H.E. Sultan Al- Mansoori affirms in the opening speech that production is the essence of the national economy and Islamic economy
Dr. Obaid Al Zaabi presents features of the Islamic capital market strategy launched by the SCA and its key challenges
Dr. Obaid Al Zaabi, Acting CEO of the SCA, took part in the 2nd Sharjah International Conference on Islamic Economy which was organized by University of Sharjah under the auspices on His Highness Sheikh Dr. Sultan bin Mohammed Al Qasimi, Member of the Supreme Council of the United Arab Emirates, Ruler of the Emirate of Sharjah, and President of the University of Sharjah
H.E. Sultan Al- Mansoori, Minister of Economy and Chairman of the SCA, gave the opening speech of the conference and applauded the efforts exerted by the government of Sharjah and its public and private institutions toward providing a sound and sustainable environment for business and investment and to ensure development and prosperity. “The conference opens up an important window to the Islamic economy and means of elevating its contribution in the sustainable development, and it represents a significant addition to such excellent efforts and endeavors. According to the data of the Organization of Islamic Cooperation for 2016, the Islamic economy has become a significant component in the international economy and the volume of investments in its different sectors are estimated at 8 trillion dollars worldwide while the clients of Islamic economy exceed one quarter of the world population”, added Al- Mansoori.
H.E. Chairman of the Board of Directors said:”production is the core of the national economy and the Islamic economy. A plan is in place to increase the contribution of the industry in the gross domestic product to 16% by 2021, and to 20% by 2025. Such direction represents a leverage of the efforts aiming at transforming the United Arab Emirates to an international hub for Halal industries and an incumbent of the required standards and specifications to ensure high quality and competitiveness. Further, the concentration of the national agenda on improving of the competitiveness, promoting of innovation, Emiratization of technology, and boosting of the research and development sector provides a high-quality knowledge environment to nurture the growth of all the sectors of the Islamic economy.