Sheikh Mohammed approves UAE Strategy for Islamic Finance and Halal Industry
His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, chaired a Cabinet meeting at Qasr Al Watan in Abu Dhabi.
Sheikh Mohammed said, 'I chaired a Cabinet meeting at Qasr Al Watan in Abu Dhabi, during which we approved the UAE Strategy for Islamic Finance and the Halal Industry.
'The goal is to develop the Islamic finance industry, lead global Islamic finance activities, and raise the level of halal product exports worldwide.
'Our goal is to increase the assets of our Islamic banks from Dhs 986 billion to Dhs 2.56 trillion within six years, and to increase Islamic sukuk issuances listed in the UAE to more than Dhs 660 billion by 2031.
'We also decided to establish a committee headed by the Governor of the Central Bank to implement the strategy. The UAE will continue to diversify and expand its national economy across all sectors, God willing.'
Sheikh Mohammed said, 'Today, we also reviewed, within the Cabinet, the results of the overall tourism sector in the country for the year 2024... The tourism, travel and hospitality sector in the country contributed to more than 800,000 jobs in 2023, and the contribution of this sector to the national economy reached 11.7%, and it is expected to reach more than 236 billion dirhams in 2024... We have the necessary infrastructure, and our goal is to reach a contribution of 450 billion dirhams over the next six years, God willing.'
The Dubai Ruler said, 'Today, in the Cabinet meeting, we approved updating the UAE's National Biosecurity Framework to ensure strengthening national capabilities for prevention and response, increasing research and innovation activities, developing our biological emergency management system, and strengthening the country's biosecurity infrastructure.
'During the meeting, we reviewed the latest developments in the country's small and medium-sized enterprises (SMEs) sector. The UAE ranked first globally for the fourth consecutive year in the Global Entrepreneurship Monitor 2024-2025 report, and 18th globally among the top 100 emerging ecosystems for startups in 2024. SME licenses witnessed a 160% growth.
'Our goal is to continue supporting and expanding this sector and providing the best environment for launching and supporting small and emerging companies, which constitute a key pillar of the national economy.'
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Sharjah 24
3 hours ago
- Sharjah 24
UAQ Ruler receives Eid Al Adha well-wishers
Greetings His Highness Sheikh Saud received congratulations from sheikhs, senior officials and a large number of well-wishers who gathered to extend their blessings on the occasion. Among those offering greetings were Abdul Rahman bin Mohammad bin Nasser Al Owais, Minister of Health and Prevention, and Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, who conveyed their heartfelt wishes to Sheikh Saud, praying that the occasion returns with good health and continued wellbeing for His Highness, and with further prosperity for the UAE and blessings for the Arab and Islamic nations. The Ruler of Umm Al Qaiwain also received greetings from citizens, officials, tribal representatives, members of Arab, Islamic and foreign communities, as well as business leaders, traders, and heads of banks, companies and factories operating in the UAE. They all prayed to God Almighty to grant Sheikh Saud good health and to bless the UAE with continued peace, security and prosperity.
Al Etihad
5 hours ago
- Al Etihad
UAQ Ruler receives Eid Al Adha well-wishers
7 June 2025 14:06 UMM AL QAIWAIN (WAM)His Highness Sheikh Saud bin Rashid Al Mu'alla, Supreme Council Member and Ruler of Umm Al Qaiwain, received Eid Al Adha greetings this morning at his palace, in the presence of His Highness Sheikh Ahmed bin Saud bin Rashid Al Mu'alla, Deputy Ruler of Umm Al Highness Sheikh Saud received congratulations from sheikhs, senior officials and a large number of well-wishers who gathered to extend their blessings on the those offering greetings were Abdul Rahman bin Mohammad bin Nasser Al Owais, UAE Minister of Health and Prevention, and Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, who conveyed their heartfelt wishes to Sheikh Saud, praying that the occasion returns with good health and continued wellbeing for His Highness, and with further prosperity for the UAE and blessings for the Arab and Islamic nations. The Ruler of Umm Al Qaiwain also received greetings from citizens, officials, tribal representatives, members of Arab, Islamic and foreign communities, as well as business leaders, traders, and heads of banks, companies and factories operating in the UAE. They all prayed to God Almighty to grant His Highness Sheikh Saud good health and to bless the UAE with continued peace, security and prosperity.
Sharjah 24
5 hours ago
- Sharjah 24
Ajman Ruler, CP continue to receive Eid Al Adha greetings
Greetings Their Highnesses received greetings from Abdul Rahman bin Mohammad bin Nasser Al Owais, Minister of Health and Prevention and Minister of State for Federal National Council Affairs; Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade; and Sultan Salmeen Al Mansouri, Ambassador of the State of Qatar to the UAE. They also received greetings from a number of sheikhs, senior officials, directors of government departments, dignitaries, tribal representatives, citizens, and members of Arab and Islamic communities. Heartfelt congratulations and sincere blessings The well-wishers extended their heartfelt congratulations and sincere blessings to Their Highnesses, praying to God Almighty to grant them continued health and happiness, and to bless the UAE, its leadership, people, and the Arab and Islamic nations with peace, prosperity and joy.
