Dubai Islamic Economy Development Centre opens submissions for Islamic Economy Award 2014

DUBAI: Under the patronage of Vice President and Prime Minister and Ruler of Dubai His Highness Sheikh Mohammed bin Rashid Al Maktoum, and in line with the directive of H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, Dubai Islamic Economy Development Centre (DIEDC) in conjunction with Thomson Reuters has opened submissions for the second Islamic Economy Awards.

Launched in 2013, the annual award seeks to recognise innovative world-class business initiatives and ideas that are sharia-compliant and contribute to the social and economic welfare of the Muslim population.

Mohammed bin Abdullah Al Gargawi, Minister for Cabinet Affairs and Chairman of the Executive Office of His Highness Sheikh Mohammed bin Rashid Al Maktoum and Chairman of Dubai Islamic Economy Development Centre, said, “The Islamic Economy Award strengthens the U.A.E.’s position as a pioneer in this important sector. We have aimed to set a global benchmark with the award that seeks to articulate the Dubai: Capital of Islamic Economy vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum in accordance with the direction of H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum.

” Al Gergawi added, “Through organizing the second Islamic Economy Awards, we reiterate our keenness in providing a platform that highlights the capabilities of different institutions working in Islamic Economy. We are confident that honouring organisations and individuals that support the Islamic economy and develop its sectors will drive greater advancement and innovation.” DIEDC announced that nominations for the second round of the award via the website are currently underway and will close on 7th October 2014. The award winners will be announced in the fourth quarter of 2014.

Hussain Al-Qemzi, member of the DIEDC board and head of the jury panel, said: “DIEDC s initiatives, including the Islamic Economy Award 2014, have drawn increased and conscious participation from diverse industries in their commitment to contribute to the Dubai Capital of Islamic Economy vision. We are confident the second Islamic Economy Awards will strongly outpace the participation registered at the inaugural edition last year.

We invite change-makers and key influencers to apply for the awards.” Dr. Sayed Farook, Global Head Islamic Markets at Thomson Reuters, said, “Thomson Reuters is honoured to manage the Islamic Economy Award in conjunction with DIEDC. The Islamic economy as one of the largest identifiable market segments across borders is set to shape the aspirations of a young population of more than 1.6 billion. It is important we identify and recognise trailblazers who have inspired and shown the way for others towards shaping this ethical economic paradigm.

” Nadim Najjar, Managing Director, Middle East, Africa and Russia/CIS, for Thomson Reuters, said, “The Islamic Economy Award initiative in partnership with DIEDC is an opportunity to recognise the individual efforts and progress being made. In recognising the business leaders of the Islamic economy, we are not only acknowledging their efforts but also inspiring a new generation of change-makers to take the Islamic Economy forward.”

The Islamic Economy Award will recognise global and regional leadership within the following eight categories: 1. Islamic Finance – Islamic microfinance, SME & Venture Capital Financing, corporate or sovereign sukuk issuing entities, takaful and retakaful, Islamic banking, and Islamic fund management 2 Food & Health – Agriculture, ingredients and manufacturing, retail, logistics, research and product development and food services, cosmetics, personal care, and pharmaceuticals 3. Media – Entertainment shows, publications, social media, and mobile apps 4. Hospitality and Tourism – Family friendly travel, meetings, incentives, conferences and exhibitions (MICE), medical tourism, and Hajj/ Ummrah 5. Waqf and Endowments – Innovative solutions, government managed and private awqaf/waqf management services, and cross-border waqf 6. SME Development Technology, incubation, training, infrastructure and SME Eco System development.

7. Islamic Economy Knowledge Infrastructure – Research and educational institutions or initiatives, compliance and standardisation 8. Islamic Arts – Artists, fashion and jewelry designers In addition, a Lifetime Achievement Award will recognise an outstanding business leader for demonstrating inspired leadership while positively influencing the Islamic economy and making an impactful contribution to the sector.

DIEDC was established in December 2013 to transform Dubai into the Capital of Islamic Economy , as envisioned by Vice President and Prime Minister and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum.