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The platform enhances dialogue and exchange of knowledge and ideas among global officials, academics and business leaders
Photo: Wamm
The Abu Dhabi Department of Economic Development (added) has announced that the UAE capital emirate will host the World Islamic Economic Forum in 2024.
The World Islamic Economic Forum (WIEF) – initiated by the WIEF Foundation in 2005 – 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 dialogue and exchange of knowledge and ideas among senior government officials, academics and business leaders around the world.
Additional Chairman Mohamed Ali Al Shorafa and WIEF Foundation Chairman Dr Tan Sri Syed Hamid Albar signed an agreement to host the 14th WIEF Forum from 15 to 17 January 2024 at the Abu Dhabi National Exhibition Centre (Adnec) .
The Abu Dhabi Ministry of Culture and Tourism and Adnec Group attended the signing ceremony.
Abu Dhabi has been selected as the host of the 14th World Islamic Economic Forum, thanks to the joint efforts of different Abu Dhabi entities such as the Adnec Group (providing the host venue) and the Abu Dhabi Ministry of Culture and Tourism, the forum’s destination Partner.
Al Shorafa says:
“We are delighted to host the World Islamic Economic Forum, which fosters international cooperation and promotes sustainable development.”
“Hosting the WIEF reflects our efforts to encourage dialogue among relevant stakeholders to further develop Shariah-compliant economic activity and enhance trade and commerce.”
“In recent years, halal food, Islamic finance, including fintech, have been on the agenda in several parts of the world. Our initiatives and efforts to nurture businesses in various industries provide ample opportunities for key players in these fields, and we encourage Entrepreneurs can benefit from Abu Dhabi’s business support environment to reach their full potential,” he added.
According to the Global Islamic Economy Report 2022, spending in the food, pharmaceuticals, cosmetics, fashion, travel and media/entertainment industries is $2 trillion (2021). The Islamic economic sector (excluding finance) is expected to grow by 9.1% in 2022.
According to S&P Global Ratings, the US$2.2 trillion global Islamic finance industry is expected to grow by 10-12% in 2021-2022 due to increased sukuk issuance and economic recovery in key Islamic finance markets.
Dr. Syed Hamid Albar explained, “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 also 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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