IslamicFinance.de

Dubai has embarked on a three-year strategy to place itself firmly at the centre of the Islamic economy. The first steps in the seven-pillar plan, which includes 46 initiatives to be implemented within a three-year window – reduced from five – will be taken next year. The seven separate strategic directions are: finance; the halal food industry; family friendly tourism; the digital economy; fashion, arts and design; economic education; and standards and certification. Dubai has already launched plans to be a global centre for the issuance of sukuk to challenge the supremacy of sukuk centres such as London and Kuala Lumpur. Next month the emirate will host the first Global Islamic Economy Summit, organised by Dubai Chamber of Commerce and the international news and information group Thomson Reuters.