Islamic economy to drive global growth
Dubai, November 26, 2013
Delegates at an ongoing summit in Dubai exchanged views on industry critical topics, enabling them to further understand the Islamic economy as a new paradigm that will drive global growth for years to come.
The Global Islamic Economy Summit, jointly hosted by Thomson Reuters and the Dubai Chamber of Commerce and Industry, featured debates, lively exchanges and networking opportunities at the Madinat Jumeirah.
It featured a ‘CEOs Debate,’ that sparked dialogue on the concept of Islamic Finance in a session entitled ‘Islamic Finance – Banking on Emotions or Merit?’ led by Tirad Mahmoud, CEO of Abu Dhabi Islamic Bank, with perspectives from top executives.
A series of innovative information solutions that will help further the growth of the Islamic economy were launched, including Amilin TV, a business channel for Islamic markets; Zawya Islamic, an information solution for Islamic finance and Shari’ah-sensitive investors; and the ICD-Thomson Reuters Islamic Finance Development Indicator, a numerical measure representing the overall health and growth of the Islamic finance industry worldwide.
Russell Haworth, managing director, Thomson Reuters, Mena, said: “Industry experts point out that it is the fastest growing segment of the global financial services industry, with growth rates in excess of 20 per cent. It is growing at twice the rate of conventional finance in most markets. But in order to truly flourish as a full-fledged economic paradigm, it needs to be supported by information and analysis.”
A series of parallel sessions took place with the aim to encourage constructive dialogue on topics including Halal and Islamic finance standards, Halal lifestyle and travel, the state of Islamic asset management and investments, as well as entrepreneurship and innovations opportunities in the Islamic Economy sectors.
Dr Sayd Farook, head of Islamic Capital Markets, Thomson Reuters, said: “The summit has proven to be an opportunity to hear from influential thought leaders from across the Islamic economy ranging from financial services, to pharmaceuticals, to food and tourism. The calibre of speakers and participants in attendance was outstanding and the debates and exchanges provided a full overview into the themes that are impacting the global Islamic economy and driving the agenda.” - TradeArabia News Service