Sunday, Jan 27, 2013
The Department of Economic Development in Dubai (DED) is developing the Islamic-compliant standard to classify or categorise the registered businesses in Dubai, Mohammad Al Shael, CEO of Business Registration & Licensing Sector at DED, told Gulf News.
“The department is developing an official standard for Islamic-complaint companies as part of the required infrastructure to make Dubai the world’s Islamic-complaint economic capital.”
While Dubai has almost of 300,000 registered companies, Al Shael added that it will be left to the business owners to re-categorise their companies as either traditional of Islamic companies. “However, all new companies will be subject to one of these choices at the time of registration.”
He also remarked that the department will designate a special team to monitor if these Islamic business are abiding by the rules and regulations.
“This legal framework will enhance trust in Dubai Islamic products,” he added
By Zaher Bitar Senior Reporter
Gulf News 2013. All rights reserved.
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