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Sheikh Ahmed bin Mohammed Inaugurates The Islamic Economic FIQH Forum In Dubai

World Affairs – Finance

Open Eyes Opinion {source: WAM}

Sheikh Ahmed bin Mohammed Inaugurates The Islamic Economic FIQH Forum In Dubai

Dubai, 22nd March, 2015 — HH Sheikh Ahmed bin Mohammed bin Rashid Al Maktoum, Chairman of the Mohammed bin Rashid Al Maktoum foundation, on Sunday inaugurated the activities of the Islamic Economic Fiqh Forum at Dubai World Trade Centre. In context of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President State, Prime Minister and Ruler of Dubai’s quote, “Dubai is the capital of Islamic Economies in the world”, therefore, the Forum will aim to foster the development of Islamic economics.

The Department of Islamic Affairs and Charitable Activities (IACAD) is organising the “Islamic Economy Fiqh” forum in collaboration with Dubai Islamic Economy Development Centre from 22-24 of March 2015. It is aligned with Dubai’s plans to establish itself as the capital of the Islamic economy.

Earlier today, the Forum began with the national anthem followed by recitation of verses from the Holy Quran. A documentary about Dubai’s experience in various fields as well as the story of its success from a mere desert to an oasis of innovation was screened. The film also highlighted the city’s key characteristics of diversity. With over 200 nationalities inhabiting the city, the film also exhibited strong infrastructure, economic dynamism and flexibility of legislation, and regulations of Dubai.

The video shed light on the forum’s ambition through prominent pillars namely, finance, halal sector, family tourism, digital infrastructure, designs, knowledge and standards.

Director General of the Department of Islamic Affairs and Charitable Activities (IACAD), member of Council for Islamic Economics Centre Dubai, Chairman of the Organizing Committee of the forum, Dr. Hamad Al Shaibani, highlighted the forum’s importance as a stepping-stone towards the establishment of a global reference. In his speech, he emphasized the standards of Islamic economics and pointed out that the presence of prestigious scholars from the Islamic law and economy makes the forum the most prominent of all, and puts it on the map of leading economies. Based on strong foundations of Shari, the forum is set to become a leader of the Islamic thought and jurisprudence.

He added, “IACAD’s initiative comes as a consecration of the efforts of His Highness Sheikh Mohammed bin Rashid Al Maktoum, in upgrading Dubai to be an Islamic Economics capital of the world. We will do our best to translate the recommendations of the Forum into reality on ground. The decisions that arise out of the forum are bound to be the nucleus of the Islamic economic work. This is the beginning of the formation of a legislative doctrinal reference to Islamic economic action at the global level.”

Citing words of His Highness Sheikh Mohammed bin Rashid Al Maktoum at the launch of the initiative, Shaibani said, “We’re in the heart of the Islamic world. A strategic location, innovative infrastructure, expertise and experience in the field of Islamic economics, has put us on the top. We will resolve to fulfill our goals and achieve our vision.”

In spite of all the obstacles, Dubai has become a land of opportunities with international schools offering its expertise. Shaibani comments, “We are counting a lot on the decisions that will be issued by the Forum, to become an anchor for Islamic transactions on a global level. This forum is only the beginning of more conferences and meetings that will frame a new phase in the Islamic economy.”

In his speech to the forum, Shaykh Abdullah bin Bayyah, President of The Forum for Promoting Peace in Muslim Societies, confirmed that the relationship between peace and the economy is intimate. He stressed that the leaders of this country are aware of the dimensions of their key responsibilities; without their security and the blessings of God, we wouldn’t have witnessed so much prosperity.

He further added, “The Islamic economy is as old as Islam, but the need to look through the renewed vision in association with the worlds is of high importance. The Forum is here to ensure that all dealings come in Islamic context and builds a framework of the law.”

The forum has four key themes, legislation, application, analysis and the future, all enhancing the emirates position as the hub for Islamic economy. The academic panel of the forum has already announced research submission requirements on the IACAD website and announced prizes for distinguished plans supporting Islamic economic laws and Dubai’s roadmap to becoming the Islamic economy capital.

Visit IACAD   http://www.iacad.gov.ae/en/Pages/default.aspx

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