AIFC, World Islamic Economic Forum Foundation Sign Agreement

ASTANA. KAZINFORM - Astana International Financial Centre (AIFC) and World Islamic Economic Forum (WIEF) Foundation have signed an agreement today whereby the 14th WIEF will be held on 4 July 2018 within the framework of AIFC international presentation in Astana, Kazakhstan, Kazinform has learnt from the AIFC's press service. The annual World Islamic Economic Forum was founded by WIEF Foundation in 2006 with the support of the Government of Malaysia. WIEF is a world-class business platform showcasing business opportunities in the Muslim world. The Forum seeks to promote cooperation between Muslim entrepreneurs, companies, and governments in member states of the Organization of the Islamic Conference. Following the 2017 Islamic Finance Development Report by Thomson Reuters, the Islamic finance industry will continue to flourish and is predicted to reach USD 3.8 trillion by 2022, from USD 2.2 trillion at the end of 2016. Considering this fact, Islamic finance as one of the key pillars of AIFC activities can be a potential source of foreign investment in the Republic of Kazakhstan. The hosting of the 14th WIEF in Astana will assist the establishment of AIFC as a regional hub of Islamic finance for CIS, Western and Central Asian countries and will ensure the promotion of AIFC activities in the OIC countries' business community. The 14th WIEF expects to attract over a thousand attendees and role players from all over the world.