DIEDC's first 2018 board meeting approves initiatives for upcoming period

February 5, 2018
Dubai Islamic Economy Development Centre (DIEDC) convened its first board meeting for 2018, reviewing all the initiatives that had been implemented the previous year within the framework of DIEDC’s 2017-2021 strategy that seeks to realise the Dubai: Capital of Islamic Economy vision.

At the meeting chaired by HE Sultan bin Saeed Al Mansouri, Minister of Economy and Chairman of DIEDC, board members also approved in principle several initiatives to be executed in the upcoming four-year period, which would significantly contribute to achieving the Centre’s strategic objectives.

In his Chairman’s address, HE Sultan bin Saeed Al Mansouri said, “The trust of manufacturers and consumers in regulatory policies and standards is pivotal to the future of the global economy. The growing local and international trust in Dubai, and the wider UAE, promises greater progress in the domestic economy, especially in the Islamic economy domain.”

He further noted that the ambitious plans of the UAE government to contribute to the UN Sustainable Development Goals is not limited to accelerating the growth of local sectors, but spans a global vision to unify efforts across the world. He recommended that nations should collectively launch initiatives that improve the standards of living of their populations, and achieve the aspirations of the new generation to lead a more stable and equitable life.

During the meeting, Al Mansouri highlighted the momentum gained by the Dubai: Capital of Islamic Economy initiative since its launch in 2013, accelerated by DIEDC’s 2017-2021 strategy. He also commended the vision of HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, that anticipated the future of the global economy following the challenges brought on by the global financial crisis in 2008.

2018 Plan

“We aim to specify the Islamic economy sectors’ contribution to the national GDP through a comprehensive database that lists the contribution of individual sectors. This database will allow us to closely analyse each sector and its impact on the remainder of the sectors for accurately putting in place decision-making processes that achieve a balance in investments,” said Al Mansouri, sharing the strategic objectives of 2018.

DIEDC will also aim to raise public awareness of Islamic economy and build a solid knowledge base through intensifying collaborations with institutions that support the development of Islamic economy to shape academic curriculums and training programmes in the most prominent sectors, such as Islamic finance and Halal production.

'Today, the only guarantee to advance and grow the Islamic economy ecosystem is through securing our local knowledge capital. In the UAE this is being done by our youth that are hungry for information and seek suitable employment opportunities that can enable them to play a contributory role in the nation’s development process. The UAE has made great strides and surpassed more advanced countries by involving the youth in building the future. If we aim to sustain the growth of the Islamic economy ecosystem, we must invest in the skills of the youth to drive growth in its sectors,' Al Mansouri concluded.

cpifinancial