Dubai to be capital of Islamic economy

The Dubai Government is set to create a comprehensive platform of Islamic economy products and services, thereby strengthening its position as a global centre for Islamic economy. The initiative includes standardization and regulation of Islamic products, services and practices. Thus, Islamic economy will become stronger and independent from conventional and interest-based financial practices. As a regional business and trade centre, the UAE already has world class ‘hard’ infrastructure. According to Chief Economist of National Bank of Abu Dhabi Dr. Giyas Gokkent, now the ‘soft’ infrastructure will be added thanks to the initiative, this way encouraging and attracting Sharia compliant activity in various services and industries.

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