WIEF TO IMPLEMENT FIVE PROPOSALS SOON

KUALA LUMPUR, May 21 (Bernama) -- The five specific proposals made at the
two-day 6th World Islamic Economic Forum (WIEF) will be implemented soon, said
WIEF Foundation general secretary, Ahmad Fuzi Abdul Razak.

He said the first proposal involved holding an 'Economic Summit' to focus on
practical ways in which Muslim countries could enhance their own economic growth
and development.

"The summit will also explore how Islamic banking and finance can contribute to
a more sustainable international financial system," he told a media briefing at
the conclusion of the forum here Thursday.

Ahmad Fuzi said the WIEF would evaluate the second proposal on 'Clean Energy
Development Bank' before its implementation.

"The threat of climate change to nations and the business opportunities in a
clean energy-related industries will be recognised and WIEF will advance this
important proposal," he said.

He said the third proposal, on the setting up of 'Social Entrepreneurship
Foundation', would involve evaluating models of private sector-led social
entrepreneurship, focusing on the special funding needs of small and medium
enterprises and other enterprises throughout the Muslim countries.

On the fourth proposal to set up creativity and innovation incubation centres,
he said WIEF would craft a pilot plan in collaboration with academic leaders and
institutions.

Ahmad Fuzi said on the 'Youth Corps' proposal, WIEF would initiate a pilot test
to develop practical plans to harnest the vibrancy of the youths and prepare
them for leadership role in future.

He said this year's forum was held against the backdrop of a world emerging from
a financial crisis.

"All investors and entrepreneurs met informally through WIEF's 'Business
Matchmaking Lounge' and five commercial agreements were signed.

"Experiences were shared and lessons learned from the experts at the forum," he
said.

Ahmad Fuzi said the participating countries also showcased trade and investment
opportunities in their countries.

The 7th WIEF Forum will be hosted by Kazakhstan in 2011.
-- BERNAMA



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