Entitled ‘Changing World, New Relationships’, the 9th WIEF which will be held on 29-31 October 2013 at Excel London, United Kingdom, is the first time the event will meet outside the Muslim world. The forum has previously been held in Malaysia, Kazakhstan, Indonesia, Kuwait and Pakistan. In addition to helping communities in need and supporting big and small companies, entrepreneurs and start-ups, the forum is committed to encapsulate the emergence of new economic linkages between nations across borders, religions and cultures in a fast changing world.
The details of the upcoming event were announced during a pre-event Press conference held in Dubai UAE on Monday.
Former Deputy Prime Minister of Malaysia and now, Chairman of the WIEF, the Hon Tun Musa Hitam, outlined the role of WIEF within the wider Islamic finance community at an exclusive event held in Dubai ahead of the conference which will be held in London on October 29 – 31, 2013.
“The forthcoming 9th World Islamic Economic Forum will be a great opportunity to build bridges towards peace and prosperity between the Muslim and non-Muslim world through the common language of business. The WIEF will showcase the very best that the Islamic world has to offer as a lucrative trade and investment hub,” Chairman of the WIEF, the Hon Tun Musa Hitam, said.
The forum has run since 2004 and has been a strong advocate of Islamic Finance in Muslim and non-Muslim communities around the world with Dubai an increasingly influential driver of Islamic trade and developing Islamic economy.
“Demand for Islamic finance is expected to grow rapidly and more than double in the next four years. Strategically, Dubai is very well placed to capitalise on the huge growth opportunities this creates, and maintain its pioneering status, not just in Islamic finance but in other industries such as tourism, leisure and food. The forum will be an excellent opportunity for key players to build relationships and share best practice,” Ashruff Jamall, Global Islamic Finance Leader at PwC in Dubai, said.
With the United Arab Emirates (UAE) playing a significant role in Islamic economic principles and global businesses seeking high level of interest from Muslim and non-Muslim delegates, the 9th World Islamic Economic Forum (WIEF) sets stage in Dubai ahead of the main conference. The core objective of the forum is to enhance the economic well-being of the people of Muslim nations and Muslim communities worldwide through increasing trade and business opportunities amongst them, as well as the world at large.
The forum will also package the Muslim World as a lucrative trade and investment caucus that is able to attract foreign investors and business partners from various countries worldwide. The meeting will also enable networking and foster strategic alliances through the exchange of ideas, information and knowledge.
Approximately 1,500 government leaders, captains of industries, academic scholars, regional experts, professionals and corporate managers from 100 countries will come together at the Forum to boost trade partnerships between Islamic and European markets. Islamic finance will be an issue of special interest at the 9th WIEF given London’s aspirations of becoming a global hub for this industry. Other key areas which will be covered at the Forum include ‘Women in the Corporate World’, ‘Promoting Transnational Education’ and ‘Developing Global Connectivity through Digital Technology’, among others.
Speakers from the world of politics will include The Mohd Najib Tun Abdul Razak, Prime Minister of Malaysia and Patron, WIEF Foundation; David Cameron MP, Prime Minister of the United Kingdom; HM Sultan Hassanal Bolkiah, Sultan of Brunei Darussalam; Mian Muhammad Nawaz Sharif, Prime Minister of Pakistan, Islamic Republic of Pakistan; HRH Prince Salman bin Hamad Al Khalifa, Crown Prince of Kingdom of Bahrain; Bakir Izetbegovic, Member of Presidency of Bosnia and Herzegovina; Atifete Jahjaga, President of Kosovo; Craig Cannonier, Premier of Bermuda; Tun Abdullah Hj Ahmad Badawi, Former Prime Minister of Malaysia; Boris Johnson, Mayor of London, United Kingdom; Mustapa Mohamed, Minister of International Trade and Industry, Malaysia; Lord Stephen Green, Minister of State for Trade and Investment, United Kingdom; Baroness Warsi, Senior Minister of State, Foreign and Commonwealth Office, United Kingdom; Dr Zeti Akhtar Aziz, Governor, Central Bank of Malaysia; Abdulla Mohammed Saleh, Governor, Dubai International Financial Centre, United Arab Emirates; Hamood Sangour Al Zadjali, The Executive President, Central Bank of Oman, Sultanate of Oman; Greg Clark MP, Financial Secretary to the Treasury, United Kingdom and the Alan Duncan MP, Minister of State for International Development, United Kingdom.
The global Islamic Finance market has grown at 23% Compound Annual Growth Rate (CAGR) to over US$ 1.2 trillion (approximately S$1.5 trillion) and is expected to reach US$2.6 trillion (approximately S$3.3 trillion) by 2017, with the Middle East and North Africa (MENA) region and Asia accounting for a large part of the growth.1 London will seek to extend its role as a western hub for Islamic finance, building on the £22.3 billion (approximately S$43.3 billion) that has been raised to date2, by promoting its status as the leading exporter of financial services across the world.