LONDON: His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince and Deputy Supreme Commander of BDF and First Deputy Premier, is leading Bahrain’s delegation to the 9th World Islamic Economic Forum 2013 London in which 130 countries are taking part which opens on Tuesday at Excel London.
The Kingdom of Bahrain, a pioneer in Islamic banking and finance, will share its expertise and experience during the conference which will be attended by over 2600 delegates, a 100% increase than expected attendance of an earlier estimate.
This is the first time that any non-Muslim state is hosting this prestigious event and Great Britain will reaffirm its position as an emerging global Islamic banking destination in the world by linking East and West in addition to its undisputed position as global banking hub.
“I am very pleased that His Royal Highness, the Crown Prince and First Deputy Prime Minister, Salman bin Hamad Al Khalifa, will be representing Bahrain at this important conference. There is also be an accompanying high-level delegation,” Hugh Robertson MP, Minister of State at the Foreign and Commonwealth Office for Middle East and North Africa, a prevent statement said.
“For me, WIEF London encapsulates the emergence of new economic ties between nations, religions and cultures. Some want investments that are managed in accordance with their faith. Others are, in the wake of the financial crisis, drawn by principles of balance, shared risk, fairness and transparency. While others still are attracted by the sheer potential of an industry worth around $1.85 trillion globally with growth rates of up to 15% per year. Whatever the draw, the buzz around Islamic and ethical finance continues to grow louder and stronger,” he added.
“The UK, already home to the world’s financial and legal capital, is an increasingly important global player in Islamic Finance and its status, reach and competitive market makes the service it is able to offer truly unique,” the Minister explained.
“Our expertise in Islamic Finance, where we have a growing number of banks, law firms and other service providers with a wealth of experience, is highly developed, and supported by an internationally renowned legal system and regulatory framework; a time-zone that is advantageous to doing businesses in the East and in the West; and thriving and cutting edge sectors as diverse as healthcare, education and smart cities,” the Minister added.
“As delegates will see this week, the UK is open for business and has the experience, the skills, the innovation, and the connections to overcome the challenges of the global, 24 hour market and make the most of every economic opportunity. It’s why we are rightly seen as a partner of choice and why this week’s WIEF will cement Britain’s position as the leading Western country for Islamic finance,” he said.