The $2.1 trillion halal lifestyle market value and the $1.65 trillion assets under management are key drivers for Organisation of Islamic Co-operation (OIC) economic development, it has emerged.

Participants at the Global Islamic Investment Gateway (GIIG) seminar at the Dubai International Financial Centre (DIFC) yesterday (February 10) were told about investment opportunities in the growing Islamic markets, said a report in the Gulf Daily News (GDN), our sister publication.

The event was attended by more than 90 professionals from the DIFC community.

It was held ahead of the GIIG deal-making forum being held in Bahrain next month with the launch of a new sophisticated Investment Monitor portal.

The online portal collates opportunities and does a lot of the groundwork for investors by identifying viable projects that need capital.

Thomson Reuters global head of Islamic capital markets Dr Sayd Farook highlighted the escalating interest from international investors in the Islamic markets due to the large growing young population and the growth in OIC members' economies, which has reached $6.7 trillion in GDP in 2013.

He added that Kellogg's acquisition of Egyptian cake and biscuits marker - Bisco Misr, is just one of a series of transactions, which reflect the potential of this market.

The market is driven by factors such as the intra OIC trade and finance initiatives, the $2.1 trillion Halal lifestyle market and the $1.65 trillion assets under management in these markets.

The seminar also included a presentation by US-based DinarStandard, chief executive and managing director Rafiuddin Shikoh, who called for a new thinking on investment in the growing Islamic economies, which needs another view beyond the headlines of falling oil prices.

Shikoh said that OIC markets has a rich set of breakthrough businesses driven by youthful populations and strong long-term dynamics of Islamic economies globally.

Islamic Corporation for the Development of the Private Sector (ICD) chief executive Khaled Al Aboodi said it is working to develop private sector of OIC markets through providing advisory and consultancy services.

It is also providing Sharia-compliant finance to develop small and medium enterprises which will result in creating more employment opportunities and economic development.

ICD provided gross financing of $3 billion allocated to more than 300 projects across 25 countries over its 15 years of operation. - TradeArabia News Service