Q&A Abdulla Al Awar: ‘Groundbreaking’ changes in Saudi Arabia increases competition, offers opportunities for Islamic economy

The Dubai Islamic Economy Development Centre (DIEDC) was set up in 2013 to spearhead the emirate’s aim of becoming the capital of the Islamic economy. One initiative it has supported since 2013 is the production of the annual State of the Global Islamic Economy (SGIE) report. This year’s report, produced by DinarStandard and supported by Salaam Gateway, was released on Monday (November 11) in Dubai. We asked DIEDC CEO, Abdulla Al Awar his take on the state of the global Islamic economy, including what the changes in Saudi Arabia mean for Dubai.

SALAAM GATEWAY: Since its inception in 2013, DIEDC has seen the Islamic economy develop at the global macro level as well as grow at the micro level. During this time, climate change, sustainability, responsible finance, food security, and strategic philanthropy have started dominating the global landscape. All these topics are addressed by the UN’s Sustainable Development Goals (SDGs). At the 2018 launch of the State of the Global Islamic Economy 2018/19 report, you told Salaam Gateway: “Islamic economy sectors have underlying principles that are very closely linked to the SDGs.” 

How has the Islamic economy addressed the global challenges, and do you see anywhere or anyone in the Islamic economy staying ahead of the curve on any of these issues?