HH Sheikh Mohammed: ‘Dubai can become world’s capital for Islamic finance’

Sheikh Mohammed emphasised the importance of the Islamic economy sector and the role it plays in the economic diversification.

“We have a clear vision for this vital sector and we want it to contribute significantly to our national economy and ton help bolster our position as the world’s capital for Islamic economy,” Sheikh Mohammed said.

Sheikh Mohammed further indicated that the UAE has what it takes to become a hub for Islamic finance which caters for about quarter of the world’s population with an estimated value of trillions of dollars.

“We have the infrastructure, the strategic location at the heart of the Islamic world and importantly, a vast knowledge and experience in Islamic economy, Islamic banking, Islamic Sukook and insurance, and we have, above all, the resolve and ambition to achieve our goals.” Sheikh Mohammed attended a presentation session organised by the committee which is chaired by Mohammed Abdullah Al Gergawi, Minister of State for Cabinet Affairs and Chairman of the Executive Office of Sheikh Mohammed bin Rashid Al Maktoum.

Al Gergawi asserted that the committee’s work is in progress and that all concerned entities are supporting their endeavours to achieve Sheikh Mohammed’s vision and Dubai Crown Prince HH Sheikh Hamdan bin Mohammed’s directives to position Dubai as a global capital of Islamic economy.

Sheikh Mohammed praised the efforts exerted by the committee and its teams, and stressed the importance of continuous work and concerted efforts in order to reach the desired objectives and expressing, as well, his keenness to support the committee.

HH Sheikh Mohammed: 'Dubai can become world's capital for Islamic finance'

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