UAE Urges Stronger Economic Ties To Improve Islamic Business Worldwide
The United Arab Emirates (UAE) Minister of Economy & Foreign Trade urged Monday stronger economic ties among the Islamic countries to further boost Islamic business across the world.
“There are 1.7-B Muslims living worldwide and the economies of the 57 Islamic states grow at an average of 5% per year,” Sultan Al-Mansouri told the Global Islamic Economy Summit (GIES) 2015.
Earlier in the day, UAE Vice President, Prime Minister and Ruler of Dubai Sheikh Mohammed Bin Rashid Al-Maktoum opened the 2-day GIES, which is organized by the Dubai Islamic Economy Development Center (DIEDC).
In a Keynote speech, Nobel Laureate Muhammad Yunus urged over 2,000 delegates not to regard Islamic business and finance as a means to focus on earning money, but to find the balance between the economy, society and the environment.
“Economy is not about profits; it is about people. All 3 Ps, the profit, people and the planet, are equally important,” said Mr. Yunus, who received the Noble Peace prize in Y 2006 for pioneering the global micro-financing movement to help the poor.
According to a DIEDC report released at the forum, the overall size of the Islamic economy worldwide is US$1.81-T. It is set to grow to US$2.58-T by Y 2020.
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Paul Ebeling
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