President Mohamed Nasheed this morning addressed at the 6th World Islamic Economic Forum (WIEF) being held in Kuala Lumpur from 18 – 20 May. The speech was focused on Islam’s relation with commerce and government’s economic policies.
President Nasheed said Muslim people had a strong culture of commerce, and that across the Muslim world today, there were new signs of greater investment and prosperity.
“Some people belittle Muslims and Islam – they like to portray Muslims as backward and impoverished people. But the evidence points to the contrary,” the President said.
Speaking on the relations between Islam and commerce, President Nasheed said “it was through trade and commerce that Islam was introduced to many parts of the world”, especially to Central and South East Asia, China and sub-Saharan Africa. He also added that “it was through this early process of globalisation, that Islam was introduced to the then Buddhist Maldives”.
In his speech, the President also discussed the economic reforms taking place in the Maldives.
Describing free market as “the most efficient and effective mechanism to deliver goods and services” the President said his administration had prioritised privatisation, public-private-partnerships and attracting investments.
The WIEF is an annual event which brings together world leaders and business leaders from the Muslim and non Muslim world to meet and network in the name of business.
The 6th WIEF with the theme “Gearing for Economic Resurgence” will be looking at the role of Islamic banking and finance in paving the way for a more stable global financial system.
