Hamdan bin Mohammed: Islamic economy is witnessing accelerated growth. Our plan is on track, and we are well geared to launch ambitious projects in the near future

Dubai-UAE: 20 April 2015

His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Dubai Crown Prince and Chairman of the Dubai Executive Council, today approved a series of initiatives proposed by the board of Dubai Islamic Economy Development Center (DIEDC) during a meeting headed by His Excellency Mohammad Al Gergawi, Chairman of the Executive Office of His Highness Sheikh Mohammed bin Rashid Al Maktoum.

The initiatives include the launch of the second Islamic Economy Index, as well as the third edition of the Islamic Economy Award, the second Global Islamic Economy Summit, and the release of the third State of Global Islamic Economy Report. As part of the activation plans for 2015, DIEDC will seek dynamic collaborations with international museums towards positioning Dubai as the capital of Islamic fashion, art and design.

Pointing out that the Islamic economy is witnessing accelerated growth across all sectors, His Highness Sheikh Hamdan bin Mohammed noted that Dubai is well geared to pioneer new and ambitious projects in the next few years to achieve its goal of becoming a capital of Islamic economy by 2021.

He said: "We have extensive experience, a clear roadmap, and strategic partners in the UAE and abroad. Everyone is working with concerted team spirit and a vision to accomplish our goal in developing Islamic economy globally, enhancing its products, and transforming the UAE into a global reference hub for all allied sectors."

His Excellency Mohammed Abdullah Al Gergawi, Chairman of the Executive Office of His Highness Sheikh Mohammed Bin Rashid Al Maktoum and Chairman of Dubai Islamic Economy Development Centre, said: "Dubai continues to strengthen its competitive edge in all sectors of the Islamic economy under the direction and continued follow up of His Highness Sheikh Hamdan. All indicators and numbers reviewed by the board show that we are on the right track towards achieving the vision of His Highness Sheikh Mohammed Bin Rashid Al Maktoum well ahead of 2021."

During the DIEDC board meeting that was attended by His Excellence Eissa Kazim, Secretary General, Abdullah Mohammed Al Awar, CEO, DIEDC provided a comprehensive presentation on the latest developments and activities of the centre. The board members discussed the Q1 activity report and reviewed the initiatives of Dubai Culture to support the strategy of Dubai Capital of Islamic Economy.

His Excellency Sami Al Qamzi, ‎Director General of Dubai Department of Economic Development, Deputy Chairman, DIEDC, said: "In recent decades, Dubai has been able to establish itself as a leading global hub for logistics and trade services and a preferred regional center for imports and exports. The increase demand on trade in Islamic merchandise and products confirms the sound path that Dubai has taken by providing appropriate legislative and logistic infrastructure to support global Halal products trade." 

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About Dubai Islamic Economy Development Centre
'Dubai Islamic Economy Development Centre (DIEDC) was established in December 2013 to transform Dubai into the 'Capital of Islamic Economy', as envisioned by His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai.

His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, supervises the efforts of the DIEDC and its Board to bolster Dubai's bid to become a global hub for the Islamic Economy, encompassing a wide array of sectors through harnessing the projected US$6.7 trillion Islamic economy market.

DIEDC is equipped with the financial, administrative and legal tools to promote economic activities compatible with Islamic law in Dubai's goods and financial services sector, as well as the non-financial sector. In this capacity, it will conduct research and specialist studies to determine the contribution of sharia-compliant activities to the emirate's gross domestic product, and explore how to extend this contribution to boost the economy. DIEDC is also mandated to create new products and lines of service to law firms specializing in finance structuring."

For more information please call:
Ghada El Khoury
APCO Worldwide
Tel: +971 4 375 5247
Mob: +971 55 804 5317
gelkhoury@apcoworldwide.com

© Press Release 2015