UAE prepares first Islamic Economy Summit

WIEFDubai is bracing for the first “Global Islamic Economy Summit” to be held from the 25th to the 26th of November 2013. The summit will be first of its kind in the Islamic World, which has an estimated consumer base of at least $1,6 billion and an economy of $4 trillion. Dubai Chamber of Commerce and Industry is organizing the event in partnership with Thomson Reuters. They said discussions during the summit will be centered on the six major pillars of the Islamic economy.
According to the organizers, the Islamic economy has not attracted critical observations despite its profitability and huge potential growth. Islamic Finance, Halal Food, Halal Lifestyle, Halal Travel, Small and Medium sized Enterprises Development and Islamic Economy Infrastructure will be the focal point of the summit.
Mohammed Abdullah Gergawi, Minister of Cabinet Affairs and Chairman of the Executive Office of Sheikh Mohammed said the summit will showcase “a world of opportunities in the Islamic economy.” He added that Dubai is the best place to do it because of its geographical position and economic role in the Islamic world.
Chairman Abdul Rahman Saif Al Ghurair of Dubai Chambers’ said they will use the summit as an “ideal platform” to develop the halal food industry, trade policies, commercial laws, Islamic tourism among other sectors in order to “begin a constructive dialogue for future growth and development.”
Thomson Reuters Global Head of Islamic Capital Markets, Sayd Farook, stated that Muslim world has an underserved market “especially with regard to Islamic Finance and the Halal food and services sectors.” He opined that they could “be a new engine of growth” for the Muslim and non-Muslim world.

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