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As the global hub of the Islamic economy, Dubai is well placed to lead the sector’s contributions to revitalising the regional and international economy in the post-COVID-19 phase, crown prince Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, said.
Islamic economy sectors contributed 41.8 billion dirhams ($11.38bln) to Dubai’s GDP in 2018, registering a growth of 2.2 per cent over the previous year, Sheikh Hamdan said.
The increased contribution of the Islamic economy to Dubai’s GDP is an organic outcome of Dubai’s expertise, advanced infrastructure, strategic geographical location, and its commitment to becoming the preferred investment destination for various Islamic economy sectors, he noted.
According to the crown prince, these results are testament to Dubai’s position as the global capital of Islamic economy, in line with the wider objectives of the 'Dubai: Capital of Islamic Economy' initiative.
He added that the increased contribution of the Islamic economy to Dubai’s GDP is an organic outcome of Dubai’s expertise, advanced infrastructure, strategic geographical location, and its commitment to becoming the preferred investment destination for various Islamic economy sectors.
Sheikh Hamdan pointed out that the recent accomplishments of the 'Dubai: Capital of Islamic Economy; initiative will encourage all the stakeholders of the Islamic economy to keep up their exemplary efforts.
He called on the strategic partners of the initiative to enhance awareness of the pivotal role that Dubai and the wider UAE are playing in innovative policy making to accelerate the performance of Islamic economic sectors, and of the practical solutions Islamic economy offers to global financial and economic challenges.
(Writing by Seban Scaria; editing by Anoop Menon)
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