Abu Dhabi Islamic Bank (ADIB) will be the main sponsor of the Global Islamic Economy Summit (GIES) to be held in Dubai in late November, and will also leading a debate on ethics in the banking sector.
The summit is being held under the patronage of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and is organized by Dubai Chamber of Commerce and Industry and Thomson Reuters.
The two-day event that begins on November 25 is designed to initiate critical dialogue on the Islamic Economy, including financial services, Halal food, SME development to name a few. Featuring high profile speakers including Mark Mobius and Nouriel Roubini, the summit reinforces Dubai’s recently launched strategy to become a global centre for the Islamic economy within three years.
On November 25, His Excellency Sultan bin Saeed Al Mansouri, the Minister of Economy of the UAE, will lead an international panel of ministers on the role of the Islamic economy in the broader marketplace.
Abu Dhabi Islamic Bank (ADIB) Chief Executive Officer Tirad Al Mahmoud will be leading a CEO debate on the morning of November 26 on how Islamic banks can lead the way in pushing ethics to the forefront of globalfinance agenda.
“The global crisis brought up poignant questions of how economies should be structured, and about the role and methods of financing. With ethical considerations at their heart, Islamic-focused financial institutions and companies can really make a positive impact on economic development,” said Al Mahmoud. “This summit is an important step in the process, gathering leading figures in Dubai, which is showing strong leadership as a global hub for the Islamic economy.”
As well as taking the role of title sponsor, ADIB is collaborating with Thomson Reuters to launch awards that reward ethical solutions to socio-economic challenges, and innovation in Islamic finance. Winners of the awards will present their solutions during the Summit.
The awards, which command prizes of up to $100,000, have attracted over 100 entries, ranging from a Shari’ah-compliant fund supplying schools with cheap, clean energy to a new way to hedge financial risk.
Source: CPI Financials