) but at the supranational level.
• King Faisal Centre for Research and Islamic Studies: A Saudi Arabia-based research center covering broader Islamic studies, economics, and policy. Comparable to IKAM as an Islamic research institution with publications and events, but with a much wider mandate beyond economics/finance and substantially larger resources.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/ikamorgtr
• YouTubeyoutube.com/c/ilkevakfi
• Facebookfacebook.com/ikamorgtr
• LinkedInlinkedin.com/company/i%CC%87slam-i%CC%87ktisad%C4%B1-ara%C5%9Ft%C4%B1rma-merkezi

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Funding overview

Funding rounds

Investors

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M&A

Investments

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Frequently asked questions about Research Center for Islamic Economics