Attended by heads of state and government .. Qatar will host the World Islamic Economic Forum next year

Mohammed Al-Shayazami-Doha

Doha will host next October the works of the 14th session of the World Islamic Economic Forum under the slogan "Economic Resilience: Inclusive Growth", according to an agreement between the Ministry of Trade and Industry in Qatar and the World Islamic Economic Forum.

The forum is expected to attract about 2500 personalities from more than 80 countries, including heads of state and government, opinion leaders, experts, businessmen and managers of global financial groups, and is expected to serve as a global platform for experts to exchange ideas and opinions on promoting growth for a comprehensive and flexible future and to draw a global business landscape More sustainable and forward looking.

During a press conference held Thursday, a review of the most important axes to be discussed by the forum and issues that the participants will address, including development issues, ways to promote and integrate alternative financing in Islamic countries, and a proposal for innovative financing methods that respond to today's world and forms of support to Islamic banking and the shift towards banking systems operating in built legislative environments On competitiveness under governance.

Global platform
The Financial Director of the Ministry of Trade and Industry in Qatar, Nasser Al-Muhandi, welcomed the hosting of the forum as a global platform for businessmen looking to enhance global cooperation and support the sustainable development process, and said that the goals of the forum are in line with Qatar's aspirations to play an active role in supporting the Islamic economy, which is expected to be valued $ 3 trillion next year, and translates its quest to become one of the most important capitals of the Islamic economy in the world.

The holding of this edition of the Forum comes amid a sensitive and delicate global scene facing a host of major challenges, such as disputes over international trade policies, tightening global financial policies, economic risks and decision-making, in addition to what is known as destabilizing technology for markets.

The President of the Board of Directors of the World Islamic Economic Forum Foundation Tun Musa Hitam said in a statement to Al-Jazeera Net about Doha’s embrace of the upcoming forum, that Qatar is witnessing accelerating growth that makes it the most attractive destination for direct investments among the countries of the Gulf Cooperation Council, and that the economies of Islamic countries provide great opportunities for growth, given For its sheer size and growing purchasing power.

He considered that the forum's strategy over the past years aims to provide a platform for expanded discussion that brings together officials and businessmen from countries of the world, in order to converge and discuss economic development and banking transactions that concern projects financing in a world that lives in a globalization that does not recognize borders and affiliations, and believing that partnerships in the business sector can To transform into real bridges spanning peace and prosperity between the Islamic and non-Islamic worlds.

Continuous growth
The Islamic economy has proven its worth for years in the face of the economic fluctuations that the world has experienced since the financial crisis in 2008, as Islamic banking continues to appear on the scene strongly through the acquisition of high levels of growth, despite warnings of a possible recession in the global economy and a slowdown in the rate of growth .

Islamic banking services and transactions also receive an increasing demand by individuals and large investors, as well as companies for this type of banking services that provide financing, investment and deposit alternatives in compliance with Islamic Sharia.

According to a report issued by "Thomson Reuters" on the state of the global Islamic economy for the year 2018-2019, the agency expected that the Islamic economy will continue to grow steadily after the value of spending in 2017 amounted to $ 2.1 trillion, while the value of the assets of the Islamic finance sector was estimated at $ 2.4 trillion in 2017, and is expected to reach $ 3 trillion by 2023.

The World Islamic Economic Forum is a non-profit organization based in Kuala Lumpur that grew out of the OIC Business Conference, bringing together heads of government and industry leaders, academic scholars and regional experts to discuss opportunities for partnerships in the field of business in the Islamic world and beyond, and runs programs of various initiatives that contribute to strengthening partnership between peoples and the exchange of knowledge.

The board of directors of the Forum is chaired by Ton Musa Hitam, who is considered one of the most prominent global economic leaderships that adopts the definition of the advantages of the Islamic economy and the production cycles it contributes to reducing differences and achieving development.