Dubai's Islamic economy plan engaging the world: Al Qemzi

Sami Al Qemzi, Director-General of the Department of Economic Development, Dubai, and Deputy CEO of Dubai Islamic Economy Development Centre DIEDC, said in a speech at the second edition of the Global Islamic Economy Summit (GIES) in Dubai yesterday (Monday), "Dubai has moved in just a few years from a research and preparation phase to one of global engagement with the Islamic economy, represented by its numerous ethically-based sectors.

"From halal products to Islamic banking and finance, this economy now represents a number of sectors that are receiving worldwide recognition and increasing demand.

"This rapid growth in the Islamic economy, both quantitatively and qualitatively, is evidence of a wise vision, precise timing, and a scientific approach.

“There is undoubtedly a great deal of work and effort remaining ahead of us, which we will approach with faith, knowledge and determination, guided by the experience we have acquired over the past few years."

Al Qemzi added, "Today, we look forward to global standards for Islamic products and services, and the provision of a stable and effective framework for the Islamic economy governed by appropriate legislative and regulatory organisations, and supported by studies, research, scientific knowledge and innovation.

“This pace of development will help meet the constantly evolving needs of markets, allowing this initiative to become a truly independent economy in and of itself, rather than merely being a subset of the broader global economy."

Over 2,000 policymakers, thinkers and business leaders gathered to take part in the two-day summit hosted by the Dubai Chamber, the Dubai Islamic Economy Development Centre (DIEDC), and Thomson Reuters.

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