The World Islamic Economic Forum started off from a modest beginning as the OIC Business Forum, which was held on 15th October 2003, in conjunction with the tenth OIC Summit in Putrajaya, Malaysia. The inaugural OIC Business Forum sought to create a business ‘face’ of the OIC.
The Forum brought together government leaders, captains of industries, academic scholars, regional experts, professionals and corporate managers to discuss opportunities for business partnerships in the Muslim world.
The second OIC Business Forum was convened in Kuala Lumpur in 2004, a momentous event that brought about the birth of the World Islamic Economic Forum and the subsequent convening of the 1st WIEF in Kuala Lumpur in 2005.
This was an important shift that opened up the Forum to include Muslim communities beyond OIC countries and other non-Muslim communities across the globe.
- To enhance the economic well-being of the people of Muslim nations and Muslim communities worldwide through increasing trade and business opportunities amongst them, as well as the world at large.
- To package the Muslim world as a lucrative trade and investment caucus that is able to attract foreign investors and business partners from various countries worldwide.
- To strengthen networking and foster strategic alliances through the exchange of ideas, information and knowledge.
- To promote dialogue and foster cooperation among the Muslim and non-Muslim businessmen in the belief that collaboration is the salient feature of the 21st century international relations. Business partnerships can become genuine bridges towards peace and prosperity between the Muslim and non-Muslim world.