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13 June, 2015

Hamdan bin Mohammed Directs to Organise Second Edition of 'Global Islamic Economy Summit'

His Excellency Mohammed Al Gergawi, Chairman of the Board, Dubai Islamic Economy Development Centre (DIEDC).

His Excellency Mohammed Al Gergawi, Chairman of the Board, Dubai Islamic Economy Development Centre (DIEDC).

Under the patronage of His Highness Sheikh Mohammed bin Rashid Al MaktoumDubai-UAE:13 June, 2015 - Under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, His Highness Sheikh Hamdan Bin Mohammed, Crown Prince of Dubai, has directed to organise the second edition of Global Islamic Economy Summit (GIES). The summit will

Under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum
Dubai-UAE:13 June, 2015 - Under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, His Highness Sheikh Hamdan Bin Mohammed, Crown Prince of Dubai, has directed to organise the second edition of Global Islamic Economy Summit (GIES). The summit will gather more than 2,000 policymakers, thinkers, and business leaders to build a roadmap around the key pillars of Islamic economy and benefit from sectorial growth and innovations within the global economic system.

The summit will be organised by the Dubai Islamic Economy Development Centre (DIEDC) and Dubai Chamber in partnership with Thomson Reuters from 5-6 October, 2015.

GIES 2015 will build upon the success of the inaugural edition in 2013 with its focus on innovation, growth strategies, and the high uptake of brands and services within the Islamic economy sector. The landmark event will offer insights on a number of pillars of Islamic economy:

  • Islamic Finance: Islamic banking, Islamic asset management, takaful, retakaful, sukuk and capital markets, as well as awqaf

  • Halal Industry: Agriculture, ingredients including pharmaceuticals, cosmetics, manufacturing, retail, logistics, research and product development, food and services

  • Family Tourism: Travel

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  • Islamic Knowledge: University/other education, research, Muslim consumer marketing and research

  • Islamic Arts & Design: Art & design, fashion

  • Islamic Digital Economy: Technology and innovation, VC financing, incubation, media/new media

  • Islamic Standards: Compliance, and standardisation

The summit will highlight successful innovations as well as new opportunities in ethical/impact investment, organic food, modest clothing, family-friendly travel, media, recreation trends and technology solutions. 

Features of GIES 2015 that are expected to generate significant interest include the Isalmic Economy Awards ceremony, an 'Entrepreneurship for Impact' competition jointly organised with Dubai Silicon Oasis Authority, as well as an art exhibition showcasing new Islamic artwork and a concert celebrating Islamic artists.

His Excellency Mohammed Al Gergawi, Chairman of the Board, Dubai Islamic Economy Development Centre (DIEDC), said: "The second edition of the summit will definitely have considerable impact on the trends within the Islamic economy sector, especially in terms of identifying and developing insights across the key segments of Islamic economy. The upcoming summit will aim to showcase some of the world's best practices in this domain, and boost innovation and creative approaches to investment opportunities.  We will utilize the summit to create new opportunities to support our position as pioneers of the Islamic economy in the World"  

Speaking ahead of GIES 2015, His Excellency Hamad Buamim, President and CEO, Dubai Chamber, said: "The second edition of the Global Islamic Economy Summit comes at a time when the emirate has consolidated its global economic leadership by making the Islamic economy an important pillar of its growth. GIES 2015 will convene key decision makers and influencers from the Islamic economy domain to discuss and work together for the future advancement of the sector.

"In line with the UAE's focus on innovation in 2015, Dubai Chamber is committed to strategically support and encourage innovation in the private sector. Our collaboration with the DIEDC towards hosting the Global Islamic Economy Summit articulates this priority."

Nadim Najjar, Managing Director, Middle East and North Africa, Thomson Reuters, said:  "The growing prominence of Islamic economy as a new horizon of opportunities has caught the attention of established corporates, entrepreneurs, and governments worldwide. Thomson Reuters is proud to contribute to this emerging global opportunity. The Global Islamic Economy Summit 2015 is poised to leverage this momentum through offering participants real, tangible insights and connectivity."

The inaugural edition of the Global Islamic Economy Summit in 2013 sparked the world's interest in the emerging Islamic economy sector and led to the launch of a series of start-ups with investors aggressively investing in core Islamic economy segments.

The second edition is being held at a time when the Islamic economy is driven by a consumer base of 1.6 billion Muslims worldwide - a population base that projected to grow at almost double the rate of the world's non-Muslim population and is expected to spend nearly US$3.7 trillion by 2019 in the core sectors of the Islamic economy.

-Ends-

About Dubai Islamic Economy Development Centre
'Dubai Islamic Economy Development Centre (DIEDC) was established in December 2013 to transform Dubai into the 'Capital of Islamic Economy', as envisioned by His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai.

His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, supervises the efforts of the DIEDC and its Board to bolster Dubai's bid to become a global hub for the Islamic Economy, encompassing a wide array of sectors through harnessing the projected US$6.7 trillion Islamic economy market.

DIEDC is equipped with the financial, administrative and legal tools to promote economic activities compatible with Islamic law in Dubai's goods and financial services sector, as well as the non-financial sector. In this capacity, it will conduct research and specialist studies to determine the contribution of sharia-compliant activities to the emirate's gross domestic product, and explore how to extend this contribution to boost the economy. DIEDC is also mandated to create new products and lines of service to law firms specializing in finance structuring."

© Press Release 2015