Dubai Islamic Economy Development Centre (DIEDC) held its third board meeting for 2019, chaired by His Excellency Sultan bin Saeed Al Mansouri, Minister of Economy and Chairman of DIEDC. The board members reviewed the progress of the DIEDC 2017-2020 Strategy, and discussed ways of aligning it with the priorities highlighted in the Letter of the New Season by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai.

His Excellency Sultan bin Saeed Al Mansouri noted that Dubai is consolidating its status as the global capital of Islamic economy through systematic updates of its strategies and action plans in line with the rapid developments in the Islamic economy and the wider global economy.

He said: “The Islamic economy is thriving, and in the UAE, we always seek to advance in leaps and bounds. This objective forms the foundation of the UAE’s vision, mission, and aspirations, and our economic institutions collectively endeavour to bring the country to the forefront.”

“What makes the UAE the most competitive country in the region and the one best prepared for the future, as His Highness Sheikh Mohammed bin Rashid Al Maktoum announced, is its courage to face facts, review calculations, and continuously adjust strategies. In line with this course of action, DIEDC conducts periodic reviews of its strategies to adapt them to the changing world.

“In 2017, following the completion of the three-year initial phase,  the Centre launched its updated strategy that aligned with the latest global economic developments, as well as the UAE leadership’s own strategy and local trends.

“In close collaboration with its strategic partners, DIEDC continues to implement its plans to establish Dubai as a global destination for entities active in the Islamic economy space. In this context, the Islamic Affairs and Charitable Activities Department is organising the fifth edition of the Islamic Economy Fiqh Forum that will take place in Dubai in November 2019. Furthermore, Dinar Standard plans to launch the updated version of Salaam Gateway this October in partnership with DIEDC.”

For his part, His Excellency Essa Kazim, Secretary General of DIEDC, said: “We are working with our strategic partners to build a unified global reference for Islamic economic sectors with the aim of paving the way for the next phase of growth. This, together with standardisation, is currently among DIEDC’s top priorities.”

His Excellency Essa Kazim noted that updating Salaam Gateway is a critical and strategic step in catering to the growth of the halal and Islamic finance sectors. He reiterated the important role of the development, revision, and enhancement of strategies, as well as continued compliance with the highest global standards in helping the Islamic economy reach its desired status.

Serving as a comprehensive global repository of information, news, and data on the Islamic economy, Salaam Gateway is one of the unique initiatives overseen by DIEDC. The online platform features a database of more than 10,000 international companies active in various sectors of the Islamic economy. Boasting thousands of registered users, it publishes relevant articles, research papers, and studies. The portal received more than one million visits in 2018, and enjoys considerable popularity in the MENA and Southeast Asia regions.

During the board meeting, Abdulla Mohammed Al Awar briefed members on the progress of the ‘Dubai: Capital of Islamic Economy’ initiative and proposed the budget for 2020. He also provided an overview of the latest developments related to the Islamic Economy Fiqh Forum, the Salaam Gateway update, and other initiatives launched by DIEDC in cooperation with its strategic partners. In closing, he confirmed that the Centre continues to review its plans to lead the expansion of the Islamic economy worldwide.