Dubai Chamber unveils specialized unit to support research and studies on Islamic economy

Dubai Chamber of Commerce and Industry has launched during the 10th Islamic Economic Forum in Dubai a new specialized unit to support research and studies on Islamic economy.Announcing the new unit at a press conference on the second day of the Forum today, H.E. Hamad Buamim, President and CEO of Dubai Chamber, commended the participants for their suggestion during the Forum to establish a GCC unified authority for standardizing Sharia-compliant products and services.

H.E. Buamim said the new unit will utilize digital application and platforms and use smart solutions to support the local business community to integrate itself within the Islamic economy system. It will enable a larger group of businesses to benefit from the Islamic economy culture and help transfer knowledge between partners at the local, regional and international levels, H.E. Buamim added.
H.E. Buamim said Dubai Chamber supported the idea of embracing the innovation culture to bring new ideas and solutions with the Islamic economy sector to ensure sustainable development of this sector internationally.

Expressing great satisfaction at the large participation at the 10th WIEF, H.E Buamim said the event has turnout to be remarkably successful from the first day, with more-than-expected participation of over 3,300 delegates from 104 countries.

H.E. Buamim said the success of the Forum is reflected in the high level of satisfaction of the participants at the organization of the event and the value offered by the various sessions, especially since this is the first time the event has been organized in Dubai.Apart from the large number of participants, the 10th WIEF also included 181 speakers in as many as 37 sessions, covering 29 topics on Islamic economy. It also witnessed 150 bilateral meetings and the signing of 12 MoUs, H.E. Buamim said.

The Forum had the distinct participation of nine global leaders, including H.H. Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, as well as the prime ministers of Malaysia, Timor-Leste, Luxembourg, and presidents of Kazakhstan, Bangladesh, vice-president of Seychelles, deputy prime minister of Tajikistan and the president of the Islamic Development Bank. Among other key participants were 12 ministers and four central bank governors.

We are happy at the level of participation at the 10th WIEF, with the delegates coming from all over the world. Global leaders, decision makers and experts have added value to the event by their active involvement in the discussions, offering critical insights on key issues, H.E. Buamim said.
Dubai Chamber has ensured that the 10th WIEF is organized in the best possible manner to match the reputation of Dubai as a dynamic city that hosts global events. We are happy that the WIEF Foundation, co-organizers of the 10th WIEF, has also expressed satisfaction that the event in Dubai has been successful in attracting such a huge participation and has created massive media awareness both at the local as well as international levels, H.E. Buamim added.

Stressing Dubai Chambers commitment to further contribute to Dubais efforts to transform into the global capital of Islamic economy, H.E. Buamim said, Dubai offers a regional platform for leaders and specialists in the local and international economy to come together in events such as the WIEF that help build innovative partnerships at all levels. The WIEF has become a major event for Dubai and it has helped highlight Dubais plans to develop the various components of the Islamic economy as the emirate aims to become the global capital of Islamic economy.
During the first two days of the Forum, participants had the unique opportunity to listen to expert speakers on a variety of topics of current relevance, including role of Sukuk market in financial stability, developing a resilient economic model, managing global risks in business, Islamic finances pivotal role in enabling trade, creating a sustainable network of women entrepreneurs, policies strategies to retain young talents, and sustainable urban planning.

It also included masterclasses on potential of Halal vaccines, tackling water scarcity through cutting-edge technology, and successful zakat management. Besides, the event offered business exchange platforms and networking events. MOCAfest (Marketplace of Creative Arts), the WIEF Foundations arts and culture festival, is also being held on the sidelines of the 10th WIEF.
For more information, visit the 10th WIEF website: www.10thwief.org