UAE
Dubai Airport Freezone Authority
International Center of Islamic Economy
Sheikh Mohammad Al Maktoum
Islamic economy
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Tuesday 15 Sep 2015 - 09:59 Makkah mean time-2-12-1436
(Image from Al Press)
Dubai, (IINA) - As part of its commitment to drive the national economy's development , the Dubai Airport Freezone Authority (DAFZA) recently signed a strategic Memorandum of Understanding (MoU) with the International Center of Islamic Economy (ICIE), according to Al-Press (The GCC Business News Agency).
The MoU aims to strengthen their mutual cooperation and make valuable of contributions in support of the initiative launched by Sheikh Mohammad bin Rashid Al Maktoum, UAE Vice President, Prime Minister and Ruler of Dubai, to make Dubai capital of the global Islamic economy.
The agreement was signed at DAFZA by Dr. Mohammad Al Zarooni, director general of DAFZA, and Dr. Abdulrahman Bin Saleh Al-Atram, president of ICIE and Secretary General of the International Islamic Foundation for Economics & Finance (IIFEF), in the presence of senior officials and managers from both sides.
The new partnership is of strategic importance as it primarily focuses on choosing Dubai and DAFZA in particular, to be the headquarters of ICIE.
The move aims to increase joint efforts to develop and promote products and services of the Islamic economy and to help in the development of the international Islamic economy. It is also intended to increase the contribution of the Islamic economy to Dubai’s overall GDP and reflect the ambitious objectives of the ‘Dubai the Capital of Islamic Economy’ initiative. Through the cooperative agreement, DAFZA hopes to attract businesses that operate in adherence to Shariah principles.
Dr. Al Zarooni said: “The new partnership confirms our eagerness to enhance the achievements made by Dubai to become a global leader in the Islamic economy.
"Together we shall build solid ties with the public and private sectors to ensure that the necessary means to deliver Islamic financial, commodity and service products with the highest standards of excellence and quality are provided. We are committed to effectively developing sectors under the Islamic economy and attract foreign investment within DAFZA which is now one of the most developed free zones in the world.”
The International Center for Islamic Economy will be a major focal point for providing Islamic economy and finance services through studies and databases, periodic events, annual reports, and scientific analyses to address current and future market issues. The Center aims to develop and innovate specialized Islamic economics and finance products for banks and financial and investment institutions. It also intends to provide recognized professional certification for Islamic economics and finance specialists to advance their personal and professional skills and enhance the efficiency of the financial institutions they work for.
SM/IINA
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