The Hamdan bin Mohammed Smart University, HBMSU, announced the completion of preparations for the launch of the China-UAE Conference on Islamic Banking and Finance, CUCIBF III, for the third consecutive year under the theme, ‘The potential for participative economy and financial system: growth, development, integration, and cooperation.’ The conference, set to take place on 7th and 8th November 2018, aims to strengthen knowledge, civilisational, cultural and economic exchanges with China. The event is a major milestone in the consolidation of efforts to support Islamic financing between the UAE and China, highlighting shared interest of both parties to employ Islamic economy model to achieve the objectives of the ‘One Belt, One Road’ initiative in resuscitating the global economy and direct it to serve comprehensive and sustainable development.
The conference is the result of cooperation between the Ministry of Economy of the UAE; HBMSU’s Dubai Center for Islamic Banking and Finance; Dubai Islamic Economy Development Centre; China Islamic Finance Club; ZhiShang Inter-culture Communication; and Thomson Reuters as a knowledge partner.
CUCIBF III will be a great step towards the realisation of the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, the Vice President, Prime Minister and Ruler of Dubai, to establish Dubai as the global capital of Islamic economy.
The conference is also a reflection to the directives of H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Chairman of Dubai Executive Council and General Supervisor of ‘Dubai The Capital of the Islamic Economy’ strategy, who recently launched the Islamic Economic Week to promote effective dialogue on alternatives to promote the growth and sustainability of the Islamic economy.
Dubai’s position as a key and influential player on the global economy map complements the Islamic economy system, which is expected to grow eight per cent annually to reach US$3 trillion by 2023.
The agenda of the conference will include in-depth discussions on ways to enhance financial and economic integration; strengthening of historical and economic ties between China and the markets of South and East Asia and the Middle East; as well as the prospects of investment in Islamic finance, which serve the strong economic ties between the UAE and China.