ICCIA Projects

During the 35th General Assembly of the Islamic Chamber of Commerce held recently in Cairo, Sheikh Saleh Kamel announced the launch of the holding company of the Islamic chamber to be its investment arm. As the Islamic Chamber is the official representative of the private sector, this doubles the responsibility of reviving the investment in the member countries, Presidency of the Islamic chamber assured. As a result, the investment committee has decided to create a holding company through the Waqf Company that aims at launching specialized projects that have several subsidiaries that would allow the interested member chambers to contribute.
The General Secretariat team has reviewed two major projects to be prepared (from the four approved projects by the investment committee) which are Halal Company and Company for establishment and management of the Cross Border Centers.
In this context, the investment committee declared that this holding company is a real revival of the Waqf model on a global level. In addition, that works alongside with one of the Islamic Chamber’s objectives that emphasizes the importance of the Waqf model and its revival. However, there are many Waqf companies in several Islamic countries; most of them do not have cross border developmental roles. In addition, most of these companies support real estate investments and have very limited developing outcomes. He also stressed that the Islamic Chamber’s Waqf will have an investing impact on all the Islamic countries. This is the reason why we are working hard to present a successful model of the Islamic Chamber’s Waqf that aims at serving our members, facilitating many economic fields and providing significant services that do not exist in our member countries.
Mr. Yousef Hassan Khalawi, ICCIA Secretary General appointed that the international holding company is owned by the Islamic Chamber and will have developing projects through subsidiary companies that encourage investors to invest in.
Secretary General assured that the investment committee directions are strategic. They aim at serving the member states and encourage the whole investment process in OIC countries. We affirm that the company will not compete with business owners but will search for new fields in order to motivate business owners to participate in.
ICCIA Secretary General clarified that this Waqf has been studied for a long time and was launched in accordance to a certain vision that aims at making it an integrated model for Waqf projects and addressing the major challenges we face in our world.
For more information about the Islamic chamber and its upcoming projects, contact our Media and Communications Department on  news@iccia.com

About ICCIA:

The Islamic Chamber of Commerce, Industry and Agriculture is an international organization affiliated to the Organization of Islamic Cooperation (OIC). It represents the private sector of 57 Member Islamic Countries as well as observer members and other members of Muslim minorities. It aims at strengthening closer collaboration in the field of trade, commerce, information technology, promotion of investment opportunities and joint ventures in the Member countries. Its membership is comprised of the National Chambers / Unions / Federations of Chambers of Commerce and Industry of the OIC member countries The Islamic Chamber of Commerce, Industry & Agriculture (ICCIA) was established upon the resolution of the Seventh Islamic Conference of Foreign Ministers held in May 1976 in Istanbul-Turkey, which was approved by the First Conference of the Chambers of Commerce and Industry held in October 1977 in Istanbul. The Second Conference of Chambers of Commerce and Industry held in December 1978 in Karachi adopted its constitution – Its Headquarters is located in Karachi, the economic capital of the Republic of Pakistan