The upcoming Global Islamic Investment Gateway (GIIG) in Manama will help consolidate Bahrain's standing as a leading innovator in Islamic finance always open to exploring new ideas, according to Economic Development Board (EDB) chief economist Dr Jarmo Kotilaine.

With more than 700 delegates now confirmed, the event will unveil a new online tracker, which will connect investment capital from the GCC with fast-expanding markets in OIC countries across the world, said a report in the Gulf Daily News (GDN), our sister publication.

The new Investment Monitor has already been the catalyst for creating a pipeline of around 100 potential new deals.

“The global investment portal is yet another example of new thinking on Islamic finance and it is appropriate that it is being launched in Bahrain, which has been at the forefront of innovation in Islamic finance for decades,” said Dr Kotilaine.

“Bahrain is the longest established hub for Islamic finance and we are proud to welcome this pioneering event.”

The conference, which is being held at the Gulf Hotel next Monday and Tuesday, is set to bring together some of the largest investors in the region to examine potential opportunities within OIC markets - a group of economies that is expected to see annual growth at an average rate of 5.4 per cent in the next five years, significantly higher than the global average.

“We know that from the strong growth figures in these markets that there are significant opportunities in a range of areas,” Dr Kotilaine said.

“However, we also know that for many investors, the challenge will be in finding ways to access these markets, many of which will be relatively early in their development.

“The conference will launch the Investment Monitor which is an innovative way to link viable projects that need investment with senior level investors who have significant capital looking for opportunities that are at an advanced stage.”

The Global Islamic Investment Gateway is being organised by EDB, Thomson Reuters, and the Islamic Development Bank. Around 50 c-suite level speakers are confirmed for main sessions and panels over the two days. - TradeArabia News Service