News From : DagangHalal.com (26 Jan 2010)
MANAMA: The sixth World Islamic Economic Forum (WIEF) in Malaysia is likely to have an even bigger presence from the Middle East than last year’s event.
At the last WIEF more than 60 businessmen from Bahrain took part in the event but this year the organisers are running a road show across the GCC to attract even more Middle East participation.
“The sixth WIEF, one of the most important business forums in 2010 focusing on opportunities in the Muslim world, is expected to bring together an estimated 2,000 participants comprising world leaders and the global business community,” forum organiser, and managing director of the WIEF Foundation Syed Abu Bakar, told leading Bahraini businesspeople at a presentation in the Diplomat Radisson Blu Hotel, Residence and Spa yesterday.
“The forum is a global platform where world leaders in government and business converge to network for business opportunities and to discuss business and trade issues affecting the globe.
“Blessed with a wealth of natural resources, the Middle East needs a platform to explore investment opportunities in the new emerging markets of the Muslim world,” he added.
“Home to 1.5 billion people, the Muslim world is a ready investment hub to the wealth of sovereign funds from the Middle East,” he said.
“The recent financial crisis has given many emerging markets of the Muslim world an economic life line that has spurred investments in economic infrastructure in these countries. The sixth WIEF aims to bring these two segments of the Muslim World together to strengthen business partnerships between them.
With the theme “Gearing for Economic Resurgence”, the WIEF will be held from May 18 to 20 at the Kuala Lumpur Convention Centre.
“Muslim countries constitute 30 per cent of the members of the community of nations,” Mr Bakar added.
“Around 65pc of Muslims are below the age of 30 and there is an abundance of young human resources ready to be tapped.
“There is an urgent need to address the problems of poverty, illiteracy, and unemployment in the Muslim world and that is something we can achieve at this event.
“”Bahrain is continuing to develop its ties with Malaysia as was evident with the tie up between Bursa Malaysia and Bahrain Financial Exchange the other day,” said Malaysian Ambassador Syed Sultan Idris.
“There was a strong presence at the last WEIF in Indonesia, led by the Bahrain Chamber of Commerce and Industry, and we are expecting a bigger turnout this year.
“Both Bahrain and Malaysia continue to play an increasingly important role in the world of Islamic finance and it is good to see them coming closer together.”
With Bahrain already home to events like the World Islamic Banking Conference the organisers of WIEF are believed to be looking at Bahrain as a possible venue for the event in the near future.
By ARTHUR MACDONALD