(MENAFN - Khaleej Times) Transforming Dubai into global hub for Islamic sukuks is the right choice and an optimal springboard towards achieving the vision of His Highness Shaikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, to make Dubai the capital of the Islamic economy in the world, said Shaikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council.
He made the remarks after Shaikh Mohammed had launched a new initiative that aims at transforming Dubai into an international centre for sukuks, one of the initiatives which are planned to be launched within the forthcoming period with the intent to developing the Islamic economy in the emirate in a way that complies with the vision of Shaikh Mohammed.
"Adding the Islamic economic sector to a slew of the essential economic sectors that compose our strong national economy in pursuance of the directives of Shaikh Mohammed represents a logical step under the leading position of the emirate to this sector at the international level," he said.
Shaikh Hamdan noted that Dubai has oldest Islamic bank in the world, and first Islamic bourse, and has experts and distinctive experience in the field of sukuks, an experiment which has gained momentum in the past two decades.
"The forthcoming period will see dynamic activity in this sector through launching of a number of other initiatives as part of different tracks in the Islamic economic sector," he said. "We will continue to work closely with the Higher Committee for upgrading the Islamic economic sector on invigorating its role in the national economy and support its objectives," he said.
He added that as well as boosting the performance of the effective institutions and entities as part of this sector, and work with them as one team.
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