Abu Dhabi – 07 November 2022: The Abu Dhabi Department of Economic Development (ADDED) has announced that the UAE’s Capital will host the World Islamic Economic Forum in 2024.
The World Islamic Economic Forum (WIEF), established in 2005 by the WIEF Foundation, is a global platform created to promote and discuss the latest economic developments and trends while inciting Islamic ethics of peace, fairness, and equality. The Forum strengthens dialogue, exchanging of ideas and knowledge between senior government officials, academics, and business leaders from around the globe.
H.E. Mohamed Ali Al Shorafa, Chairman of ADDED, and The Honourable Tan Sri Dr Syed Hamid Albar, Chairman of WIEF Foundation signed an agreement to host the 14th WIEF Forum at the Abu Dhabi National Exhibition Centre (ADNEC) from 15th to 17th January 2024.
H.E. Mohamed Ali Al Shorafa, Chairman of ADDED, said: “We are delighted to host the World Islamic Economic Forum, which fosters international collaboration and promotes sustainable development. Hosting the WIEF reflects our efforts to foster dialogue between relevant stakeholders to further develop Shariah-compliant economic activities and enhance trade and business.
“In recent years, halal food, Islamic finance, including fintech, have moved up the agenda in several parts of the world. Our initiatives and efforts to nurture businesses across all sectors offer ample opportunities for major players in these sectors, and we encourage entrepreneurs to benefit from the business-supportive environment in Abu Dhabi to reach their full potential” H.E. Al Shorafa added.
According to the Global Islamic Economic Report 2022, there was a spending of US$2 trillion in 2021 across food, pharmaceutical, cosmetics, fashion, travel, and media/recreation sectors 2021 and the Islamic economy sectors, excluding finance, are expected to grow by 9.1% in 2022.
The $2.2 trillion global Islamic finance industry is expected to grow 10%-12% over 2021-2022 due to increased Islamic bond issuance and economic recovery in the main Islamic finance markets, according to S&P Global Ratings.
The Honourable Tan Sri Dr Syed Hamid Albar, Chairman of WIEF Foundation said “Approximately 3000 participants from over 80 countries are expected to attend the forum in Abu Dhabi in 2024. including heads of government, senior officials, opinion and business leaders, experts, and academics. This will also serve as a global platform for experts to exchange ideas and insights about developing a comprehensive and resilient future, as well as improving sustainability and forecasting global business”.
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About World Islamic Economic Forum Foundation (WIEF)
Established in March 2006, the WIEF aims to enhance and elevate the economic situation of communities around the world through encouraging trade and business opportunities and by undertaking various capacity building programmes mainly the annual World Islamic Economic Forum. The platform promotes an inclusive global economy by promoting business cooperation among Muslims and non-Muslim communities. As a Non-Governmental Organisation (NGO) that organises and manages the Forum, we are dedicated to building bridges through business and ultimately promotes stronger cross-border partnerships for the economic well- being of nations worldwide.
The Forum also brings together government leaders, captains of industry, entrepreneurs, corporate executives and academicians from various fields across major economic centres around the world to discuss current issues that affect and shape the future of the commerce industry. The programmes within the Forum consists of panel discussions and master-classes that demonstrate thought leadership on current economic issues.
Aside from the WIEF Forum, we have various other exciting initiatives and activities which offers impactful networking opportunities:
- WIEF Roundtable series (WRT)
- WIEF Education Trust (WET)
- WIEF Businesswomen Network (WBN)
- WIEF Young Leaders Network (WYN)
- WIEF Powertalk (WPT)
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