MANAMA, Bahrain, December 19, 2014 /PRNewswire/ --
Organisation of Islamic
Cooperation Markets Projected to Grow at Average of 5.4%
-
There has been an encouraging early response by global investors
for a new event aimed at generating business in the Islamic finance
sector being held in early March next
year.
Bahrain Economic Development Board (EDB) and the Islamic
Development Bank (IDB) announced the launch of the Global Islamic
Investment Gateway, a pioneering initiative aimed at bringing
together investors and cross-border Islamic investment
opportunities in some of the world's fastest growing economies.
The event, set to take place in March
2015, is attracting decision makers from investment banks,
sovereign wealth funds, investment companies and family offices of
high net worth individuals.
The Global Islamic Investment Gateway is organised by Thomson
Reuters, the Islamic Development Bank (IDB), through its Business
Forum "THIQAH". It is being held at the Gulf Hotel in Manama on March
2nd and 3rd under the patronage of His
Royal Highness Prince Salman bin Hamad Al
Khalifa, the Crown Prince, First Deputy Prime Minister and
chairman of the EDB, and His Excellency Dr. Ahmad Mohamed Ali Al Madani, President of IDB
Group.
The event is geared toward linking investors with opportunities
aligned to their preference, and providing the information and
assurance required to facilitate informed investment decision
making.
It will be supported by an online portal which will collate
international investment opportunities - opportunities that have
been refined with the help of Thomson Reuters' internal specialists
and which are designed to be within a fortnight of being ready to
go to companies' investment committees for approval.
The organisers are collaborating with investment development
agencies and investment originators in Islamic markets to obtain,
review and standardise investment opportunities across sectors.
Organisation of Islamic Cooperation (OIC) markets are projected
to grow at an average of 5.4% till 2019, significantly higher than
the rest of the world (3.6%) and the high growth BRICS markets
(3.9%). This increased economic growth is accompanied by a greater
maturity in their financial markets, enabling greater involvement
of private capital in their development.
His Excellency Dr. Ahmad Mohamed Ali Al
Madani, IDB Group President, said: "The OIC economies are at
the heart of the world's most rapid economic growth and Islamic
finance provides an excellent chance to connect capital to exciting
opportunities in these markets. This event can play an important
role in making that process happen."
His Excellency Kamal bin Ahmed, Minister of Transportation and
Telecommunications and Acting Chief Executive of Bahrain EDB said:
"We are very proud to support this event in Bahrain. We are committed to the development
of the international Islamic finance sector and event such as this,
which will enable real investment in viable projects, can play a
great role in the process."
Dr Sayd Farook, Global Head of
Islamic Capital Markets, Thomson Reuters, said: "The Global Islamic
Investment Gateway will be the premier event for any investor
looking for access to opportunities in emerging and frontier
Islamic markets. These markets have the value chains that have the
potential to provide excellent returns for the capital in the GCC
and this event will give investors the means to access them."
Hasan Al Jabri, Chief Executive
Officer, SEDCO Capital said: "Other events have focussed on the
intellectual issues around Islamic investment which are important
but GIIG is very focussed on linking real investors with real
opportunities and facilitating actual business and we are very
excited to be involved."
The event will feature over 30 OIC countries, split into the key
regional sectors including GCC, MENA, CIS, South East Asia, South Asia, West
Africa and Sub-Saharan Africa and will cover all major
investment sectors, driven by the opportunities presented by the
investment development agencies and investment originators.
Individuals can register their interest at:
http://www.giig2015.com
Notes to Editors
About Thomson Reuters
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intelligent information for businesses and professionals. We
combine industry expertise with innovative technology to deliver
critical information to leading decision makers in the financial
and risk, legal, tax and accounting, intellectual property and
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organization. For more information, go to
http://www.thomsonreuters.com
About the Islamic Development Bank (IDB)
IDB is an international financial institution established in
pursuance of the Declaration of Intent issued by the Conference of
Finance Ministers of Muslim Countries held in Jeddah in December
1973. In the past 40 years, the IDB Group (which comprises
of 5 entities) have promoted comprehensive human development, with
a focus on the priority areas of alleviating poverty, improving
health, promoting education, improving governance and prospering
the people. IDB has grown to be a leading international bank in the
past 40 years, with a AAA credit rating and Zero Risk-Weight'
awards. All over the world, member and nonmember nations are being
helped by IDB. More than 8000 projects, worth around 100 billion dollars, have benefited more than 100
nations and communities worldwide.
The intention behind IDB's efforts is to lessen the imbalance
between poor and rich nations, empowering people in less developed
countries, restoring their dignities and changing the lives of
millions for the better. After 40 years of continuous service, IDB
has embarked on a comprehensive and objective assessment of its
strategies and performance since inception which will eventually
lead into formulating a new strategy. By the year 2020 IDB shall
have become a world-class development bank, inspired by Shariah,
that has helped significantly transform the landscape of
comprehensive human development in the Muslim world and helped
restore its dignity.
About The Bahrain Economic Development Board
(EDB)
The Bahrain EDB is a dynamic public agency with an overall
responsibility for attracting inward investment into Bahrain, and is focusing on target economic
sectors in which the Kingdom offers significant strengths.
Key areas of focus include manufacturing, ICT, and logistics and
transport services as well as other sub-sectors. The Financial
Services sector in Bahrain is
particularly strong and the EDB supports in the continuing growth
of the banking industry and key sub-sectors, including Islamic
Finance, Asset Management, Insurance and Re-Insurance.
For more information on the Bahrain EDB visit
http://www.bahrainedb.com; for information about Bahrain visit http://www.bahrain.com
SOURCE Bahrain Economic Development Board (EDB)