The Board of Directors of "Dubai for the Development of Islamic Economy" reviews the plan and initiatives for 2021

Al Mansoori: The UAE is qualified to lead the next stage of the growth of the global Islamic economy

The Board of Directors of the Dubai Center for the Development of Islamic Economy held its first meeting for the year 2021. From the source

The Chairman of the Board of Directors of the Dubai Center for the Development of Islamic Economy, Sultan bin Saeed Al Mansouri, said that the UAE is qualified to lead the next phase of the growth of the global Islamic economy.

The center’s board of directors reviewed during its first meeting for the year 2021 the initiatives that the center is working to launch and implement during the current year, and the 2021 plan, with the aim of establishing Dubai’s position as the capital of the Islamic economy.

The Council affirmed that the Islamic economy has the ability to move forward as a safe haven from crises, thanks to its moral pillars based on achieving comprehensive development, as it provides a more just and transparent economic system that achieves the required balance in the process of wealth production and distribution.

A march of achievements

In detail, the Chairman of the Board of Directors of the Dubai Center for the Development of Islamic Economy, Sultan bin Saeed Al Mansouri, confirmed that the Islamic economy sector has witnessed during the past four years a march full of achievements in light of the “Dubai Strategy as the Capital of the Islamic Economy 2017-2021” implemented by the Center in cooperation with its strategic partners. Reflected positively on the successive increase in the contribution of the Islamic economy to the total output of Dubai and the UAE during this period.

Al-Mansoori said during his presidency of the first meeting of the Board of Directors of the Dubai Center for the Development of Islamic Economy for the year 2021, that the UAE’s consolidation over the past years of its position as a global destination for the Islamic economy in all its vital sectors qualifies it to lead the next phase of the growth of the Islamic economy globally, through cooperation and partnership with various countries of the world. And governmental and private institutions interested in the sector, with the aim of resuming sustainable economic development paths after the decline of the exceptional circumstances that the world is currently experiencing due to the Coronavirus pandemic.

Entrepreneurial position

Al Mansoori affirmed that the global leadership position achieved by the UAE and Dubai, especially in the sectors of the Islamic economy, would not have been achieved without the support, care and foresight of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, who launched the Islamic Economy Initiative in 2013. As a firm pillar of a solid economy based on the concept of sustainable growth, and being a fairer and more transparent economic system that achieves the required balance in the process of producing and distributing wealth, as well as supporting the noble goals of comprehensive and long-term development, which are in line with the principles and ethics of the Islamic economy that achieves sustainable growth, considering The Islamic economy is a system in which morals are in harmony with creativity at work and a high commitment to the goals of real development to give its results the size of the hopes and aspirations of all peoples of the earth, regardless of the different arenas or factors and circumstances.

He pointed out that the Islamic economy is one of the most important non-oil sectors on which the national economy currently depends, and therefore its contribution to the gross domestic product is increasing, as a translation of the vision of the state's leadership.

Achieving the targets

For his part, the Secretary-General of the Dubai Center for the Development of Islamic Economy, Issa Kazim, affirmed that the implementation plans of the Dubai Strategy, the Capital of the Islamic Economy, continue to achieve their goals thanks to close cooperation and teamwork between the Dubai Center for the Development of Islamic Economy and the strategic partners from the government and private sectors involved in implementing this strategy. This reflected positively on the sector in general, not only on its level of contribution to the total output, but also on its ability to attract more international partners wishing to take advantage of the growing investment opportunities provided by the sectors of the Islamic economy.

A safe haven

He added that the Dubai Initiative as the Capital of the Islamic Economy continues to take confident steps towards achieving its goals, by launching more initiatives and implementation plans during the year 2021 with strategic partners, stressing that the UAE and Dubai will continue to consolidate their global position, as a destination for all those interested in this sector, which is gaining new ground every day. With the expansion of global interest in it, through the holding of the fifth session of the "World Islamic Economic Summit", whose activities will be hosted by the "Expo 2020 Dubai", and it will be an exceptional session that suits the size of the economic challenges that the world is currently witnessing.

Kazem pointed out that the Islamic economy has the ability to move forward as a safe haven from crises, as it provides a more just and transparent economic system that achieves the required balance in the process of wealth production and distribution, and supports the directions of the UAE and Dubai committed to the lofty goals of comprehensive and long-term development, which intersect with the principles of And the ethics of Islamic economics.

Initiatives and plan

During the meeting of the Board of Directors, the Executive Director of the Dubai Center for the Development of Islamic Economy, Abdullah Muhammad Al Awar, presented the developments of the "Dubai Strategy as the Capital of the Islamic Economy" and the 2021 plan, and the initiatives planned to be launched during 2021, with the aim of establishing Dubai's position as the capital of the Islamic economy, as well as the state of progress in the implementation of strategic initiatives. He affirmed that the Islamic economy has proven to be a safe haven against the current global economic challenges thanks to its ethical pillars based on achieving comprehensive development.

World Summit

The Executive Director of the Dubai Center for the Development of Islamic Economy, Abdullah Muhammad Al Awar, presented a summary to the Board of Directors on the latest developments in the implementation of the "Global Regulatory Framework for Islamic Finance" initiative, which aims to strengthen the Islamic finance system at the global level through the legalization of Islamic financial transactions.

He also presented progress in the preparations for the "World Islamic Economic Summit" planned for the first and second of November 2021, within the activities of "Expo 2020 Dubai", indicating that minds and ideas will converge to reshape the global economic and trade scene, and the Islamic economy will have a pivotal role in bringing about this. Positive shift globally.

• The Islamic economy is a safe haven from crises thanks to its moral pillars.

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