Pragmatic approach required to ‘Globalize Islamic Economy’- Dr. Tabassum Khan

Globalization is not just a process of interaction among people but more importantly it is an integration of the thought processes among the people of different origins, races and religions. This has a direct impact on international trade and relations, multi-national companies and consumers in different countries. Globalization of brands has eliminated geographical borders and everywhere people have adopted them as their own brands. The product brand globalization is a relatively easier task, but the globalization of concepts is tougher unless it is backed by logic, science and the impact it has on the well being of people. Islamic economy has grown over years but could be selflimiting based on the general perception that it caters only to the Muslim consumers. It is time to adopt a pragmatic approach to do away with the dilemma of self-limitation. “Stratgurus Consulting, Dubai, wants to be a contributor in this endeavor to Globalize Islamic Economy”, said Dr. Tabassum Khan, President of Stratgurus. This is the right time to embark on to the task of creating working groups comprising of subject matter experts covering all segments of Islamic economy. The role of the working groups would not only be preparing recommendations but more importantly to create awareness and develop a global campaign changing mindsets. The communities have to realize and understand that Islamic economy, although based on Islamic injunctions, yet can cater to the needs of people of all creeds and religions. This campaign would be a primary springboard to develop an ecosystem where each segment of the Islamic economy is compared to the conventional one on the scientific, commercial and economic basis. Dr. Khan is certain that this would enable to move the Islamic economy from a niche segment in the global market to a competitive one where the target consumers would go beyond the Muslim communities. This would also be an important step forward in dispelling the impression that Islamic economy is based on a rigid mindset. It should rather promote the idea that it is based on logic, science and caters directly to the welfare of the people. Moreover, it will demarginalize the Muslim communities present across the globe and that’s when the term globalization will find its true meaning. Dr. Tabassum Khan was rated as one of the top 50 leaders in the field of Islamic Economy by ISFIN Dr. Khan is author of two books ‘Global Market Potential for Halal Vaccines’ and ‘Halal Bioeconomy: Developing Bioeconomy in the Islamic World’ Dr. Khan speaks at international forums on Rationale for Islamic Economy, Halal Healthcare, Bioeconomy, Food security, Food wastage and on community centric outcomes of all economic initiatives