Forum follows chain of events as emirate bids to make itself Islamic banking hub
Dubai: A forum looking at the philosophy behind the Islamic Economy is being hosted at the Dubai World Trade Centre this week by the Dubai government.
The forum follows a chain of events hosted by the government as it seeks to transform the emirate into the capital of Islamic banking.
Malaysia, Turkey and London in the United Kingdom are also bidding to become Islamic economy capitals.
Yesterday, at the Islamic Economy Fiqh Forum — fiqh means jurisprudence in English — speakers debated whether the Islamic economy should be thought of as a science or as part of Sharia. Others argued that the Islamic economy can be trusted because it’s based on morals while also arguing that the global financial crisis in 2007 and 2008 occurred because of bad behaviour.
Another speaker, suggested that the Islamic economy could spur greater economic equality in the world but said this would require sound judgment and community participation. The same speaker argued that the event, three day forum ending tomorrow, was too short to debate the subjects appropriately.