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Box 4.5: DIEDC Strategies to Position Dubai as the Capital of the Islamic Economy
Strategic Objective of Dubai the Capital of Islamic Economy
Islamic Economy Strategy (2013-2016)
Key objectives:
To develop an
enabling and
empowering
environment,
including the
necessary
infrastructure and
legislative as well as
regulatory
framework to
support the growth
of the Islamic
economy via 7
strategic pillars.
Key Strategies for Pillar 1:
 Work with both public and private sector partners to establish Dubai as one of
the international financial centres that will be a global reference and economic
engine of Islamic finance.
 Reach out within the Middle East and beyond to build the international bridges
essential for the global success of Islamic finance.
 Work with the Islamic finance industry to develop the regulatory framework
that will enable the sector to flourish and become a global alternative to
conventional finance.
Key Milestones for Pillar 1:
 Establishment of various institutions, including:
- Dubai Centre for Islamic Banking and Finance (DCIBF)
- AWQAF International Organisation
- Incubator for Islamic digital SMEs
 Organising annual events dedicated to the Islamic economy and finance:
- Global Islamic Economy Summit Islamic Economy Award