The sixth Islamic Economy Award (IEA) ceremony will take place on the sidelines of the fourth Global Islamic Economy Summit (GIES 2018), running on October 30 and 31 in Dubai, UAE.

Organised by Dubai Chamber of Commerce and Industry (Dubai Chamber) and Dubai Islamic Economy Development Centre (DIEDC), and strategically supported by Thomson Reuters, GIES will take place at Madinat Jumeirah.

The annual award is independently managed by Thomson Reuters, and it highlights the most innovative initiatives that drive economic development in line with the core principles of the Islamic economy – responsibility, sustainability and positive impact on society.

Sultan bin Saeed Al Mansouri, Minister of Economy and chairman of DIEDC, said: “With the rise of protectionist measures in several economic zones around the world, the UAE is positioning itself today as a global hub for innovative ideas originating not only from international corporations but also from entrepreneurs and small and medium-sized enterprises.”

“The emirate’s smart infrastructure, enhanced by its digital transformation and artificial intelligence applications, and supported by a comprehensive legal and regulatory framework that stimulates investment and ensures transparency, gives it a distinct competitive edge.
“In this context, the recent announcement by the UAE Cabinet bringing into effect a new visa system for international investors and outstanding experts in vital economic sectors reflects the country's keenness to attract the best talent from across the globe,” he added.

Majid Saif Al Ghurair, chairman of Dubai Chamber and DIEDC board member, said: “The efforts of various institutions and other key players to highlight the positive results achieved by the Islamic economy contribute to expanding its footprint and enhancing its outcomes. With its focus on development, openness, tolerance, sustainability, innovation and happiness, Dubai provides an ideal base for honouring the pioneers of the Islamic economic arena.”

Abdulla Mohammed Al Awar, CEO of DIEDC, said: "Dubai continues to consolidate its position as the capital of the Islamic economy through supporting innovators and entrepreneurs that contribute to a diversified, sustainable and innovative economy, and celebrate their achievements. In doing so, it has strengthened the UAE's position among the top 10 countries in the IMD World Competitiveness Ranking 2018 for economic competitiveness and attracting foreign direct investment.”

He added: “We look forward to the influx of nominations for the sixth edition of the annual Islamic Economy Award that aligns with our government's efforts to promote the Islamic economy and recognise projects that are consistent with its values.”

Registration is open until 25 July across eight categories:

1.    Money and Finance– Islamic banking, takaful and sukuk issuance
2.    Food and Health – food and health products and services, pharmaceuticals and cosmetics
3.    Media– mass and social media, entertainment, mobile applications and publishing
4.    Hospitality and Tourism –family and medical tourism facilities and services, meetings, incentives, conferences and exhibitions (MICE), and Hajj and Umrah trips
5.    Waqf and Endowments–government-led, private and cross-border endowments
6.    SME Development – technology, incubation, training, infrastructure and SME ecosystem development
7.    Islamic Economy Knowledge Infrastructure–education, research, compliance and standardisation, thought leadership and authorship
8.    Islamic Art -fine arts, performing arts and design

In addition, the Lifetime Achievement Award honours a prominent achiever who has been a leader and inspiration to others, and has ensured a significant positive impact on the Islamic economy.

The Islamic Economy Award is open to all candidates, local and international, who meet the criteria. – TradeArabia News Service