Brunei preps for World Islamic Economic Forum

BRUNEI will have the opportunity to forge a network and learn from professionals and leading institutions of OIC members at the World Islamic Economic Forum (WIEF) 2010, which will be held in Kuala Lumpur, said Sultan Sharif Ali Islamic University's (Unissa) dean of Faculty of Business and Management Science.

Dr Mohamed Sharif Bashir said that this network will allow the sharing of knowledge, ideas and experiences, allowing Brunei delegates to benefit from the experiences of their international counterparts.

"I think WIEF offers a very good international discussion on formulating a common approach to business building and a common market that each member is an active part of it," he said.

"Delegates from Brunei and other OIC members will meet to discuss different policy proposals on business and investment partnerships can be formatted," added the chairman of the International Conference on Islamic Finance's organising committee.

About 2,000 participants, comprising government leaders and the global business community, are expected to attend the WIEF from May 18 to 20.

The participants hail from countries such as Indonesia, Senegal, Syria, Maldives, Pakistan, Kazakhstan, Bangladesh, Netherlands, Canada, Mauritius and Brunei.

"WIEF 2010 is one of the most important business forums scheduled for this year, due to its focus on a niche market of the emerging economies of the Muslim world," said Dr Mohamed.

He added that he felt that collaboration is the salient feature of current international relations and business partnerships can become genuine bridges towards peace, prosperity and economic growth between the Muslim and non-Muslim economies.

"I think the time has arrived for all OIC members, including Brunei, to explore and identify means to strengthen their cooperation and to break any deadlock caused by excessive bureaucracy."

"They need to leverage on information technology to ensure the rapid transfer of information on available business and investment opportunities with members through a comprehensive trade directories and databases," he added.

Dr Mohamed also said that the conference was also a good opportunity to put Brunei on the map by promoting the Sultanate as an ideal partner in the economic development of the Muslim world, especially in the areas of halal food and Islamic finance.

He said that in addition to the main programme of the forum, there will also be a series of strategic workshops for members of delegations, organised on the themes of Islamic Finance and Banking via collaboration with several institutions from Malaysia.

Among the institutions involved are Bank Negara Malaysia, Malaysia Tabung Haji, Association of Islamic Banking Institutions Malaysia, International Centre for Education in Islamic Finance.

"The delegates will share experiences in promoting Islamic finance, enhancing talent and developing Islamic banking and finance industry.

"I think this kind of activities will bring together successful businessmen and finance professionals to work for the betterment of Brunei institutions, organisations and communities," he said.

The Brunei Times