Malta could be bridge to Muslim communities across Europe

There are a number of Muslim communities in Europe which require Islamic products and services – ranging from food and financial products to tourism – which Malta could tap, according to Middle East expert Ahmed Al Banna.

Mr Al Banna was the keynote speaker at the launch of the Middle East Business Council (MEBC) – a Malta Chamber of Commerce, Enterprise and Industry initiative – at SmartCity Malta.

Speaking to Times of Malta Business, he said that this was a niche that was often overlooked, saying Malta was well positioned to be a bridge between the communities in Europe and the Middle East.

“A few months ago, Dubai announced that it was the capital of the Islamic economy, tackling virgin sectors from industry to halal products, from financial instruments to Islamic tourism. Maltese businessmen could certainly play a role in providing some of these products and services,” he said.

Mr Al Banna has known Malta for some time. In 2002, he had opened the Malta Trade Centre in Dubai and he is a long-time friend of Malta’s consul in Dubai, Anthony Tabone, who is now the CEO of SmartCity Malta.

However, he is also aware that Malta needs to promote itself more in the region, as it is currently best known as a tourist destination, in spite of large investments such as SmartCity and Go, whose majority shareholder is Emirates International Telecommunications.

“There are many other opportunities for joint ventures either here in Malta or in Dubai,” he said, pointing out that there are daily Emirates flights to Dubai.

The challenge for the MEBC is that it covers a large geographical area – and with limited resources, it might be best to focus on specific cities. Dubai is an obvious contender for this role, but there are others like Beirut, King Abdullah Economic City in Saudi Arabia, and Masdar in Abu Dhabi, he said.

“Masdar is the first 100 per cent green city, and it is doing a lot of work in many different parts of Europe. I think this is a sector which could be looked into,” he said.

During his speech, Mr Al Banna gave a number of tips on doing business in the Arab world, stressing that it was based much more on personal relationships.

“The word of honour in our culture is sometimes more important than having a notarised agreement. The greeting is also key: Stand up and shake hands when you greet someone.

“Another aspect which is very important is punctuality.

“Although a lot of countries in the Arab world have diverted from this – perhaps in North Africa – in the Gulf and Middle East, punctuality is usually very important.”