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Three Economic Entities Collaborate To Transform Makkah And Madinah Into Centers Of Islamic Commerce

Three Economic Entities Collaborate To Transform Makkah And Madinah Into Centers Of Islamic Commerce

Three commerce chambers are working together to make Makkah and Madinah the centers of Islamic commerce. Islamic Chamber of Commerce, Industry, & Agriculture (ICCIA), Makkah Chamber of Commerce, and the Madinah Chamber of Commerce and Industry will sign the tripartite partnership agreement on Wednesday. This will be done in front of representatives from fifty-seven member states of the Organization of Islamic Cooperation.

The head of the Makkah Chamber of Commerce’s board of directors, Abdullah Saleh Kamel, said that the goal of the agreement is to help both holy cities by investing in them and planning global events together. Kamel also said that the business sectors in the holy cities would benefit from the partnership because it would host a number of forums, workshops, exhibitions, and dialogues with decision-makers from the Islamic world.

The head of Madinah’s Chamber of Commerce, Munir Mohammed Nasser, said that the agreement fits with the goals of Saudi Vision 2030. Saudi Vision 2030 wants to highlight the role of the two holy cities in fostering Islamic values and encouraging social and economic development.

The 3 Entities Behind The Centers of Islamic Commerce

The Makkah Chamber is a great example of how to help businesses and communities grow. The goal of the Makkah Chamber is to make Makkah Al-Mukarramah a better place to live. It hopes to do this by offering great services and using the private sector’s potential to bring in investment. It will do this by using cutting-edge technologies and hiring qualified nationals to work there. Makkah Al-Mukarramah wants to be a center for business and commerce in general. It wants to be home to a thriving Mecca community, be financially stable, and be a model of institutional excellence.

In Madina, Saudi Arabia, the Madina Chamber of Commerce and Industry is in charge of the thriving business community. The Chamber of Commerce and Industry takes necessary steps to help the community. For example, it shares information about production and human resource development and works with local groups to make the area better. Also, it strives to make the Al-Madinah Al-industrial Monawarah district a model for the rest of the Kingdom. This will be done by becoming a reliable partner for businesspeople and associates, improving the quality of services offered to them, and providing them with funding.

The Organization of Islamic Cooperation includes the Islamic Chamber of Commerce, Industry, and Agriculture (OIC). In the 57 Islamic countries, it is the only group that speaks for the private sector. Its goal is to make it easier for Member countries to work together on trade, business, IT, insurance/reinsurance, shipping, banking, promoting investment opportunities, and joint ventures. Its members are the countries’ National Chambers, Unions, or Federations of Chambers of Commerce and Industry.

Takeaways

Abdullah Saleh Kamel stated that they want to set up a strong network of international relationships to help different partners continue to be successful. They also want to set up permanent international tools to help promote all partnership results around the world. He went on to say that the partnership will give a big boost to the two holy cities and business sectors through a number of tracks. These include exhibitions, forums, and dialogues with decision-makers from the Islamic world. Also, it extends to research, training, and visits by business delegations.

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