Published On: 27-8-2018

Dubai, UAE – Rapid digitalisation and disruption are changing the dynamics of the global Islamic economy and creating new challenges and opportunities for the sector, according to industry experts who will share their insights at the Global Islamic Economy Summit (GIES) 2018 in Dubai.

The fourth edition of GIES will be held October 30th-31st 2018 in Dubai under the patronage of H.H. Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai. GIES 2018 is expected to welcome an even larger audience of more than 3,000 attendees from around the world.

Organised by Dubai Chamber of Commerce and Industry in partnership with the Dubai Islamic Economy Development Centre (DIEDC) and Thomson Reuters serving as a Strategic Partner, the two-day summit will be held under the theme “A Shared Future” and bring together government officials, policymakers, Islamic finance experts and influential economists to discuss key issues impacting various sectors within the global Islamic economy.

Plenary sessions at GIES 2018 will feature thought-provoking discussions on timely topics such as the impact of blockchain, cryptocurrencies and artificial intelligence on halal industry players, the implications of China’s Belt and Road initiative for Islamic finance and trade with Muslim countries, the evolving role of government in the sharing economy and the future of work in the Muslim world.

A series of parallel panel discussions will tackle a wide range of economic and social issues facing the Muslim world and identify collaborative and solutions and innovative technologies that address such challenges. Industry experts will share their outlook for Islamic fintech and discuss the role of design in driving change in the global Islamic economy, in addition to growing interest in social entrepreneurship among millennials.

Delegates will hear from influential business leaders from around the world who are taking halal industries to new heights by expanding globally and inspiring a new generation of entrepreneurship within the Islamic economy. In addition, participants will get the opportunity take part in a unique session where they will be invited to share their practical ideas related to the global Islamic economy and receive valuable feedback.

For his part, H.E. Majid Saif Al Ghurair, Chairman of Dubai Chamber of Commerce and Industry and Board Member of the Dubai Islamic Economy Development Centre said: “As the global Islamic economy matures and expands, GIES 2018 will provide an ideal platform for stakeholders to identify key factors supporting its growth, share industry insights and join a global conversation about how the sector can maintain sustainable growth in a rapidly-changing world.”

H.E. Al Ghurair noted that the high level of participation in the Global Islamic Economy Summit over the years reflects growing interest and confidence in Dubai as a global capital of the Islamic economy, adding that the fourth edition of the GIES will build on progress which has already been achieved by previous summits.

H.E. Abdulla Mohammed Al Awar, CEO of the Dubai Islamic Economy Development Centre (DIEDC), said that the Global Islamic Economy Summit continues to consolidate its position as one of the most important forums addressing key issues impacting stakeholders within the global Islamic economy. He noted that government officials, business leaders and industry experts participating in the forum play an active role in shaping the discussion about halal industries and ultimately support the Centre’s efforts to strengthen Dubai’s position as the global capital of the Islamic economy.

H.E. Al Awar added that he expects fruitful discussions at GIES 2018 to complement the efforts of the previous three summits, advance the Islamic economy and boost its global influence.

Nadim Najjar, Managing Director, MENA, Thomson Reuters, said: “The Islamic economy now reaches many people and businesses outside of the global Muslim community making it an important force for good in the macro
economy. The summit continues to provide an in depth picture of the sectors contributing to the phenomenal growth of the Islamic economy. This insight will guide entrepreneurs and businesses to better understand the market in different regions and make informed choices and decisions.”

Held in 2016, 3rd edition of the Global Islamic Economy Summit in Dubai attracted the participation of nearly 2,500 dignitaries, officials and business leaders from 74 countries.