This is the flag of the New Turkish Caliphate, a sovereign state in the Middle East and Central Asia. Red, green, black and white, the pan-Islamic colors, represent different things in this context, with green representing Islam, white representing the fulfillment of the dream of a new Turkish-led Caliphate, red representing courage and military strength, and black representing the Turkic people's. The eight-pointed figure in the middle is the Rub el Hizb, an Islamic symbol, and the star and crescent represents Islam and the first Turkish Caliphate, the Ottoman Empire.
The Turks aren't really all that high on the presence of the word "Islamic" in their country's title. That's something only the Arabians do. And that's because the Turks, from what I can recall, have really high national pride.