Sharjah Economic Development Department to launch a forum on Islamic Economy and future aspirations

The forum on Islamic Economy and future aspirations will be launched at Radisson Sas Hotel in Sharjah tomorrow, May 28th, as part of the SEDD’s efforts to spread awareness of Arab and Islamic economies and their great growth potentials

The event will be held under the patronage of H.H Sheikh Sultan bin Mohammed Al Qasimi, Crown Prince and Deputy Ruler of Sharjah, the Sharjah Economic Development Department-organized

The forum will begin by reciting some verses of Holy Quran, then a short statement by H.E Ali Bin Salem Al Mahmoud, Sharjah Economic Development Department General Manager.

The sessions will include three working papers by Sheikh Tariq bin Faisal Al Qassimi, Chairman of Emirates Investments Group, Dr. Mabid Al Jarhi, Financial Expert and Head of Training Unit at Emirates Islamic Bank and Dr. Hatem Al Qarnashawi, professor of Islamic Studies at Qatar University.

The list of topics to be discussed at the forum’s session includes seven topics, namely, 'definitions and aspects of Islamic economy', 'Islamic Economy: aspirations and challenges', 'sustainability of Islamic Economy', 'the role Islamic Economy plays in economic growth', 'International financial institutions trend to use Islamic solutions', 'Obstacles confront codification of Islamic Economy, definition and solutions' and 'Islamic Economy’s culture among investor communities'.

The three speakers are key and prominent experts in this field. They will enrich the forum by their wide experience in economy, in general, and particularly the Islamic economy.

Sheikh Tariq bin Faisal Al Qassimi graduated from the Higher Colleges of Technology, UAE with a Bachelors Degree in Business Administration and received his Masters Degree in International Finance from Westminster University, UK. He also has several certificates - from Harvard University, the London Business School, Stanford University and the University of Cambridge. The Chairman of the giant Emirates Investments Group was a member in Sharjah Executive Council and has held the position of SEDD Chairman as well as many other senior positions.

He has won the young leader award in recognition of his outstanding contribution in setting up an ideal investment infrastructure to attract investments. He has interests in investment, real estate development, trade and contracting as well as in economy and economic researches.

Dr. Mabid Ali Al Jarhi is currently a Financial Expert at Emirates Islamic Bank, a President of International Association for Islamic Economics, London, and an Executive Secretary of Shariah Board-Dubai Financial Market.

He was closely associated with developing an Islamic scheme for financing trade in IDB, KSA, as a Manager of the scheme. He is the editor of unified Arab economic report and has served as Secretary-General of the Council of Governors of Arab Central Banks at the Arab Monetary Fund, Abu Dhabi.

Dr. Hatem Al Qarnashawi, professor of Economics and Finance and Dean of College of Islamic Studies Islamic Studies at Qatar Foundation. He was the former economic advisor for Egypt Prime Minister, a member in Central Bank’s Board of Directors and deputy governor of International Monetary Fund, Abu Dhabi.

Commenting on the occasion, H.E Ali Bin Salem Al Mahmoud, Sharjah Economic Development Department General Manager, said: 'The SEDD is organizing this event which is sponsored by Sharjah Islamic Bank with the aim to raise awareness of Islamic economy culture among investors and audience, alike, in a bid to boost Sharia’a compliant Investments.

The growth of this type of investment will significantly contribute to the UAE sustainable growth as it will open new vistas for development. The Islamic economy is flexible and in compliance with our beliefs'.

Al Mahmoud stated that organizing this forum comes in line with Sharjah’s directions set by H.H. Dr Sheikh Sultan bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Sharjah, and the necessity to implement these directions which cover all aspects of life.

Al Mahmoud clarified that the forum will discuss different aspects of Islamic Economy such as Islamic finance, Islamic business practices and positive sides of Islamic Economy which has become one of the most powerful and effective economic systems all over the world.

Al Mahmoud indicated that the forum will see great attendance by top economists, businessmen academics and specialists as well as an extensive media coverage.