UAE approves strategy to bolster halal industry, Islamic finance
The UAE has approved a strategy to develop a globally competitive national Islamic financial sector, facilitate its activities and drive leadership in sustainable finance.
The strategy, which also seeks to boost exports by increasing local halal production and reach global Islamic markets, was approved during a cabinet meeting chaired by Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE.
“We aim to increase the assets of our Islamic banks from 986 billion Emirati dirhams to 2.56 trillion Emirati dirhams within six years and raise the value of listed Islamic sukuk in the UAE to over 660 billion Emirati dirhams by 2031,” said Sheikh Mohammed.
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