Tue, Nov 15, 2016

Business, Banking & Finance
Al Awar to highlight Islamic finance potential

The Dubai Islamic Economy Development Centre’s (DIEDC) CEO Abdulla Al Awar will deliver a keynote address at the upcoming World Islamic Banking Conference (WIBC) in Bahrain.

Organised by Middle East Global Advisors with the support of the Central Bank of Bahrain, the annual event will be held from December 5 to 7 at the Art Rotana Amwaj Islands.

At the event, which is now in its 23rd edition, Al Awar will offer his insights on the growth and future of the Islamic finance industry in a keynote address on December 7.

Al Awar has been a strong advocate of the contribution of the UAE, particularly Dubai, in the global development of the Islamic economy. 

He has played a key role in promoting economic diversification in the UAE, which aims to increase non-oil’s share of GDP from the current 68.6 per cent to 80 per cent by 2021.

“We notice a growing interest among investors to engage in financing viable projects and support the global march towards sustainability. Islamic finance is increasingly being seen as a shield that can help safeguard the development process from potential crises. As stakeholders of the Islamic economy we need to develop synergies and explore opportunities for responsible and ethical investment that are rapidly opening up,” he says.

“Given this appetite for investing in the Islamic economy sector, and coinciding with the GCC region’s economic diversification into non-oil domains, DIEDC is pleased to participate in this significant event and share key insights on the growth potential and sustainable future that Islamic economy represents for our region and the world at large.”

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