Abu Dhabi to Host World Islamic Economic Forum in 2024

EKISPEDIA.COM - Abu Dhabi will host the World Islamic Economic Forum in 2024, the emirate’s Department of Economic Development (ADDED) announced on Wednesday.

The forum is slated to be held on January 15-17, 2024.

An agreement on this was signed by Mohamed Ali Al Shorafa, Chairman of ADDED, and Tan Sri Dr. Syed Hamid Albar, Chairman of the World Islamic Economic Forum (WIFE) Foundation.

Hamid Albar said about 3000 participants from over 80 countries were expected to attend the forum in Abu Dhabi in 2024, including heads of governments, 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,” he said.

The WIFE, launched in 2005 by the foundation, is a global platform created to promote and discuss the latest economic developments and trends, in conformity with 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.

Abu Dhabi has been selected to host the 14th edition of the World Islamic Economic Forum, thanks to the collaborative efforts between different Abu Dhabi entities such as ADNEC Group who are providing the hosting venue and the Department of Culture and Tourism – Abu Dhabi, the forum’s destination partner.

Al Shorafa said hosting the WIEF reflected the department’s efforts to encourage 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,” Al Shorafa added.

According to the Global Islamic Economic Report 2022, as much as $2 trillion was spent in 2021 across food, pharmaceutical, cosmetics, fashion, travel, and media and recreation sectors.

The Islamic economy sectors, excluding finance, are expected to grow by 9.1 percent in 2022, the report said.

The growth is mainly on account of increased Islamic bond issuance and economic recovery in the main Islamic finance markets, according to S&P Global Ratings.

Source: arabianbusiness.com