UAE: Islamic economic initiative aims at diversification
11 Jan 2013 05:26 GMT
 

Thursday, Jan 10, 2013

The initiative announced by His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Min (more)

Thursday, Jan 10, 2013

The initiative announced by His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, to turn the emirate into an Islamic economy hub builds on the strength of the emirate’s economy. It is a step that will enrich the economy as well as cultivate a field that has potential for growth.

Shaikh Mohammad said that the step will aim at setting up a modern and scientific framework for Islamic economies to meet investors’ demand. Such a plan will aim at catering to the needs of local, regional and international entities and parties involved in such a field. The new initiative will boost the economic diversification of Dubai and complement main areas of economic activities. “By strengthening Islamic economic principles as an integral part of our overall approach to growth and development, we are further supporting the entrepreneurial community, especially from the Arab world,” said Shaikh Mohammad. There is no question that Dubai offers a number of attractive tools that support businesses as it has always been at the forefront of innovation. Tapping into the market that is in line with Islamic economy is an opportunity that will open up various ventures - not only for the emirate but also for all those involved in such economic principles. Establishing the base for an Islamic economic hub will prove to be beneficial in the long-term for the local economy.

by Gulf News

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