Global Islamic Economy Summit 2015 convenes in Dubai

DUBAI, UNITED ARAB EMIRATES, October 5, 2015 – His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai inaugurated the second edition of the Global Islamic Economy Summit (GIES) in Dubai today. Over 2000 policymakers, thinkers and business leaders gathered to take part in the two-day summit hosted by the Dubai Chamber, the Dubai Islamic Economy Development Centre (DIEDC), and Thomson Reuters.

In efforts to continue facilitating the growth and development of the Islamic Economy, His Highness Sheikh Mohammed officially inaugurated ‘Salaam Gateway,’ the first and only online platform for all Islamic economy-related industry intelligence, news, information, and data. Insights and intelligence, in both Arabic and English, are provided by Islamic economy experts, analysts, and industry and thought leaders. The platform was designed by DIEDC and Thomson Reuters as a business-to-business tool for the increasingly Shariah-sensitive Muslim professional, providing a comprehensive knowledge resource on all sectors of the Islamic economy. It is also the repository of an extensive database of Islamic Economy companies from across the globe.

Following on from the past edition of the Summit and last year’s roundtables, the Islamic

Sheikh Mohammad with Leonard Ariff Abdul Shater, CEO, CCM Duopharma Biotech Berhad
Sheikh Mohammad with Leonard Ariff Abdul Shatar, CEO, Chemical Company of Malaysia Berhad

Economy Awards, under the guidance of His Highness Sheikh Hamdan Bin Mohammed bin Rashid Al Maktoum, took centre stage at the Summit today. The awards, presented by His Highness Sheikh Mohammed bin Rashid Al Maktoum, recognise initiatives and ideas pertaining to eight key categories that have served to enhance bilateral trade and investment relations between Islamic nations.

The winners of the Islamic Economy Awards were:

Dubai International Financial Centre for Money & Finance;

Chemical Company of Malaysia Berhad for Food & Health;

Unity Productions Foundation for Media;

Hajjnet for Hospitality & Tourism;

Center for Zakat Management for Waqf & Endowments;

Affinis Labs for SME Development;

Amanie Advisors LLC for Islamic Economy Knowledge Infrastructure;

Gould for Islamic Arts.

Additionally, the ‘Lifetime Achievement Award’ was presented to Iqbal Khan, founder and CEO of Fajr Capital, for outstanding contributions to the Islamic economy.

H.E. Majid Saif Al Ghurair, Chairman of Dubai Chamber of Commerce and Industry, opened the awards ceremony with a keynote speech. He highlighted that the Global Islamic Economy Summit reflects the emirate’s concerted efforts in turning Dubai into a global Capital of Islamic Economy while providing an ideal platform for networking and exchange of experiences in encompassing a broader consumer base, standardization and identification of core challenges affecting the various segments of the Islamic economy.

H.E. Al Ghurair pointed out that the Islamic economy is a way of life experienced by over 1.6 billion Muslims around the world and its model cuts across all aspects of economic and social lifestyle of individuals and communities. This model has proved its excellence during the global financial crisis, making it a perfect choice for Muslims and non-Muslims alike.

His Excellency Sami Al Qamzi, Director General of the Department of Economic Development, Dubai, and Deputy CEO of DIEDC, said in a speech, “Dubai has moved in just a few years from a research and preparation phase to one of global engagement with the Islamic economy, represented by its numerous ethically-based sectors. From Halal products to Islamic banking and finance, this economy now represents a number of sectors that are receiving worldwide recognition and increasing demand.

“This rapid growth in the Islamic economy, both quantitatively and qualitatively, is evidence of a wise vision, precise timing, and a scientific approach. There is undoubtedly a great deal of work and effort remaining ahead of us, which we will approach with faith, knowledge and determination, guided by the experience we have acquired over the past few years.”

His Excellency Al Qamzi added, “Today, we look forward to global standards for Islamic products and services, and the provision of a stable and effective framework for the Islamic economy governed by appropriate legislative and regulatory organisations, and supported by studies, research, scientific knowledge and innovation. This pace of development will help meet the constantly evolving needs of markets, allowing this initiative to become a truly independent economy in and of itself, rather than merely being a subset of the broader global economy.”

IEP-logoSalaam – The Global Islamic Economy Gateway can be accessed from and constitutes of seven pillar sites. Salaam Gateway users will be able to navigate easily from one pillar to another, and view an Arabic version of the digital portal. The seven pillars covered include Food; Fashion, Art and Design; Media and Recreation; Islamic Finance, Pharmaceuticals and Cosmetics; Travel and the Digital Economy.