Dubai, UAE: More than 2000 policy makers and business leaders from around the world attended the 2015 Global Islamic Economy Summit in Dubai, earlier this month. Organized by the Dubai Islamic Economy Development Centre (DIEDC), the Dubai Chamber of Commerce and Industry, and Thomson Reuters, the ceremony was opened by Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Emir of Dubai.
Maktoum: “We are keen to shape a better world that is steered by unprecedented standards of progress. The Islamic economy is not merely a tool for producing commodities and growing wealth, it is an incubator of values and ethics that elevate and advance human beings. I don’t believe we need to convince the world any further about the viability of the Islamic economy, since it has simply become an imperative solution for all of us seeking to find lasting solutions to the continuous challenges posed by economic crises”.
The Summit discussed critical issues affecting the Islamic economy, including those related to business and investment opportunities in Islamic finance and insurance, and small to medium sized enterprises (SMEs) among others.
At the Summit, Drs Daan Elffers of the Islamic Reporting Initiative (IRI) presented the first official publication outlining the achievements of the IRI in its first 6 months, to Abdulla Mohammed Al Awar, CEO of the Dubai Islamic Economy Development Center.
Mr Al Awar: “Since the establishment of DIEDC, we have witnessed a growing interest from the international community and private sector bodies such as the Islamic Reporting Initiative in embracing the characteristics of Islamic business practices. We believe such high uptake is testimony to the surging importance that the Islamic economy sectors play in shaping global economic and social development.”
The Islamic Sustainability Reporting Initiative is creating the first mainstream reporting framework for corporate sustainability and social responsibility based on Islamic principles and values. Founded in April 2015, the not-for-profit organization already has members in more than 30 countries. The initiative recently announced the appointment of H.E. Dr Taher Shakhshir, Jordan’s Minister of Environment to its Advisory Board Council.
Image: Abdulla Mohammed Al Awar, CEO, Dubai Islamic Economy Development Center (right) with H.E. Tayeb Al Rais, Secretary General, Awqaf & Minors Affairs Foundation (left) and Drs Daan Elffers, Founder of the IRI, Islamic Reporting Initiative.
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