KUALA LUMPUR, September 14, 2005 (IslamOnline.net & News Agencies) – A three-day World Islamic Economic Forum (WIEF), formerly known as OIC Business Forum, will be hosted by Malaysia October 1, with the participation of more than 30 Muslim and non-Muslim countries.
The forum will be attended by about 400 participants, according to Malaysia’s Bernama News Agency Tuesday, September 13.
The Asian Strategy and Leadership Institute (ASLI) chief executive officer said the forum would most importantly provide opportunity for participants to be updated on the global Muslim market, which was not restricted to Organization of Islamic Conference (OIC) countries.
"This is an opportunity even for non-Muslims to see the potential of the Muslim markets," Dr Michael Yeoh told reporters at a briefing in Kuala Lumpur Tuesday.
Yeoh added that Islam was now one of the fastest growing religions in the western world, especially in the United States.
Yeoh had said earlier that the forum would address key issues facing the Muslim societies ranging from business and economics to science and technology.
"The forum would also be used to link business operations of non-Muslim nations, especially those from Europe, with Muslim nations," he said.
The forum will be co-organized by ASLI, the Ministry of Foreign Affairs, Islamic Chamber of Commerce and Industry and Islamic Center for Development and Trade.
It will be a follow-up to the successful conclusion of the second OIC Business Forum held last October, at the end of which a declaration was made to rename the forum to WIEF.
Facilitating Dialogue
Yeoh added that the change in name would help facilitate dialogue between Muslim and non-Muslim countries.
"This is where participants can identify and promote business and investment opportunities, dialogues and ideas among Muslim and non-Muslim entrepreneurs," he added.
He explained the forum would also seek to address the potential of Muslim women in the Muslim market which had not been given sufficient prominence before.
Yeoh added three women ministers from Kuwait, Bahrain and United Arab Emirates would speak on the Muslim women issue and their emerging potential in the 21st century.
The forum is expected to provide a vital platform for positive and healthy interaction between government leaders, civil society and business communities for the benefit of Muslim communities worldwide.
It is expected to be attended by several heads of governments, including Malaysian Prime Minister Abdullah Ahmad Badawi, Pakistan Premier Shaukat Aziz, Indonesian President Susilo Bambang Yudhoyono, Senegal President Abdoulaye Wade, Maldives President Maumoon Abdul Gayoom and Bangladesh Prime Minister Begum Khaleda Zia.
Former Malaysian Premier Mahathir Mohamed will deliver a special luncheon address on Islamic Renaissance, according to Bernama.
Malaysia’s Journey
In a separate-related issue, Badawi has called on international portfolio investors to participate in Malaysia's journey towards attaining developed nation status, Bernama reported.
Malaysians stand to reap handsome returns since a definitive recipe for success has been put in place, he said at the Malaysian Global Roadshow at the Merrill Lynch Financial Center Monday.
Badawi, the current chair of OIC, said they should find out more about the potential economic and market benefits the country has to offer based on facts and from those who had been in Malaysia.
He also stressed that there would not be any let-up in the fight against corruption as "the government recognizes that the menace raises the cost of doing business."
Abdullah also highlighted to the mostly Western audience that Malaysia was a modern and progressive Islamic nation which was a safe haven for investments and a secure destination for tourists.
"I have espoused Islam Hadhari -- literally civilization Islam -- as an approach towards building a progressive Islamic civilization in Malaysia and the Muslim world.
Islam Hadhari is the brainchild of Badawi, who maintains it is derived from the core principles and teachings of Islam.
The concept has the capacity to generate strength for a nation because it gave emphasis to various matters including knowledge, economy, culture, moral values and defense, he believes.
Malaysia now stands out as a very successful country, whose Muslims make up 60% of the overall population, heading towards the status of developed nation with huge buildings, beautiful cities and a fast track economy that is doing well.