OIC, UN Development Programme partner to enhance Islamic social finance and humanitarian action

The General Secretariat of the Organization of Islamic Cooperation (OIC), represented by its Department of Humanitarian Affairs, in cooperation with the United Nations Development Programme (UNDP), has concluded a roundtable on Islamic Philanthropy: Zakat, Sadaqah, and Waqf for Early Recovery, Inclusion, and Sustainable Development in Riyadh. 

The event discussed the role of Islamic social finance in strengthening humanitarian response, supporting socioeconomic recovery, and achieving sustainable development for the most vulnerable populations and communities. 

The roundtable highlighted new and innovative frameworks for cooperation between the OIC, UNDP, and the International Islamic Fiqh Academy, focusing on building institutional partnerships, exchanging knowledge and successful experiences, and developing initiatives targeting vulnerable communities. 

Representing the General Secretariat at the meeting and the signing ceremony for the accompanying cooperation agreements, Dr Aisha Al-Ayafi, Director of Humanitarian Affairs at the Organization of Islamic Cooperation, emphasised the importance of developing Islamic charitable tools. 

She explained that zakat, sadaqah, and waqf are fundamental pillars for enhancing resilience and achieving sustainable development, and that deepening institutional partnerships will contribute to maximising the impact of these tools for the benefit of the most vulnerable groups. 

The OIC also reaffirmed its ongoing commitment to expanding cooperation with international and regional partners to solidify the role of Islamic social finance as a key driver of recovery, development, and the preservation of human dignity in all member states.

OIC launches training on cultural diplomacy, leadership development

A training course on Youth, Cultural Diplomacy, and Leadership Development began 3 September, 2026, at the headquarters of the General Secretariat of the Organization of Islamic Cooperation (OIC) in Jeddah.

The course was organised by the OIC General Secretariat and is chaired by the Ministry of Sports of the Kingdom of Saudi Arabia, which holds the presidency of the Islamic Conference of Youth and Sports Ministers (ICYSM). The event coincided with OIC Youth Day, which the OIC celebrates annually on September 3.

The Secretary-General of the OIC, Ismail Ould Cheikh Ahmed, affirmed that youth currently constitute more than 28% of the population of OIC member states, noting that this percentage is expected to reach 30.7% by 2030. The speech, delivered on his behalf by the Assistant Secretary-General for Humanitarian, Cultural, and Social Affairs, Ambassador Tariq Ali Bakheet, stated that Youth Cultural Diplomacy is not an intellectual luxury but rather a practical tool for developing young people’s capacity to build bridges, promote dialogue, counter misguided ideologies and violent extremism, and disseminate the values of tolerance and moderation.

The speech further explained that among the most important objectives of the training programme are training and enhancing the capabilities of young people in cultural diplomacy and leadership development, providing them with an opportunity to discuss issues related to youth empowerment, and familiarising them with the OIC’s efforts in this field.

Streamlining the OIC

Source: IRCICA. Fruitful discussions on reforming the OIC.

The Organization of Islamic Cooperation (OIC) Research Center for Islamic History, Art and Culture (IRCICA) has reported on the 1st Brainstorming Session on the Comprehensive Reform of the OIC, held in Jeddah, KSA in October 2018.

In his opening remarks, HE Dr Yousef Al-Othaimeen, Secretary General of the OIC, emphasised the need to reconsider critical issues such as the position of subsidiary, specialised and affiliated institutions; implementation of consensus in decision-making; chairmanship of the Islamic Summit; arrears in country contributions; policy coordination between member states, General Secretariat and relevant organs; as well as the role of permanent committees and regional offices.

Professor Dr Sadık Ünay, Consultant to IRCICA Director General, spoke during two brainstorming sessions. He stressed the need to keep the organisational responsibilities related with ministerial meetings under the remit of the General Secretariat. He indicated that most ministerial conferences are organised by the General Secretariat except the conference of Culture Ministers, creating a double standard and causing confusion among the subsidiary and specialised institutions.

SMIIC adopts new guidelines for occupational safety and health

General Guidelines on Occupational Safety and Health (OSH) has been adopted by the Standards and Metrology Institute for the Islamic Countries (SMIIC) as the OIC/SMIIC 5 standard.

Voting on the adoption of General Guidelines on OSH as an OIC/SMIIC standard was completed on 7 April 2017 by SMIIC member states, and accumulated enough votes to be adopted as an OIC/SMIIC 5 standard.

The approved final draft of the standard was prepared by the OIC Network for Occupational Safety and Health (OIC-OSHNET) and the relevant studies for standardisation were taken by SMIIC upon request of the labour ministers of OIC Member States during the 3rd Islamic Conference on Labour Ministers (ICLM) which was held in Jakarta in 2015.

OIC, IsDB launch Islamic microfinance initiative in Indonesia

The Organisation of Islamic Cooperation (OIC) and IsDB Group have launched the Islamic Microfinance for Poverty Alleviation and Capacity Transfer (IMPACT) Program in Bogor, Indonesia, in mid-May 2016.

The programme provides a platform for experts to share and deepen their understanding of the Islamic microfinance models and to create tools and infrastructure to disseminate best practices.
The programme was launched during the Seminar on Islamic Microfinance for Poverty Alleviation in OIC Member Countries hosted by Bogor Agricultural University.

Islamic microfinance institutions (IMIs) differ from conventional microfinance institutions as they do not charge interest and work on a profit- and risk-sharing basis. Their relationship with the client is thus not based on a traditional creditor-debtor relationship. The central premise of IMIs is that social networks among partners have value. The social capital resources inherent in social relations help facilitate collective action for a common purpose.

IMIs engage and treat their clients as business partners. As a business partner, they add value in the relationship and provide ‘smart finance’. This allows IMIs to create sustainable jobs even in difficult and fragile situations. “Islamic microfinance is about economic empowerment of the poor,” said Anas El Hasnaoui, CEO of IBF International Consulting, a Brussels-based organisation that works on development aid projects financed by international organisations. Hasnaoui explained how the Bank of Khartoum in Sudan invested US$4 million in venture capital in the Abu Halima Greenhouses Project. The initiative provided low-income graduates and their families, 600 people in all, with smart finance products to enable them to work in the modern agricultural sector.

“IMIs treat their clients as business partners, not as debtors,” said Nasser Faqih, Team Leader of the Deprived Families Economic Empowerment Program (DEEP) in Palestine. He compared how two women with similar small sewing businesses were treated after they were hospitalised. One had borrowed under the Islamic microfinance window while the other borrowed from the conventional window of the same monetary financial institution (MFI).

When the woman who borrowed from the Islamic microfinance window was hospitalised, the MFI hired a replacement and ensured her business continued to run while she recuperated. Her payment schedule to the bank was frozen until she returned to work. The woman who borrowed from the conventional window was required to continue making her payments, and interest compounded as the payments were delayed. After some time, when it was clear that she would not be able to make her payments, the MFI took her to court.

The innovations in Islamic microfinance and its ability to generate employment and alleviate poverty through trading and investing with their clients makes it possible for microfinance institution to do business with poor people. However, such good practices are not well known and expertise and experience gained from innovative pilots are scattered in various countries.

The IMPACT Program was created in response to a call from the President of IsDB for experts in Islamic finance to take advantage of existing technologies and business approaches and develop smart Islamic microfinance. The programme will promote Islamic microfinance in a way that puts poor clients' needs at the centre, providing an enabling environment and tools for microfinance institutions to do business with and help them thrive. Financing provided will therefore help poor clients find their way out of poverty, instead of perpetuating the cycle of poverty through debt.

The five pillars of the IMPACT Program are:

Technology: To develop a one-stop portal on Islamic microfinance that provides all the necessary knowledge and tools needed for a microfinance institution to understand and implement Islamic microfinance. Knowledge generated from various pillars will be disseminated through the portal. The information portal will also include key applications that will be useful for IMIs.

Operations: To develop an operational toolkit that includes standard operating procedures, policies, contractual document templates, feasibility study templates and other operational documents. The toolkit will be developed for MFIs that are already operating but are interested in implementing Islamic microfinance, highlighting what they need to do to be shari'ah-compliant as well as lay out an incremental approach that will develop their capacity to engage in the value chain through practical
methods.
Monitoring and evaluation: To develop a monitoring and evaluation framework, including a rating system combining areas of financial sustainability, governance, social performance. In addition, the framework will highlight approaches on how to determine the impact of the MFI on its beneficiaries through measuring its value-add to its client through its engagement in the value-chain. The framework will be summarised in a logical framework with key indicators for each project stakeholder.

Policies and standards: To identify and promote key policies and standards (including accounting and governance standards) that facilitate the growth of Islamic microfinance. This will include a framework for Islamic microfinance law highlighting key policy requirements needed to facilitate the industry, simplified accounting standards for MFIs as well as governance structures for various organisation structures such as cooperatives, companies, funds and NGOs.

Advocacy: To develop and promote Islamic microfinance in IsDB member countries and beyond by building awareness, exchanging experiences and reverse linkages through collaboration among different stakeholders, including governments, regulators, private sector, practitioners, networks, developmental organisations and financial institutions.

Implementation arrangements: The programme will be implemented by stakeholder teams identified under each pillar. OIC General Secretariat and IsDB Group will identify key experts to participate in each team. Additional experts may be engaged when required. Experts/stakeholders may be engaged through partnership or consultancy agreements. All five pillar teams will constitute the Program Management Team (PMT) that will be led by Senior Specialists from IsDB Group and OIC General Secretariat who will report to the Leadership Committee on the progress of the IMPACT Program.

Challenges for OIC tourism discussed in 2015 report

Source: SESRIC.

SESRIC has launched International Tourism in the OIC Countries: Prospects and Challenges 2015 during the 9th Session of Islamic Conference of Tourism Ministers (ICTM), which was held in Niamey-Niger between 21 and 23 December 2015.

Overall, the report sheds light on the challenges of tourism development in the OIC member countries and the issue of tourism cooperation among them, listing some recommendations as policy guidelines.The report examines the performance and economic role of international tourism sector in the OIC member countries in the latest five-year period for which the data are available. The report analyses the two traditionally used indicators in measuring international tourism, i.e. international tourist arrivals and international tourism receipts. Moreover, the report provides detailed analysis on the state of the intra-OIC tourism.

Islamic tourism has a great potential for sustainable growth and significant contribution to the development of the overall tourism sector in the OIC member countries, as is reflected by a special section in the 2015 report. 

Finally, the 2015 version of the report of SESRIC discusses in details the potential role of the public-private partnership (PPP) modality for the development of the tourism sector in the OIC member countries.

At the event, SESRIC also contributed to the selection of the next OIC Capital City of Tourism by providing detailed scoring results to the selection committee on the nominee cities. According to the results of the selection committee, the Ministerial Session adopted Madina al-Munawarra in KSA and Tabriz in Iran as the OIC Capital City of Tourism for 2017 and 2018, respectively. Jerusalem was picked in 2014 as the OIC Capital City of Tourism for 2016. 

Interested?

View the OIC Tourism Report 2015 online in English, Arabic, or French (PDF)

Possible hoax site for the 15th Exhibition for members of the OIC

Source: Exhibition website.

The site http://islamicexpo-sa.com/, about the 15th Exhibition for members of the Organisation of Islamic Cooperation (OIC), is said to be organised by the Islamic Centre for Development of Trade (ICDT), and to take place at the Riyadh Convention and Exhibition Centre in KSA from 22 to 26 May 2016.

The exhibition is said to be held concurrently with the 17th Private Sector Meeting for the OIC Member States in Riyadh from 22 to 23 May 2016, with the theme Unleash the Opportunities in Textile & Garments Industry in OIC Member States; also with the 15th Trade Fair of the OIC Countries and the 8th Forum for Businesswomen in Islamic Countries, which is also from 22 to 23 May.

The only problem is that the 17th Private Sector Meeting for the OIC Member States has already been held in Riyadh from 8 to 9 November 2015. There is a registration form for the same dates for download at a separate site. The 8th Forum for Businesswomen in Islamic Countries appears to have been held in Kampala, Uganda from 26 to 29 October 2015 - there is also a Facebook post about the event with the October dates from the Islamic Chamber of Commerce, Industry & Agriculture (ICCIA), organiser of the Forum.


The 15th Trade Fair of The OIC Member States does however seem to be slated for May 2016 in Riyadh but there is no link to the event on the OIC site.

Given the discrepancies in dates and the likelihood that anyone can copy and paste information from an existing event site into another and accept payment to register, it is best to check with the stated organisers - not the ones on the suspect site - to verify if the event is indeed genuine before paying. 

Islamic Growth Markets Investment Report 2015 leverages 10 connected sectors in a US$6.7 trillion GDP opportunity

The Islamic Growth Markets Investment Report 2015 presents a new perspective of investment opportunities across the 57 OIC member countries.

Focused on fast growing consumer driven sector clusters of food, retail, tourism, health and others, as well as government spending-driven infrastructure and construction, the Report looks at investment opportunities across the full geographic spectrum of the Organization of Islamic Cooperation (OIC) growth markets and their global value chain.

The OIC represents a GDP in 2013 of US$6.7 trillion and is projected to grow from 2015 to 2019 at a higher rate (5.4%) than rest of the world (3.6%) or of the BRIC nations (3.9%.).

Malaysia, Indonesia, and UAE lead the inaugural 2015 Islamic Growth Markets Investment Index which ranks countries' investment potential relatively within the OIC member country grouping. GCC economies led by UAE are also on the top ten list including Qatar and Saudi Arabia. Other markets on the top 10 include Kazakhstan, and Turkey.

The Index is based on a set of nine metrics covering the categories of a country’s growth fundamentals, growth momentum, investment momentum and relative country risk. Indonesia shows the strongest growth fundamentals among the top three as it has the largest population (249 million, 2013) and GDP (US$870 billion, current US$, 2013), while Malaysia has the strongest growth and investment momentum (217% foreign direct investment inflows growth from 2009 to 2013).

DinarStandard’s OIC Industry Clusters Model has prioritized 10 sector clusters within OIC countries that provide best opportunities for sector based investment strategy. The top OIC sector clusters identified are: energy, food & agriculture, electronics, travel & transportation, metals, chemical & allied, plastics/rubber, textiles & related, infrastructure & construction, and health products & services.
Across each of the prioritised sector groupings, areas of competencies from different OIC markets across the value chain present unique investment/growth opportunities.

Interested?

Download the free report

Animal welfare comes to the fore at Certifiers Forum

The Organisation of Islamic Cooperation (OIC) countries should take a lead role in addressing animal welfare issues relating to halal standards, it was suggested in one of the discussions at the Certifiers Forum during the World Halal Summit (WHS) 2015 on 1 April.

The suggestion was put forward in response to recent reports on animal cruelty in halal slaughterhouses which have drawn criticism from both animal rights groups and the public.

“Muslim countries must set an example on animal handling as according to the tenets in Islam. The OIC should do a global PR campaign to highlight that Islam requires animal welfare to start at farming,” said Halal Food Authority UK chief executive Saqib Mohammed during a panel discussion at the WHS.

In closing remarks for the event Euro Quality Lambs UK Executive Director Rizvan Khalid pointed that while it may be challenging to reach a consensus agreement to reach a unified Halal standard, he suggested that a line be clearly drawn to emphasise on what is deemed haram.

“Accreditation bodies could distinguish properly on what is halal and haram but with a higher manifestation on halal according to sunnah, like using a sharp knife to slaughter, treat animal with kindness, not allowing the animals to watch each other being slaughtered and so on,” he said.

Theological director SANHA, South Africa Moulana Navlakhi highlighted that is one of current dilemmas is that what is halal in Malaysia might be only makruh (disapproved) in Indonesia but haram in Brunei due to different agreements on animal stunning.

Under the halal code, animals are to be raised and treated well. They should not see the knife or even witness the death of other animal before they are slaughtered. The animals are also supposed to be killed quickly with a single sweep of a sharp knife through the jugular vein.

The method of killing animal is often attacked by animal rights activists as barbaric. Muslims justify that the slaughtering method as advocated by the religion is designed to reduce the pain and distress of the animal. Experts say that the animal killed in this way does not suffer if the cut is made quickly and cleanly enough, because it loses consciousness before the brain can perceive any pain.

Source: WHS website.

Muslims are only allowed to eat meat that has been killed according to shari'ah law.

A member of the audience from Australia added during the Certifiers Forum that the main challenge for the country is also to minimise concern raised by animal rights groups by conducting education and awareness campaigns. Australian companies export halal goods to countries in the Middle East, Indonesia, Malaysia, Brunei, and Singapore.

posted from Bloggeroid

Jerusalem affirmed as a tourist destination

The Council of the International Islamic Fiqh Academy (IIFA) of the Organization of Islamic Cooperation (OIC) issued a resolution on visiting Al-Quds* confirming that the "shari’ah (legal) ruling is that this visit is mandoob (recommended) and desirable."


Resolution 216 (12/22) titled Visiting Al-Quds: Objectives and Shar’i Rulings was adopted by the 22nd session of the IFFA Council, held in Kuwait from 22 to 25 March 2015.

The Council explained that after balancing the pros and cons of visiting Al-Quds, it concluded that the evaluation of the interests is up to the rulers and politicians in Muslim countries. The IFFA Council highlighted the need to remind all Muslims that the issue of Al-Quds is that of the entire Ummah and that all Muslims  should support Al-Quds, the Maqdisites and the people of Palestine. It also noted that Al-Quds Ash-Sharif does not only belong the Palestinians alone, but to all Muslims.

In OIC Secretary General, Iyad Ameen Madani's speech at the opening of the IIFA Twenty-Second Session, he pointed out that visiting Al-Quds Ash-Sharif and the Al-Aqsa Mosque to know more about the city and to communicate with its people would confirm to the world that Muslims have a right to the place.

*Al Quds is the Arabic name for Jerusalem and Maqdisites are the people of Al Quds.

Look to Malaysia, Indonesia and UAE as growth markets for 2015: DinarStandard

The Islamic Growth Markets Investment Report 2015, published by DinarStandard, a new way of looking at investment opportunities across the 57 Organization of Islamic Cooperation (OIC) member countries. OIC member countries, representing a GDP in 2013 of US$6.7 trillion, are projected to grow 2015-19 at a higher rate (5.4%) than rest of the world (3.6%) or compared to BRIC nations (3.9%), DinarStandard has revealed. 

The Islamic Growth Markets Investment Report 2015 presents 10 fast-growing consumer driven sector clusters such as food, retail, tourism, and health as well as government-driven expenditure on infrastructure and construction as candidates for investment and discusses their potential in the context of the full geographic spectrum of the growth markets and their global value chain. 

The report lists Malaysia, Indonesia, and UAE as the leaders in the inaugural 2015 Islamic Growth Markets Investment Index which ranks investment potential within the OIC member country grouping. The Index is based on a set of nine metrics covering the categories of a country’s growth fundamentals, growth momentum, investment momentum and relative country risk.

Indonesia has the strongest growth fundamentals among the top three. It has the highest population (249 million, 2013) and GDP (US$870 billion, current US$, 2013), while Malaysia has the strongest growth and investment momentum (217% FDI inflows growth 2009-13). GCC economies led by the UAE are also on the top ten list which also includes Qatar and Saudi Arabia. Other markets on the top 10 include Kazakhstan and Turkey.

DinarStandard’s OIC Industry Clusters Model has prioritised 10 sector clusters within OIC countries that provide best opportunities for sector based investment strategy. The top OIC sector clusters are: energy, food & agriculture, electronics, travel & transportation, Metals, chemical & allied, plastics/rubber, textiles & related, Infrastructure & construction, and Health products & Services. Across each of the sector groupings, areas of competencies from different OIC markets across the value chain present unique investmen and growth opportunities.

Click here to download the report. 

Malaysia, Singapore in top 10 lists for Muslim-friendly destinations

Malaysia has been named the no. 1 destination across the globe for the Muslim travel market, according to the MasterCard-CrescentRating Global Muslim Travel Index (GMTI) 2015. 

Signage in Legoland, Malaysia.

Malaysia topped the list Organisation of Islamic Cooperation (OIC) destinations, followed by Turkey, UAE, Saudi Arabia and Qatar. Saudi Arabia saw the highest number of Muslim arrivals into the country in 2014 with 10.2 million followed by Turkey at 8.1 million. Singapore came first for non-OIC destinations, followed by Thailand, UK, South Africa and France.

The GMTI looks at in-depth data covering 100 destinations, creating an overall index. The study also revealed that in 2014, this segment was worth US$145 billion with 108 million Muslim travellers representing 10% of the entire travel economy. By 2020, there will be 150 million Muslim tourists making up 11% of the market, valued at US$200 billion.

“The MasterCard-CrescentRating Global Muslim Travel Index has today set a real precedent for the tourism industry,” said Fazal Bahardeen, CEO of CrescentRating and HalalTrip. “Not only is it the most in-depth research that we have undertaken so far on the fast-growing Muslim travel market, but has provided all stakeholders with some invaluable insight into how the halal-friendly tourism sector is growing and developing from a global perspective.

“CrescentRating has seen a recent huge shift towards more destinations targeting this sector like Japan and Taiwan, and it is a trend we expect to continue.” 

“We are pleased to partner with CrescentRating to develop the Global Muslim Travel Index as we see it as an extension of our efforts in giving consumers peace of mind when travelling and using our payment products. Travel continues to be a core passion for consumers and we are confident the GMTI will prove to be a trusted resource for this important, fast-growing traveller segment,” said Matthew Driver, President, Southeast Asia, MasterCard.

All 100 destinations in the GMTI were scored against weighted criteria which included suitability as a family holiday destination, the level of services and facilities provided, accommodation options, marketing initiatives as well as visitor arrivals. Malaysia had an index score of 83.8, followed by Turkey at 73.8 and UAE at 72.1.

GMTI40, which will be updated quarterly around the year, will track the average score of the top 20 OIC and non-OIC destinations and will form the key index to monitor the performance of the Muslim travel segment.

The overall average score for 40 countries (GMTI40) currently stands at 56 while the overall average GMTI score for the complete 100 destinations is at 43.8. From a regional perspective, Asia Pacific destinations lead with an average GMTI score of 54.

The Top 10 OIC destinations of GMTI 2015

	Overall Rank		GMTI 2015  Rank		Destination		Score
	1		1		Malaysia		83.8
	2		2		Turkey		73.8
	3		3		UAE		72.1
	4		4		Saudi Arabia		71.3
	5		5		Qatar		68.2
	6		6		Indonesia		67.5
	7		7		Oman		66.7
	8		8		Jordan		66.4
	9		10		Morocco		64.4
	10		11		Brunei		64.3

The Top 10 non-OIC destinations of GMTI 2015

	Overall Rank		GMTI 2015 Rank		Destination		Score
	1		9		Singapore		65.1
	2		20		Thailand		59.2
	3		25		United Kingdom		55.0
	4		30		South Africa		51.1
	5		31		France		48.2
	6		32		Belgium		47.5
	7		33		Hong Kong		47.5
	8		34		US		47.3
	9		35		Spain		46.5
	10		36		Taiwan		46.2

The year before, the top Muslim-friendly OIC destinations were Malaysia, UAE, Turkey, Indonesia, Saudi Arabia, Morocco, Jordan, Qatar, Tunisia and Egypt in that order. Tunisia and Egypt are no longer in the top 10, having been replaced by Oman and Brunei.

The top 2013 Muslim-friendly non-OIC destinations were Singapore, South Africa, Thailand, United Kingdom, Bosnia & Herzegovina, India, Hong Kong, Germany, Australia and Tanzania in that order. France, Belgium, the US, Spain and Taiwan have replaced Bosnia & Herzegovina, India, Germany, Australia and Tanzania. While Japan is on neither list, the country has been working hard on welcoming the Muslim dollar.

Read the report here.     

Global Islamic Investment Gateway to bring Islamic opportunities to investors this March

A new event aimed at generating business in the Islamic finance sector has been introduced by the Islamic Development Bank (IDB) in conjunction with Thomson Reuters and supported by the Bahrain Economic Development Board (EDB).

The Global Islamic Investment Gateway was launched last month and aims to bring investors and cross-border Islamic investment opportunities in some of the world's fastest growing economies together. Decision makers from investment banks, sovereign wealth funds, investment companies and family offices of high net worth individuals are expected to attend.

The Global Islamic Investment Gateway is organised by Thomson Reuters and the IDB, through its Business Forum THIQAH. It will be held at the Gulf Hotel in Manama, Bahrain on March 2 and 3 under the patronage of His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince, First Deputy Prime Minister and Chairman of the EDB, and His Excellency Dr Ahmad Mohamed Ali Al Madani, President of IDB Group.

It will be supported by an online portal which will collate international investment opportunities. The organisers are already collaborating with investment development agencies and investment originators in Islamic markets to obtain, review and standardise investment opportunities across sectors.

Organisation of Islamic Cooperation (OIC) markets are projected to grow at an average of 5.4% till 2019, significantly higher than the rest of the world (3.6%) and the high growth BRICS markets (3.9%). This increased economic growth is accompanied by a greater maturity in their financial markets, enabling greater involvement of private capital in their development.

His Excellency Dr Al Madani said: "The OIC economies are at the heart of the world's most rapid economic growth and Islamic finance provides an excellent chance to connect capital to exciting opportunities in these markets. This event can play an important role in making that process happen."

His Excellency Kamal bin Ahmed, Minister of Transportation and Telecommunications and Acting Chief Executive of Bahrain EDB said: "We are very proud to support this event in Bahrain. We are committed to the development of the international Islamic finance sector and event such as this, which will enable real investment in viable projects, can play a great role in the process."

Dr Sayd Farook, Global Head of Islamic Capital Markets, Thomson Reuters, said: "The Global Islamic Investment Gateway will be the premier event for any investor looking for access to opportunities in emerging and frontier Islamic markets. These markets have the value chains that have the potential to provide excellent returns for the capital in the GCC and this event will give investors the means to access them."

Hasan Al Jabri, Chief Executive Officer, SEDCO Capital said: "Other events have focussed on the intellectual issues around Islamic investment which are important but Global Islamic Investment Gateway is very focussed on linking real investors with real opportunities and facilitating actual business and we are very excited to be involved."

The event will feature over 30 OIC countries, split into the key regional sectors including GCC, MENA, CIS, Southeast Asia, South Asia, West Africa and Sub-Saharan Africa and will cover all major investment sectors, driven by the opportunities presented by the investment development agencies and investment originators.

Individuals can register their interest here. 

OIC Infographics Series emphasises potential of OIC countries

In a joint attempt to give the data users the ability to instantly grasp a statistical theme, SESRIC and Fajr Capital have joined forces to launch the Organisation of Islamic Cooperation (OIC) Infographics series.

Infographics combine text and graphical visualisations of complex information such as graphs, maps or diagrams to make messages and trends clearer. 

The series includes infographics on trade & investment, science & technology, Islamic finance, education, demography, and agriculture, with a focus on the potentials of OIC countries.

The series can be viewed here.

OIC, IDB announce urgent financial aid for countries at risk of Ebola epidemics

Donors to the joint Conference of the Organization of Islamic Cooperation (OIC) and the Islamic Development Bank (IDB), held in Jeddah, Saudi Arabia, have announced an urgent financial aid package to countries suffering from the threat of Ebola epidemics. In addition to the financial pledges, the assistance also includes material resources, equipment and supplies, as well as trained heath workers and an associated workforce.

The IDB announced two agreements of US$45 million signed with the Government of Guinea which consists of two aid packages, a of US$10 million to fight poverty, and US$34 million to support health programmes, including US$6 million to fight Ebola. HE Ahmad Mohamed Ali, President of the IDB, and HE Ambassador Mohamed Shareef, Ambassador of Guinea to the Kingdom of Saudi Arabia, signed the two agreements on the sidelines of the conference.

The IDB also announced at the conference a grant of US$10 million as seed money for mobilisation of additional resources from NGOs and philanthropists to support efforts to fight Ebola virus disease (EVD). The Saudi Fund for Development on its part contributed US$30 million for Donka Hospital in Guinea.

In their welcoming remarks at the opening session of the Conference, the Secretary General of the OIC, Iyad Ameen Madani and the President of the IDB, Dr Ahmad Mohamed Ali, conveyed their sympathy with and support for the peoples and governments of the affected countries and recounted the efforts exerted by the OIC and the IDB since the start of the EVD outbreak earlier this year.

The organisations, institutions and individuals who attended the conference expressed their readiness to provide financial and technical assistance to advance the health systems and structures in the affected countries.

The conference reiterated the need for effective, coordinated and speedy response to the EVD epidemic. It also noted the necessity of community mobilisation, creating public awareness and educating people in dealing with situations resulting from this epidemic.

A large number of philanthropist organisations and individuals, NGOs and representatives of World Health Organization (WHO) and Medecins Sans Frontieres (MSF) attended the conference, which was chaired by the Deputy Health Minister of Kingdom of Saudi Arabia, HE Dr Mansour Nasser Alhowasi.

In addition to high-level delegations from the two EVD-affected states, Sierra Leone and Guinea, the Minister of health of Turkey and Uganda, the Deputy Minister of Health of Malaysia, advisors to the health ministers of Senegal and Cote d’Ivoire, and high-level delegations from OIC member states also participated in the conference. Representatives of the Office of the US President’s Special Envoy to the OIC and the Centre for Disease Control (CDC) attended.

As a part of OIC’s efforts to mobilise support for Ebola-affected countries, a meeting of OIC member states was held in Geneva on 29 September 2014. The meeting was chaired by the honourable Minister of Health of Indonesia, and attended by the WHO Director General Dr Margaret Chan. The Resource Mobilization Conference in Jeddah was held as a follow-up to the Geneva meeting.

The assistance package announced during the conference is in line with the priorities and objectives outlined in the WHO Ebola response roadmap, and takes into account the latest assessment of the situation provided during the meeting by representatives of the affected countries, WHO, MSF and other organisations and NGOs which have been actively involved on the ground in the fight against EVD.

OIC benchmarking study identifies areas that could improve economies

The fifty-seven countries that form the Organization for Islamic Cooperation (OIC) account for 23% of the world's population, but under 11% of the world's GDP. These results, part of a benchmarking study from the University of Toronto's Rotman School of Management and the Saudi Arabia-based Madinah Institute for Leadership and Entrepreneurship (MILE), were revealed on June 24. 

The study aims to better understand the factors which underlie the economic performance of the world's Muslim economies. Working with a group of Rotman MBA students including Abhishek Chaudhary, MBA'14; Omer Saleem Morning MBA'15; and Ash Zare, Evening MBA'15, Professor Walid Hejazi from the Rotman School and Imran Zawwar from MILE benchmarked the fifty-seven OIC countries on over 100 indicators, finding that countries such as the UAE, Bahrain, and Qatar rank among the world's best economies on many dimensions, and Malaysia and Turkey on others. In countries with significant poverty, there are also significantly higher probabilities of self-employment.

Researchers also found that the OIC countries:

• have average incomes which are less than half the world average;
• rank below global averages on institutional development, including voice and accountability, political stability, government effectiveness, regulatory quality, rule of law and control of corruption (World Bank Governance Indicators);
• rank unfavourably on the ease of doing business;
• lag world averages on literacy and education, particularly among females;
• while not lagging world averages on labour market participation rates for males, there is a significant gap for females; and,
• lag other developing nations on R&D efforts.

"Together these factors are capable of explaining a large part of the gap between incomes in the Muslim world and the developed world. The implications of these analyses underscore the need for efforts to improve these indicators across the Muslim world," says Prof. Hejazi. 

"We hope our systematic and comprehensive analysis will allow for the creation of well-informed and feasible policies to enhance the economic performance of the world's Muslim countries. As is well known, as incomes rise and countries develop, institutions tend to improve, resulting in improvements in political stability, human rights and a whole host of other indicators."

The study is the first from a collaboration between MILE and Rotman. More reports are planned for release over the next year. 

Halal Middle East Exhibition & Congress to be held December in Sharjah

The third Organisation of Islamic Cooperation (OIC) Halal Middle East Exhibition & Congress, from 8 to 10 December at Expo Centre Sharjah, is the only exhibition of its kind in the region. This year, the event will be adding halal pharmaceuticals, halal services, halal ingredients and halal finance to its scope. 

Source: Halal Middle East website.

The Halal Congress Middle East, jointly organised by Expo Centre Sharjah and the Halal Development Council of Pakistan, is an international gathering for food producers, exporters and importers, dealers and distributors and industry stalwarts to share up-to-date information on halal products; discuss issues facing the industry; explore opportunities that exist is each others’ markets; evaluate compliance, certification and standards; and look out for investment and joint venture opportunities in the UAE.

Global attention is on the UAE as the Emirates Authority for Standardization and Metrology (ESMA) is working on unified standards for halal food and cosmetics, which, once approved by the OIC, will be introduced in all Islamic countries in the near future.

The global halal industry is also keenly watching the developments in the Gulf Cooperation Council (GCC), which had announced that they are considering making it mandatory for all meat imported into the region to carry a halal stamp.

A set of guidelines for halal certification bodies in the UAE is also in the works, apart from a unified code for halal products that is valid for the whole of GCC.

MIHAS set to be part of the largest gathering of global halal players worldwide

Malaysia remains as the focal point for 26 nations including 12 OIC member countries at the upcoming MIHAS 2014. The congregation, scheduled to be held from 9 – 12 April at the Kuala Lumpur Convention Centre, KLCC is the largest gathering of global halal industry players worldwide.

Source: MIHAS website

Datuk Dr. Wong Lai Sum, CEO of Malaysia External Trade Development Corporation (MATRADE), is confident that it is business as usual for MIHAS this year.

“For the past 10 years, MIHAS has built a strong brand name both locally and internationally as the premiere sourcing centre for halal products and services. With strong support from the government, private sectors, SMEs and foreign governments, MIHAS will continue to stay ahead in the halal industry. The presence of Chinese business delegates from China Islamic Association, Guangdong Chamber of Commerce, National Congress of Women in China, and various other organisations at MIHAS reflect that the halal industry will continue to remain resilient in the future.”

Niqman Rafaee, the Malaysian Trade Commissioner based in Bangkok, said that Thailand had put in its largest representation so far: “The Thai pavilion with a total of 36 booths and more than 50 reps will be led by Southern Border Provinces Administrative Center (SBPAC), National Food Institute (NFI) and Ministry of Foreign Affairs (MFA) with cooperation of Central of Islamic Council of Thailand (CICOT), Halal Standard Of Thailand and also Halal Science Center Of Chulalongkorn University. Other (participants) in the pavilion include Royal Thai Embassy KL, Rajamangala University of Technology, The Office of SME promotion and 24 delegates." 

Over the years, Malaysia has made a name for itself in the halal industry with successful programmes, events, training, standards and certifications systems that have established the country as a knowledge centre and thought leader in the global halal industry.

In 2013, MIHAS hosted over 500 export-ready companies from 30 countries. 18,223 trade and business visitors from 65 countries attended its showcase of halal products and services, including pharmaceuticals, cosmetics, healthcare as well as Islamic investment and banking. 

MIHAS 2014 is projecting some RM500 million in sales from about RM411 million sales received last year due to a better outlook in the global economy, a higher demand for halal products and services and more booths available this year.
 
On average, every MIHAS attracts an estimated 500 foreign buyers. With an Incoming Buying Mission (IBM) scheduled for MIHAS 2014, exhibitors can expect to meet international buyers across the world.

MIHAS 2014 is part of World Halal Week, which consists of two major events - Malaysia International Halal Showcase (MIHAS) and World Halal Conference, organised by the Malaysia External Trade Development Corporation (MATRADE) and the Halal Industry Development Corporation (HDC) respectively under the auspices of the Ministry of International Trade and Industry.  

Saudi Arabia, Thailand, South Africa, Taiwan, South Korea are among the participating governments which support Malaysia’s efforts to promote the halal sector.  Other participating countries are Indonesia, China, South Africa, Iran, Palestine, Italy, Japan, UAE, Belgium, Brunei, Russia, Tunisia, Turkey, Morocco, Australia, Chile, France, Pakistan, Bangladesh, Netherlands and Spain.

Crescentrating names top 10 halal friendly holiday destinations for 2014

For 2014, Malaysia, UAE and Turkey are the top three most halal friendly destinations which are Organization of Islamic Cooperation (OIC) members, while Singapore, South Africa and Thailand lead for the non-OIC category, says Crescentrating, a Singapore-based company that comments on halal travel. Both Malaysia and Singapore also topped the list the year before.

Crescentrating's fourth Ranking of Halal Friendly Holiday Destinations covers 60 destinations, against 50 the year before. The ranking is based on suitability as a family holiday destination, the level of services and facilities it provides for Muslim travellers and the marketing initiatives of the destination targeting this segment as the main criteria.
   
The company notes that the Muslim travel market was estimated to be worth US$140 billion in 2013, representing almost 13% of global travel expenditure, and commented that Indonesia has moved up to 4th position as a result of initiatives launched in the past 12 months to focus on the Muslim travel segment. 

"Japan has made the most improvement among the 60 destinations tracked. Japan released a travel guide for Muslim travellers last year. Recently some of the airports in Japan have also taken steps to improve their services by offering halal food and prayer rooms," said the company in a statement. 

	Top 10 Halal Friendly Destinations 2014 (OIC Destinations)	Top 10 Halal Friendly Destinations 2014 (non-OIC Destinations)
1	Malaysia	Singapore
2	United Arab Emirates	South Africa
3	Turkey	Thailand
4	Indonesia	United Kingdom
5	Saudi Arabia	Bosnia & Herzegovina
6	Morocco	India
7	Jordan	Hong Kong
8	Qatar	Germany
9	Tunisia	Australia
10	Egypt	Tanzania

An in-depth look at the rankings of all 60 destinations is available here.

Japan's Yokohama's tourism initatives targeted at Muslims are blogged here.