Qualitative Addition to “Post-Oil Economy” Plan and Put Productive Sectors Forward
Image: DSC & DIEDC
Exporting the Model
Presenting an overview of DIEDC's strategic updates for the first quarter of 2018, Essa Kazim, Secretary General of DIEDC, said: "Most of the initiatives we have designed in collaboration with our strategic partners are well on track. The first quarter witnessed concerted efforts to establish Dubai as a global benchmark for innovation in the Islamic economy. Significant among these are the second edition of FinTech Hive and the launch of the Fiqh Forum, an international innovative platform for Islamic economy products, that represent pivotal steps in the development and globalization of Islamic economic standards."
Kazem pointed out: "DIEDC's most prominent achievements in the first quarter of 2018 were signing a number of cooperation agreements and MoUs that would export the model of "Dubai The Capital of Islamic Economy" to other countries looking to achieve sustainable financial stability and stimulate responsible investments in their markets to ensure achieving their development process consistent with the principles and standards that take into account the health and safety of human and environment as well as the society's safety and stability.
In an intervention in the International Forum of Halal Accreditation Organizations, Abdulla Mohammed Al Awar, Chief Executive Officer at DIEDC, said that the forum which seeks to consolidate accreditation practices among its members in order to reach a unified formula for multilateral recognition to facilitate the Halal trade among its members, did achieve an increase in the number of members to be 19 international organizations in 2017 compared to 10 organizations in 2016 and by the end of April 2018 the final number has gone higher to be 29 international organizations." He stressed: "This indicates that this initiative has been successful in attracting the markets featured by being the most productive of halal products with high export rates of Halal products worldwide at the top of which are UAS, Brazil, Argentina, Australia and New Zealand and markets with high spending on Halal products of the Organization of Islamic Cooperation, primarily Saudi Arabia, Egypt, Indonesia, Pakistan, Algeria, Morocco and Nigeria."
Al Awar concluded by pointing out that coordination is underway with the strategic partners of the initiative to attract more accreditation organizations in other countries and work to consolidate Halal standards globally.