The seven pillars of Dubai's Islamic banking

Published October 8th, 2013 - 01:12 GMT
These areas of strategy focus are supported by 46 initiatives which will be in place by the first quarter of 2014 or maximum by the fourth quarter of 2014.
These areas of strategy focus are supported by 46 initiatives which will be in place by the first quarter of 2014 or maximum by the fourth quarter of 2014.

Dubai’s strategy to be the capital of the Islamic Economy in three years was launched on Saturday and is based on seven pillars.

These pillars include the establishment of Dubai as an international centre for Islamic finance, Halal industries, Halal tourism, the Islamic digital economy, the capital of Islamic art and design, a centre for Islamic economy standards and certification, and international centre for Islamic information and education.

These areas of strategy focus are supported by 46 initiatives which will be in place by the first quarter of 2014 or maximum by the fourth quarter of 2014.

Many of these initiatives have launched already, such as the Dubai Global Sukuk Centre, the Dubai Centre for Islamic Finance, the Global Islamic Economy Summit and Islamic Economy Award, according to Mohammad Al Gergawi, Chairman of the Committee of Islamic Economy and Minister of Cabinet Affairs. The remaining initiatives will be launched over the next three years.


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