Global Islamic Economy Summit 2016

Event overview

  • Event type:

    Summit

  • Organizers:

    Dubai Chamber of Commerce & Industry and Dubai Islamic Economy Development Centre

  • Start date

    October 11, 2016

  • End date

    October 12, 2016

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The Global Islamic Economy Summit (GIES) is the region’s premier forum on the Islamic economy. It brings together world-class experts in critical industry sectors that span geographic regions and cultural boundaries to directly address the greatest challenges and opportunities in the Islamic economy.

GIES 2016 will be held under the patronage of H.H. Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the United Arab Emirates and Ruler of Dubai, from October 11-12, 2016 at the Madinat Jumeirah in Dubai, UAE.

In light of the strong growth outlook across Islamic economies and the tangible progress achieved in recent years, GIES 2016 will focus on further realising commercial opportunities whilst placing emphasis on social development and ethical investment.

By providing a platform for policymakers and industry leaders to connect and drive change, GIES 2016 will contribute to advancing a more equitable economic model and to shaping a better future.

Dedicated to one of the best-performing markets in the world, GIES represents an estimated $2 trillion in consumer spending, by nearly 1.6 billion predominantly young Muslims worldwide.

Spending by this population, which is expanding at twice the rate of the global population, is forecast to reach $2.6 trillion by 2020.

Every pillar of the Islamic economy has been growing at a remarkable rate, presenting countless opportunities for double-digit growth.

Today, Islamic banking assets are estimated to total around $1.65 trillion and are expected to double over the next four years, while expenditure on halal food and Muslim lifestyle is forecast to grow by 10 per cent annually reaching $3.7 trillion by 2019.

At a time where the International Monetary Fund warns that the global economy is sliding into “secular stagnation” due to a slump in commodity prices and a slowdown in investments, the Islamic economy stands in stark contrast, offering a viable solution to success in the 21st century.

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