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ABU DHABI – The Abu Dhabi Department of Economic Development (ADDED) has announced that the UAE capital will host the World Islamic Economic Forum in 2024.
Launched by the WIEF Foundation in 2005, the World Islamic Economic Forum (WIEF) is a global platform to promote and discuss the latest economic developments and trends, while promoting Islamic ethics of peace, fairness and equality.
The Forum enhances the dialogue, exchange of ideas and knowledge among senior government officials, academics and business leaders around the world.
ADDED Chairman Mohamed Ali Al Shorafa and WIEF Foundation Chairman Dr. Tan Sri Dr Syed Hamid Albar signed an agreement to host the 14th WIEF from 15 to 17 January 2024 at the Abu Dhabi National Exhibition Centre (ADNEC) forum.
The Abu Dhabi Ministry of Culture and Tourism and ADNEC Group attended the signing ceremony.
Abu Dhabi was selected as the host of the 14th World Islamic Economic Forum, thanks to the collaboration between various Abu Dhabi entities such as ADNEC Group, which provided the host venue, and Abu Dhabi, the Forum’s Department of Culture and Tourism Cooperation. destination partner.
The Chair of ADDED said: “We are delighted to host the World Islamic Economic Forum, which fosters international cooperation and promotes sustainable development. Hosting WIEF reflects our efforts to encourage dialogue among relevant stakeholders to further develop Shariah-compliant economic activity and enhance trade and commerce.
“Halal food, Islamic finance, including fintech, have been on the agenda in several parts of the world in recent years. Our initiatives and efforts to nurture businesses across all industries provide ample opportunities for key players in these industries , we encourage entrepreneurs to benefit from Abu Dhabi’s business support environment to reach their full potential,” added Al Shorafa.
According to the Global Islamic Economy Report 2022, spending in the food, pharmaceuticals, cosmetics, fashion, travel and media/entertainment industries will be $2 trillion in 2021, and the Islamic economy sector (excluding finance) is expected to grow by 2022 in 2022 9.1%.
According to S&P Global Ratings, the $2.2 trillion global Islamic finance industry is expected to grow by 10%-12% between 2021 and 2022 due to increased sukuk issuance and economic recovery in key Islamic finance markets.
The Chairman of the WIEF Foundation said: “Around 3,000 participants from over 80 countries are expected to attend the forum in Abu Dhabi in 2024, including heads of government, senior officials, opinion and business leaders, experts and academics. It will serve as a global platform for experts to exchange ideas and insights on developing a holistic and resilient future as well as improving sustainability and forecasting global business.”
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