Sharjah Economic Development Department to organise a forum on Islamic Economy

Commenting on the occasion, H.E Ali Bin Salem Al Mahmoud, Sharjah Economic Development Department General Manager, said: "The department has shouldered the responsibility of raising 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's sustainable growth as it will open new vistas for development. The Islamic economy is flexible and in compliance with our beliefs. Adopting the Sharia'a rules will protect our investments from any prohibited action and practice".

Al Mahmoud stated that organising 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.

"The forum will be held under the generous sponsorship of H.H Sheikh Sultan Bin Mohammad Bin Sultan Al Qasimi, Crown Prince and Deputy Ruler of Sharjah and Chairman of Sharjah Executive Council," Al Mahmoud added.

Al Mahmoud said the forum will host a group of economists to highlight a number of topics related to Islamic economy, its role in sustainable growth and its future potentials.

The forum will define and discuss in depth the core concepts of Islamic economy and the needs for this model of economy as well as the relationship between the Islamic economy and the Islamic banks.

Other topics to be highlighted include the definition and models of growth, the role of human resource in Islamic economy and its growth programs and will find answers to such questions as "Did the growth models in Arab and Islamic world succeed?", "What are the financial indicators that measure the success and sustainability of Islamic economy?".

The forum will discuss the role played by Islamic finance in growth process through answering such questions as "How far the enhanced Islamic finance will lead to growth?", the relations between Islamic economy and inflation, revenue distribution, cost of production and the ability for local and international competitiveness.

The forum will highlight the small enterprises and present the Islamic finance model for these projects. One of the most important parts of the forum will be a debate on "Where have we reached and what are our future aspirations?"

The forum will be held at Radisson Sas Hotel in Sharjah on 28th of May. Speaking of the preparations for to organise the forum, Nawal Askar, deputy director of Economic and Public Relations at the SEDD, said: "Preparations are going ahead and we are preparing lists of key corporate and individual investors to be invited to attend the forum. Speakers will be prominent economic experts".