Assistance to the growth and development of the small and medium enterprises (SME) was the main topic of the World Islamic Economic Forum – WIEF 2015.
The Prime Minister of Malaysia Najib Tun Abdul Razak, the Chairman of Bosnia and Herzegovina, the Vice-President of Azerbaijan Yakub Eyubov, the President of Islamic Development Bank (IDB) Dr. Ahmad Mohamed Ali Al-Madani and the number of market’s key player were among many honored guests that attended the event. The president of Islamic Business and Finance Development Fund Linar Yakupov represented Russia in the Forum.
The participants of this large-scale global event focused on the issues of supporting the SME’s - the foundation of the Muslim world economies, under the conditions of the current world economic recession, and on the development of measures and decisions to form an enabling environment for entrepreneurship development.
Topics such as the women’s part in economy, the “halal” industry, education, finance, Muslim fashion, art, technology and innovations were also discussed in the Forum. The topic of “green” entrepreneurship, where the financial component is connected with an eco-friendly business, was also an important subject in discussions.
It was noted on the Forum that Malaysia, which is rightfully recognized as one of the leading countries in advancement of the Islamic financial system, is planning to be involved in a wider range of activities: from Islamic Finance introduction to a various sectors to business conduction, consulting organizations, which operate in this area, and investments. Malaysia intends to provide a wide range of services per se, considering how actively Islamic finance is developing, and how qualitative and demanded it is.
The mentoring institute was founded for the women, whose part in the economy is indisputably recognized today, which assists them to take up the key positions and to build their businesses independently.
Linar Yakupov, who represented the Russian site, spoke about the work of IBFD Fund and feasibility study for launching an Islamic bank or Islamic banking window in Russia, on which IBFD Fund has been working within Malaysian-Russian Consortium. The final version of the feasibility study will be presented on IFN CIS&Russia Forum in March 2016, which for the very first time will be held in Russia.
The World Islamic Economic Forum has yet again proved itself as a business event; as a platform, whose main tagline is «Building bridges through business».