ICCD co-organized the Global Muslim Business Forum 2022 "The Rise of the Global Islamic Economy: Refocusing, Resetting and Recovering in the post-pandemic Era"
In light of ICCD’s relentless pursuit towards advancing the Islamic economy globally, we are honored to announce the successful conclusion of the Global Muslim Business Forum 2022, which was held virtually on Wednesday, October 19, 2022, entitled “The Rise of the Global Islamic Economy: Refocusing, Resetting and Recovering in the Post-pandemic Era “, and co-organized by ICCD with the Strategic Institute for Asia and the Pacific, the Kuala Lumpur Economic Club and Global One.
The Global Muslim Business Forum 2022 was held as part of the exerted efforts to promote the Islamic economy around the world, and included a series of interactive sessions that witnessed the attendance and participation of a distinguished selection of the world’s most prominent business leaders, with the aim of discussing ways to overcome the economic repercussions of COVID-19 pandemic, as well as sharing experiences in the field, thus contributing to the advancement of sustainable development across the OIC member states.
The forum started with the welcoming remarks of both of H.E. Mr. Tan Sri Abdul Majid Khan, the Organizing Chairman of the Global Muslim Business Forum and Deputy Chairman of the KSI Strategic Institute for Asia Pacific, and H.E. Mr. Yousef Hassan Khalawi, Secretary-General of ICCD, who stressed the necessity of Solidarity and combined efforts among the countries of the Islamic world, to serve their mutual goals and interests, referring to the efforts of the late President of ICCD, Sheikh Saleh Kamel, to emphasize the importance of cooperation in the field of investment as a fundamental pillar for achieving economic development across the OIC member states.
Emphasizing the role of governments in supporting and promoting the Islamic economy around the world, H.E. Mr. Dato Sri Mustapha Mohamed, Minister in the Malaysian prime minister’s Department for Economic Affairs, delivered his opening remarks at the Global Muslim Business Forum 2022, during which he highlighted the strenuous efforts of the Malaysian government in the areas of Islamic finance, stating: “Malaysia one of the top 5 countries with the biggest Islamic finance assets with over $ 619 billion in 2021”.
In the context of the quest for strengthening cooperative economic relations among the countries of the Islamic world, the first session of the Forum has been held entitled “The Global Islamic Economy – The Road to Recovery: Reviving International Trade, Investments and Economic Cooperation”, to highlight the ways and mechanisms of strengthening economic cooperation among the OIC member countries.
H.E. Mr. Yousef Khalawi, ICCD Secretary General, participated in this session and emphasized that the growth of the Islamic economy is no longer limited to Islamic countries, referring to the experience of the Islamic Bank of Australia, which seeks to provide a full range of business banking services, without any Interest and in accordance with Islamic sharia law.
Out of the pivotal importance of the digital economy in promoting the economic growth globally, Mr. Jani Ibrahim, National Vice President of the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture, referred to the digital economy as one of the most important pillars of Nigeria’s development process, during his participation in the session “The Global Digital Economy – Rise of Digital Technology and Innovation”.
In this regard, Mr. Shazali Suleiman, Chairman of Brunei Darussalam International chambers of Commerce and Industry, and a Partner of the Shazali & Partner Foundation, pointed out the efforts of the government of Brunei Darussalam to promote the digital economy, which is one of the most significant positive impacts of the global COVID-19 Pandemic.
Striving to promote the halal industry globally, Eng. Ashraf El Tanbouly, CEO of Islamic Chamber Halal Services, stressed, during his participation in the session of the Forum entitled “The Halal Economy: How to Leverage the $2 Trillion Global Opportunity?”, on the necessity to further develop halal standards around the world, rather than being limited to Muslim countries only.
In the light of the global pursuit of women empowerment and enhancing their participation in the development process, Ms. Aalia Jafar, Director of International Relations of the Islamic Chamber of Commerce and Development, highlighted the pivotal role of business leaders in creating a conscious generation of women entrepreneurs, during her participation in the session “Women & Social Impact – The Next Frontier of Growth”.
In this respect, Ms. Khairunnisa Ash’ari, President of the Brunei Youth Council and Community Engagement Director at Green Brunei Foundation, pointed out the challenges facing women entrepreneurs all over the world and how to address these challenges in order to drive the global economic growth forward. Hon. Ms. Sophia Noor, Member of Parliament of Kenya, also highlighted the importance of developing a legal framework for achieving women economic empowerment worldwide.
Given the importance of renewable energies in the climate mitigation, Mr. Asif Ibrahim, Chairman of the Chittagong Stock Exchange and Former Chairman of the Dhaka chamber of Commerce in Bangladesh, highlighted the efforts of the government of the People’s Republic of Bangladesh to reduce carbon emissions and promote the transition towards a green economy, during his participation in the final session of the Global Muslim Business Forum 2022, entitled “Green Economy, Renewable Energy and Climate Action “.
In this context, YB. Dr. Haji Hazland bin Abang Hipni, Deputy Minister for Energy and Environmental Sustainability, cited the industrial transformation process as the primary cause of rising the climate change, indicating the action needed to be taken to encounter the impacts of climate change worldwide. Dr. Mushtaq Ahmed Memon, UNEP Regional Coordinator for Chemicals and Pollution Actions, also stressed the importance of the circular economy as an effective way to achieve carbon neutrality, which is the cornerstone of the transition towards a green economy.
On the sidelines of the Global Muslim Business Forum 2022, in the presence of a selection of countries’ ministers and representatives, as well as business leaders from all over world, a gala dinner was held under the auspices of the State Government of Sarawak, at the Hilton Kuala Lumpur Hotel, Malaysia, in order to honor a selection of outstanding entrepreneurs who were able to make remarkable achievements in various areas of business.
During his speech at the gala dinner, H.E. Mr. Youssef Hassan Khalawi, Secretary General of ICCD, praised the efforts of the award-winning entrepreneurs in promoting the economic well-being of the countries of the Islamic world, indicating: “One of our most important duties today in the business sector, is to provide our new generations with good examples and ideal models in the various business sectors”.
Within the framework of ICCD’s endeavors to develop the prospects of the economic cooperation with its member chambers, a cooperation agreement was signed between the Islamic Chamber of Commerce and Development and the Strategic Institute for Asia and the Pacific, aiming at cooperating in organizing a series of international events, in order to create a global platform for the Islamic business community, enhance the commercial cooperation to promote economic well-being and advance sustainable development globally.
ICCD’s participation in organizing the Global Muslim Business Forum 2022, entitled “The Rise of the Global Islamic Economy: Refocusing, Resetting and Recovering in the Post-Pandemic Era”, is part of the Chamber’s efforts to support Islamic business and raise the status of the Islamic economy globally.
In this regard, ICCD reaffirms its tireless pursuit of achieving sustainable economic and social development throughout the world, and its tireless commitment to cooperate with all the relevant institutions in order to create a more advanced future for the OIC Member States.
About ICCD:
Islamic Chamber of Commerce and Development is an international institution affiliated of the Organization of Islamic Cooperation (OIC). It represents the private sector of 57 member countries of OIC, as well as observer members and other associate members from Muslim minorities. ICCD aims at strengthening cooperation among its member states in the areas of trade, industry, and information technology, and promoting investment opportunities and joint- projects among member states. Its membership consists of national chambers, unions, councils of chambers of commerce and industry in OIC member states.
ICCD was established based on the decision of the Seventh Islamic Conference of Foreign Ministers, which took place in May, 1976 Istanbul, Turkey. And was adopted by the first conference of chambers of commerce and industry in Islamic world countries, which also held in Istanbul, Turkey in Oct., 1977.
Later, the constitution of ICCD was passed by the second conference of chambers of commerce and industry in Islamic world countries, which held in Dec., 1978 in Karachi. Its headquarters in Karachi, the economic capital of the republic of Pakistan.
For more information about ICCD and its upcoming economic projects, kindly visit our website: https://iccdglobal.com , or contact media department via email: news@iccdglobal.com