Islamic Economy Summit in Dubai to discuss innovation

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The third Global Islamic Economy Summit (GIES) will be held on October 11 and 12 in Dubai to discuss the developments taking place on the Islamic economy front, the Emirates News Agency WAM reported.

With the theme ‘Inspiring change’ and endorsed by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, the summit is organised by the Dubai Chamber of Commerce and Industry and the Dubai Islamic Economy Development Centre, with Thomson Reuters as a Strategic Partner.

The summit seeks to cement Dubai’s position as a capital of the Islamic economy and to provide an integrated platform for decision-makers and specialists to discuss key issues and major trends in the Islamic economy in the region and the world.

This year’s event will include six plenary sessions covering topics such as the global dynamics shaping the Islamic economy as well as more specific subjects such as Islamic finance and sukuk. In addition to that, the summit will host parallel sessions to discuss Islamic economic sectors from ‘halal’ (allowed in Islam) products and modest fashion to family tourism and Islamic art. These sessions aim to find practical and sustainable solutions for the challenges that the Islamic economy faces.

Influential leaders

Majid Saif Al Ghurair, Chairman of Dubai Chamber and Board Member of the Dubai Islamic Economy Development Centre, said, “The fact that influential leaders, decision-makers and experts in key economic sectors have all converged on Dubai for the Global Islamic Economy Summit only goes to prove the emirate’s position as a true capital for the Islamic economy. It reflects the tremendous efforts exerted by Dubai to shed light on the concepts and mechanisms of the Islamic economy. The summit’s main topics are broad and comprehensive and, thus, allow for an open discussion about the components of the Islamic economy, all the while shedding light on innovative solutions to confront the challenges that face the global economy today and achieve sustainable development.”

Abdulla Mohammed Al Awar, Chief Executive Officer of Dubai Islamic Economy Development Centre, said, “This year’s summit tackles themes and strategic issues that are relevant to both local and international stakeholders and, therefore, call for in-depth discussions to map out a clear future for the global economy – not just the Islamic domain.

“Given the fact that each sector of the Islamic economy offers incredible potential to impact the overall economic culture, GIES 2016 will help further clarify its many nuances. We are confident that a renewed understanding of the sector will greatly benefit all segments of society, particularly the youth, to help them apply the knowledge gained for achieving sustainable social and economic development. We believe that with greater clarity comes greater appreciation – inspiring people to adopt moral principles that makes this responsible economic model unique in all respects,” he added.

Nadim Najjar, Managing Director, MENA, Thomson Reuters, said, “The current global economic climate and the search for new underserved markets have brought a fresh spotlight onto the various sectors of the Islamic economy. The convergence of the Shariah-compliant industries is likely to be a new engine of growth that engages both the Muslim and non-Muslim economies across the world.”

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