The Dubai Islamic Economy Development Centre (DIEDC) rang the market-opening bell at Nasdaq Dubai's MarketSite on Sunday to mark the start of the second day of the Islamic Economy Week that coincided with the opening of the day's trading session.

Day two of included a session on international halal standards and schemes benchmarking for halal auditors, the unveiling of the State of the Global Islamic Economy Report 2018/19, a session on halal logistics in theory and practice and a workshop titled 'Islamic Fintech - Innovations in Sustainable Finance'.

Speaking on the Islamic Economy Week, Essa Kazim, governor of the DIFC, chairman of Borse Dubai and the Dubai Financial Market, and Secretary-General of DIEDC, said: "The inaugural Islamic Economy Week is a continuation of Dubai's efforts to promote the Islamic economy principles. Set to run from October 30 to 31 as part of the week's programme, the Global Islamic Economy Summit will strengthen the emirate's position as the global capital of Islamic economy."

Abdulla Al Awar, CEO of DIEDC, said: "The Islamic Economy Week aims to spotlight the most relevant topics on Islamic economy and stimulate discussions to identify innovative and ethical solutions to emerging global economic challenges."

He noted that the penetration of Shariah-compliant products and services is on the rise, with the value of global assets in the Islamic finance sector estimated at $2.4 trillion in 2017 and expected to surge to $3.8 trillion by 2023.

Abdul Wahed Al Fahim, chairman of Nasdaq Dubai, said: "The DIEDC will promote viable and effective Shariah-compliant alternatives to conventional solutions in our region and globally. The centre's dedication to expanding the Islamic economy in sectors ranging from trade to retail and hospitality to financial services is contributing to the creation of innovative and vibrant economic activity."

Hamed Ali, CEO of Nasdaq Dubai, said: "With growing activity across all areas of Islamic finance, including the largest listed sukuk value of any global centre at $59.7 billion from 72 listings, Dubai is making great strides in advancing the Islamic economy."

 

 

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