UAE- Islamic Economy Higher Committee tackles plans

Dubai ruler Sheikh Mohammed bin Rashid Al Maktoum.
Dubai ruler Sheikh Mohammed bin Rashid Al Maktoum.

(MENAFN – Khaleej Times) The initiative to transform Dubai into the world’s capital of the Islamic economy is progressing steadily with confidence towards the goals as scheduled, said Mohammed Abdullah Al Gergawi, Chairman of the Executive Office of His Highness Shaikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai; Chairman of Dubai’s Islamic Economy Higher Committee and UAE Minister for Cabinet Affairs.

“This is made possible by the joint efforts of the UAE’s different economic and essential sectors. The efforts are in line with the vision of His Highness Shaikh Mohammed bin Rashid Al Maktoum, and the directives of Shaikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Dubai Executive Council, to transform Dubai into the capital of Islamic economy,” he said in remarks following the committee’s third meeting, which he chaired.

During the meeting, the committee viewed the work of its major teams tasked with implementing the initiative. The meetings provide an opportunity to discuss the role of these sectors in the implementation of the initiative, he added.

“Through these periodical meetings, we make sure to view the latest developments relating to the initiative and its different tracks, building on the recommendations from the committee’s previous meetings and workshops. The committee was keen on involving all strategic partners and experts in these meetings and workshops so as to exchange views and ideas on the initiative, and reach a form of fruitful and constructive cooperation,” he said.

Dubai’s Islamic economy platform includes finance instruments, insurance, contracts arbitration, Islamic food industry and trade standards (halal food), and quality management standards.

The Islamic Economy Higher Committee’s members are Sami Al Qamzi, director-general of the Dubai Department of Economic Development; Abdul Aziz Al Ghurair, vice-chairman of the Dubai International Financial Centre’s Higher Board; Hussein Nasser Lootah, director-general of Dubai Municipality; Dr Hamad bin Al Sheikh Ahmed Al Shiebani, director-general of the Department of Islamic Affairs and Charity Work in Dubai; Abdul Rahman Saif Al Ghurair, chairman of the Dubai Chamber of Commerce and Industry; Hussein Dhaen Al Qamzi, chairman of Awqaf and Minors Affairs Foundation; and Essa Kazim, chairman of the Dubai Financial Market.