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The Dubai Islamic Economy Development Centre (DIEDC) today released a detailed agenda for the Islamic Economy Week that is set to kick off on Saturday, 27 October, 2018. The event, extending until Thursday, 1 November, 2018, will feature the fourth edition of the Global Islamic Economy Summit (GIES 2018), that also includes the sixth Islamic Economy Award (IEA) ceremony. The week will also host the Islamic Creative Economy Competition (ICEC) and the Global Islamic Business Award, as well as other activities related to various sectors within the Islamic economy.
Following the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, the Vice President, Prime Minister and Ruler of Dubai, the Islamic Economy Week was announced during the third DIEDC board meeting for 2018 chaired by Sultan bin Saeed Al Mansouri, Minister of Economy, who announced the initiative as part of the Centre’s efforts to enhance Dubai’s position as the global capital of Islamic economy. The Islamic Economy Week is also designed to spread the principles and ethics of Islamic economy, while highlighting its pivotal role in overcoming the emerging economic challenges. The activities, organised in collaboration with strategic partners from the public and private sectors, will utilise a 360-degree approach to cover a spectrum of aspects that highlight Dubai as the global reference for innovation in the Islamic economy sector.
The Global Islamic Economy Summit, running from 30 to 31 October at the Madinat Jumeirah, will serve as a key highlight of the Islamic Economy Week. Held under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, the summit is organised by DIEDC and the Dubai Chamber of Commerce and Industry in collaboration with Thomson Reuters as a strategic partner.
The flagship event will bring together influential policymakers and experts to address the greatest challenges and opportunities in Islamic economy. Given the prospects for strong growth in the Islamic economy sectors and the remarkable progress achieved in recent years, the Global Islamic Economy Summit 2018 will focus on the importance of trade opportunities, social development and ethical business investment.
The sixth Islamic Economy Award ceremony, organised by DIEDC in partnership with Thomson Reuters under the directives of H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, will take place on the sidelines of the fourth Global Islamic Economy Summit (GIES 2018).
For its part, the first-of-its-kind Global Islamic Business Award will honour companies that serve not only its shareholders, but also its employees, customers, and the community at large, in accordance with Islamic values. Led by the Department of Economic Development in Dubai, the award is distributed based on the criteria of the Islamic Business Excellence Model developed by the Global Islamic Business Excellence Center. The model comprehensively translates Islamic values into corporate governance practices and management enablers to create sustainable benefits for all stakeholders.
Speaking on the award, Sami Al Qamzi, Director General of the Department of Economic Development in Dubai and Vice Chairman of DIEDC, said: "The Global Islamic Business Award facilitates the integration of Islamic business excellence standards into economic activities across all sectors, while boosting competitiveness amongst organisations in shaping them to become exceptional sharia-compliant organisations."
He noted that the award further enhances corporate social responsibility as a core priority amongst companies, and empowers societies by increasing societal happiness through contributing to sustainable development. In doing so, it embodies Islamic values. The award aligns with the wise leadership’s drive to raise awareness of corporate social responsibility through encouraging entities to do more than merely organise charity activities as part of their CSR mandates.
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