Al Mansoori Honours Global Islamic Business Award Winners

Press release
Published October 31st, 2018 - 12:41 GMT
The award ceremony was part of the second day of the Global Islamic Economy Summit 2018.
The award ceremony was part of the second day of the Global Islamic Economy Summit 2018.

His Excellency Sultan bin Saeed Al Mansoori, UAE Minister of Economy and Chairman of the Dubai Islamic Economy Development Centre (DIEDC), today honoured the winners of the 2018 Global Islamic Business Award, an initiative of the Global Islamic Business Excellence Centre at the Department of Economic Development (DED), Dubai. The award ceremony was part of the second day of the Global Islamic Economy Summit 2018, being held in Dubai under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President and Prime Minister and Ruler of Dubai, to discuss optimal deployment of modern technologies to promote Islamic economy and keep it abreast of global changes.

The award ceremony was also attended by His Excellency Ali Ibrahim, Deputy Director General of DED. The Islamic Development Bank won an Honuorary Award while National Bonds and Amlak Finance were the winners in the Financial Sector category. The General Services Department in Ras Al Khaimah (Public Sector), Al Jazeera International Catering (Private Sector) and Natural Wellness (Manufacturing Sector) were the winners in the other categories. The International Islamic Business Award went to Bosna Bank International.

Commenting on the Global Islamic Business Award, His Excellency Sami Al Qamzi, Director General of DED, said it has an important role in implementing the directives of HH Sheikh Mohammed bin Rashid Al Maktoum to make the emirate an Islamic economy capital and a global economic hub.

“The Department of Economic Development has developed an integrated strategy to contribute towards making Dubai an Islamic economy capital as envisioned by our leadership. Dubai Exports, the export promotion agency of DED, is actively promoting a Hub-to-Hub initiative to reinforce Dubai as a global hub for halal products, by linking exporters and importers, and focusing on international accreditation of such products,” Al Qamzi said.

Al-Qamzi stressed that the Islamic economy in Dubai is keeping abreast of the latest developments and is no longer limited to halal food or Islamic finance. He added that recently there has been a major shift towards Shari’a-compliant services and products, particularly in the pharmaceuticals, cosmetics, e-commerce, and digital content industries.

“The Global Islamic Business Award has attracted many Shari'a-compliant companies, and we are encouraged by the level of interest it has generated within the local and international business community, Accordingly, we have now opened award registration for companies outside the UAE too. The response we see from international participants reflect the importance of the award, and the efforts being exerted to highlight Islamic values across business,” added Al Qamzi.

Abdulla Mohammed Al Awar, CEO of DIEDC, highlighted the role of the Award in promoting Islamic economy among the business community worldwide and in recognising the efforts of companies across the Islamic economy sectors, which ultimately strengthens Dubai’s position as the global capital of Islamic economy as well as a regional and global reference point for entities interested in the ethical economic system.

“The high uptake of the Global Islamic Business Award reflects the great interest of companies in the Islamic economy, which is gaining popularity with every passing day.  DED opening registration to contenders from abroad will boost the number of applicants and it is already motivating companies from around the world to adopt Islamic principles in conducting business, reflecting the rising significance of the Islamic economy locally and internationally,” added Al Awar.

The Global Islamic Business Award includes various categories including manufacturing, hospitality, pharmaceutical industry, and government services addition to Islamic financial services DED has called on all government and private sector entities that support Islamic values across their activities and products to participate in the Award.

Background Information

Department of Economic Development

The Department of Economic Development (DED) is the government body entrusted to set and drive the economic agenda of the emirate of Dubai, UAE. The DED supports the structural transformation of Dubai into a diversified, innovative service-based economy that aims to improve the business environment and accelerate productivity growth.

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