Dubai Could be next’s Islamic Economy’s Growth Leader

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The tourism capital of United Arab Emirates is prospected as the next leader of theDubai Could be next’s Islamic Economy’s Growth Leader Islamic economy’s development in the next phase of Sharia sectors, as well as it’s finance and insurance, food, style and travel.
This summary made by Thompson Reuters is the 1st State of the Global Islamic Economy Report set to release on the 2013 Global Islamic Economy Summit by Monday.
The report includes the point of stagnation of Malaysia which considered as the strongest hub of all around Islamic economic sector and Dubai having the solid potential as the foremost in global Islamic economy. Other major cores considered are Saudi Arabia, Turkey and Indonesia.
His Highness Shaikh Mohammad Bin Rashid Al Maktoum, UAE Vice President and Prime Minister and Ruler of Dubai, “the continued developments and changes in the global economy increase the need to constantly diversify the structure of our national economy. Our firm principle in the UAE is not to rely on one single economic resource or sector. The Islamic economy is not new to us, in fact, we have accumulated considerable expertise in this field and our aim is the global arena”, published on WAM.
The attractive demographic, religious value-driven consumption, Muslim majority comprising the fast growing emerging frontier countries, and growing intra-OIC (Organisation of Islamic Cooperation) trade are the key drivers that molds the transformation of the Sharia-based economy.
At a global focus, participation of global multinationals in the Islamic economy, including major banks and food companies, developed economies seeking growth markets, increasing focus worldwide on business ethics and global communication technology revolution. Other major sectors of Islamic economy include clothing, pharmaceutical / cosmetics and media recreation.