October 05, 2015 – Tawreeq Holdings, the world’s first provider of comprehensive Sharia-compliant Supply Chain Finance (SCF) solutions, proudly participates as a silver sponsor at the Global Islamic Economic Summit (GIES), which was held under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai.
At Tawreeq we are pleased to have participated at the second edition of the GIES summit organised by the Dubai Chamber, Dubai Islamic Economy Development Centre (DIEDC) and Thomson Reuters as a silver sponsor in a significant event that reflects Dubai’s aims to position itself as the global capital of the Islamic Economy.
“A well-diversified gathering of thought leaders and stakeholders covering the key pillars of the Islamic Economy, reflecting the milestone in realizing the vision of H.H. Sheikh Mohammed bin Rashid for Dubai to become the Capital of the Islamic Economy; the GIES is the global platform to share insights and developments across the Islamic Economy and focus on fostering growth and development through innovation and ethical finance that promotes sustainability” said Haitham Al Refaie, Chief Executive Officer of Tawreeq Holdings.
The Islamic Economy continues to grow at a rapid pace, nearly twice the rate of global economic growth, and considered one of the fastest growing sectors in the world.
The data in the State of the Global Islamic Economy (SGIE) report, published by the DIEDC and in partnership with Thomson Reuters and DinarStandard highlights the significant progress achieved by the Islamic Economy across the seven sectors.
At Tawreeq we strongly believe in the importance of fostering innovation and catering for the growing SME sector, tailoring the working capital solutions in Sharia-compliant manner to support their sustainability and empower the growth of the sector.
In reflection to our core values and as a sponsor of the Innovation Section of the SGIE Report Haitham Al Refaie, CEO of Tawreeq Holdings, said, “As the region’s first Sharia-compliant supply chain finance group, Tawreeq Holdings is committed to developing a better understanding and appreciation for the opportunities and prospects that exist within the rapidly growing Islamic Economy. As a group driven by innovation, Tawreeq firmly believes in the pivotal role it plays in enabling Islamic finance to reach is potential, and in its ability to address many of the challenges posed by the region’s large funding gap, its increasingly complex regulatory environment and a deep integration with global financial markets. It gives us great pride to have contributed to this significant report, which we hope will benefit all stakeholders within the Islamic finance industry.”
Our participation at the GIES is in line with our commitment to supporting the Dubai Government’s initiative to become the Capital of the Islamic Economy. The event highlighted the developments and was a great opportunity to share our profound value of the positive impact ethical finance has on the economy by catering for the SME sector and supporting their means of sustainability and growth.