World Islamic Economic Forum Promotes Discourse on Financial Inclusion


Jul  24th

Key industry players gather in Phnom Penh, Cambodia discussing the impacts, challenges, and potentials of Islamic microfinance

PHNOM PENH, 24 July 2017 – Following the recent launch of the 13th World Islamic Economic Forum (WIEF) with the theme, Disruptive Change: Impact and Challenges – WIEF in-collaboration with the International Center for Education in Islamic Finance, Malaysia (INCEIF) and the government of Cambodia organised a two-day workshop, entitled “Workshop on Financial Inclusion: Case Study of Islamic Microfinance” in Phnom Penh, Cambodia.

The objective of the workshop is to provide the participants with better perspectives and insights on prospects within the Islamic financial industry in steering the ecosystem towards achieving better financial inclusion via Islamic microfinance within ASEAN. This will be further driven by participation from 10 industry experts from 9 countries who have deep understanding on the topic of Islamic microfinance.

Tan Sri Dr. Wan Mohd Zahid Bin Mohd Noordin, Chairman, WIEF Education Trust & Chairman, Board Of Advisors, Higher Education Leadership Academy delivering the opening speech.

“ASEAN has the demographics and potential for Islamic finance to prosper because of the strong support from the various governments. With such potential, we at WIEF believe that in the time of disruptive change, innovation for Islamic financial services and products are at its prime”, said Tan Sri Dr Wan Zahid, Chairman of WIEF Education Trust.

“The topic of Islamic finance is one of the main topics which will be discussed in the main forum in Kuching this year. Islamic finance sector is embracing the disruption and will continuously redefining the economy and social wellbeing”, added Tan Sri Dr Wan Zahid.

“More than 60% of the world’s Muslim population reside in ASEAN. It is high time that we work on a more sustainable module to support the mid-to-lower income segment for better financial inclusion in the overall economic dynamics”, said Professor Datuk Dr Syed Othman, Deputy President Academic, INCEIF, Malaysia at the workshop. 

Press briefing with Tan Sri Dr. Wan Mohd Zahid Bin Mohd Noordin, WIEF Education Trust, Professor Datuk Dr. Syed Othman Alhabshi, INCEIF, H.E. Osman Hassan, Secretary of State at the Ministry of Labor and Vocational Training and President of Cambodian Muslim Development Foundation, H.E. Mey Vann, Director General of Financial Industry representing HE Dr Aun Pornmoniroth, Senior Minister of Economy and Finance, Cambodia

Via this workshop, WIEF is also providing a platform for Cambodia authority to explore Islamic microfinance as a feasible solution with significant returns when it comes to engaging and activating the community towards contributing to the economy. This is in-line with WIEF’s intention to elevate its purpose towards being a platform for value-neutral discourse and a vital instrument for multilateral diplomacy between advanced and rising economies.

The 13th WIEF which will be held in Kuching, Sarawak from 21 – 23 November 2017, will focus on the impact and challenges of the disruptive change forces, opening up conversations between nations, driving common business agendas forward and bringing true value and impact to communities across the globe.

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About the World Islamic Economic Forum (WIEF) Foundation

The WIEF Foundation, a not-for-profit organisation based in Kuala Lumpur, organises the annual World Islamic Economic Forum, a world-class business platform showcasing business opportunities in the Muslim world, and runs programmes of the various initiatives of the Foundation that strengthen people partnership and knowledge exchange between Muslim and non-Muslim communities across the globe.

The WIEF has previously held forums in Malaysia, Kazakhstan, Indonesia, Kuwait, Pakistan, the United Kingdom and United Arab Emirates and aims to bring together Muslim and non-Muslim communities through the common language of business.

The 13th World Islamic Economic Forum is going to be held at Borneo Convention Centre, Kuching, Sarawak, Malaysia from 21 – 23 November 2017.


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