Abu Dhabi Islamic Bank (ADIB) and Dubai Islamic Bank (DIB) have taken the role of title sponsors for the upcoming Global Islamic Economy Summit (GIES) in Dubai, said event organisers.

In addition, the leading nutrition, health and wellness company, Nestlé Middle East, has signed up as Diamond Sponsor, while Emirates NBD, Qatar First Bank and the Global University of Islamic Finance (INCEIF) have also signed on as Gold Sponsors, according to Thomson Reuters and the Dubai Chamber of Commerce & Industry, the organisers of the event.

Meanwhile, the Dubai Multi Commodities Centre (DMCC), Afridi & Angell Legal Consultants, Société Générale and MasterCard have signed on as Silver Sponsors, while Rolls-Royce is the executive car partner.

GIES is held under the patronage of Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai. While in line with Dubai’s Islamic Economy Strategy announced by Sheikh Mohammed on October 5, the conference also seeks to addresses the challenges and opportunities the industry faces and its contribution to the global economy.

Russell Haworth, managing director - Mena, Thomson Reuters, said: “The calibre of sponsors supporting GIES is testament to the local and international interest in the opportunities that the Islamic Economy presents.

“From leading local, regional and Islamic banks that aspire to become international players, to a European bank that sees a huge opportunity in this sector, to a global food producer, education, consumer credit and legal services providers and the largest free zone in the UAE, our sponsors will be invaluable to the success of GIES.”

Tirad Al Mahmoud, CEO at ADIB said: “At ADIB, we hold an unwavering commitment to playing a role in the development of the Islamic finance industry. We are very excited to be lead supporters for The Global Islamic Economy Summit – an ideal platform to share our core values as an expanding Islamic financial services institution with the wider community in the UAE, region and beyond.”

Dr Adnan Chilwan, chief executive officer of DIB, said: “Being the first Islamic bank in the world, Dubai Islamic Bank is proud to play its role in the Global Islamic Economy Summit. As pioneers of Islamic banking, DIB has been at the forefront of developments in the Islamic financial sector over the past four decades.”

GIES aims to initiate critical dialogue on the development of the integrated sectors of the Islamic Economy, covering Islamic financial services, Halal food, Halal lifestyle, Halal travel, SME development and Islamic Economy Infrastructure such as standardisation and research.

Yves Manghardt, Chairman and CEO Nestle Middle East FZE, commented on the company’s role as a sponsor: “We have been pioneers in providing a wide range of Halal food options for Muslim consumers around the world, and we are delighted to be part of Dubai's initiatives to highlight the importance of the Halal sector as a key component of the Islamic economy and culture.”

The summit will also feature ground-breaking market studies and other announcements such as the winners of the ‘Islamic Economy Award’ which recognises a mix of regional and global leaders from 14 Islamic economy sectors.

GIES will take place on November 25 and 26 at Madinat Jumeirah in Dubai. – TradeArabia News Service