1. DUBAI: THE CAPITAL OF THE ISLAMIC ECONOMY

2. THE VISION ‘Our vision for the Islamic economy sector is clear: we need this sector to contribute, in a vital manner, to our national economy and enhance our position as the global capital of the Islamic economy.’

3. DUBAI: A GLOBAL TRADE AND LOGISTICS HUB
Dubai is a time zone bridge between the Far East and Europe on the East-West axis and the CIS and Africa on the north-south axis.
Well established trading links exist with over 1.5 billion people in the Gulf, Middle East/Eastern Mediterranean, CIS, Central Asia, Africa and the Asian sub-continent.
Total international trade has grown on average by over 11% per year since 1988.
Served by over 120 shipping lines and linked via 85 airlines to over 130 global destinations.
No exchange controls, quotas or trade barriers.
Foreign trade network extending to 179 states, presenting an extensive choice of global opportunities.
Network of seven industrial areas, one business park and three highly successful, specialized free zones of international distinction, two world class seaports, two major international airports and cargo village, a modern highway network, state-of-the-art telecommunications and reliable power and utilities.

4. DUBAI’S STRATEGIC ISLAMIC ECONOMY VISION
STRONG
Oil & Gas
Manufacturing
Agriculture
Electricity
&
Water
Telecommunication
Government Services
Construction
Professional Services
WEAK
DUBAI’S STRENGTH ACCORDING TO INTERNATIONAL STANDARDS
DUBAI’S POSITION AMONG THE FASTEST GROWING INDUSTRIES IN THE WORLD
THE FASTEST GROWING SECTORS
THE SLOWEST GROWING SECTORS
Trade
Tourism
Financial Services
Transport & Logistics

5. DUBAI’S ISLAMIC ECONOMY ECO SYSTEM
Vision & Leadership
Knowledge, Talent & Innovation
Culture & Arts
Trade & Commerce (e.g. Halal food, beauty & pharma)
Finance & Transactions
Rules & Regulation
Creating the Economic Capital
Infrastructure & People Connectivity
Branding & Reputation

6. ABOUT DIEDC
Dubai Islamic Economy Development Centre (DIEDC) was established in 2013 under the patronage of His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai.
DIEDC is founded on the seven pillars of finance, the ‘halal’ industry, tourism, digital infrastructure, art, knowledge and Islamic standards.
Through carefully planned strategies and initiatives, DIEDC is committed to engaging with stakeholders to foster a generation of qualified professionals with the required skill-sets to drive growth across the seven constituent pillars, while creating a dynamic and competitive environment that fuels growth within the sector.

7. DIEDC’S BOARD Chairman Vice-Chairman Secretary-General Member
HE Hussain D Al Qamzi
Chairman of Awqaf and Minors Affairs Foundation
HE Abdul Rahman Saif Al Ghurair
Chairman of Dubai Chamber of Commerce and Industry (DCCI)
HE Abdul Aziz Abdullah Al Ghurair
Vice Chairman of Dubai International Financial Centre
HE Mohammad A. Al Gergawi
Minister of Cabinet Affairs in the Federal Government of the United Arab Emirates/ Chairman of the Executive Office of Sheikh Mohammed bin Rashid Al Maktoum
HE Helal Saeed Al Marri
Director General of Tourism and Commerce Marketing Department in Dubai
HE Dr Hamad S. A. Al Shaibani
Director General of the Department of Islamic Affairs and Charitable Activities in Dubai
HE Hussain Nasser Lootah
Director General of Dubai Municipality
HE Sami D. Al Qamzi
Director General of Department of
Economic Development
HE Essa Kazim
Governor of Dubai International Financial Centre (DIFC) and Chairman of Dubai Financial Market (DFM).
Chairman
Vice-Chairman
Secretary-General
Member

8. To position Dubai as the Capital of the Islamic Economy
VISION AND MISSION
Vision:
To position Dubai as the Capital of the Islamic Economy
Mission:
To implement a comprehensive strategy with practical programs and initiatives that accelerate the positioning of Dubai as ‘the Capital of the Islamic Economy’

9. OBJECTIVES
Develop the infrastructure and create the required institutional structure to implement the initiative of “Dubai The Capital of Islamic Economy”.
Develop the necessary legislative and regulatory framework to drive the initiative forward.
Ensure effective coordination and integration between stakeholders to achieve the vision of “Dubai The Capital of Islamic Economy”.
Create the means and solutions to support and promote the strategy of “Dubai The Capital of Islamic Economy”.
Prepare a dynamic interactive climate to join forces of all concerned institutions to achieve the vision of the initiative.
Foster awareness of the economic activities that are compatible with the Islamic law, both in terms of theory and practice, with a view to create a generation of leading experts who are capable of developing the Islamic Economy.

10. DUBAI – CAPITAL OF THE ISLAMIC ECONOMY STRATEGY
Work with public and private sector partners, within and outside the UAE, to drive growth across seven Islamic economy sectors.
Implement a comprehensive strategy of practical initiatives and programmes designed to position Dubai as the capital of the Islamic economy.

11. STRATEGIC PILLARS
DIEDC seeks to develop an enabling and empowering environment, including the necessary legislative and regulatory framework, to support the growth of the Islamic Economy. This is done through 7 key strategic pillars:

12. ISLAMIC ECONOMIES – LARGE & FAST GROWING
GLOBAL ISLAMIC ECONOMY OVERVIEW
ISLAMIC ECONOMIES – LARGE & FAST GROWING
The Islamic economies of the world represent more than $6.7 trillion in GDP
Fast growing shari’a compliant investment, financing and trade
Islamic financial assets estimated at USD 1.66 trillion, and expected to double by 2019
Some of the fastest-growing global economies that stretch from Indonesia in the east to Turkey in the west with the Arabian Gulf states at their centre.
1.7 billion Muslim population growing at twice the rate of the global population

13. MUSLIM POPULATION – EXPANDING, YOUNG, ECONOMICALLY ACTIVE MARKET
GLOBAL ISLAMIC ECONOMY OVERVIEW
MUSLIM POPULATION – EXPANDING, YOUNG, ECONOMICALLY ACTIVE MARKET
Muslims spent $2 trillion on food and lifestyle products in 2013.
Fast growing and relatively young population of Muslims is increasingly asserting its Islamic sensitivities in the marketplace to products as varied as food, banking, and finance extending all the way to fashion, cosmetics, travel and healthcare.
62% of population is below 30, compared to 51% globally, 40% in North America & 43% in China
Influence stretches beyond Muslim majority countries; more than 350 million Muslims live in non-Muslim majority nations

14. ISLAMIC FINANCE LANDSCAPE
2013 ISLAMIC FINANCE ASSETS
US $1.66 TRILLION
(INCLUDES BANKING, TAKAFUL, SUKUK, FUNDS, OTHERS FROM DISCLOSED DATA)
POTENTIAL ISLAMIC BANKING LANDSCAPE
US $4.178 TRILLION
(3.2% OF GLOBAL BANKING ASSETS)
ISLAMIC BANKING
US $1.214 TRILLION ASSETS
249 ISLAMIC BANKS (169 LISTED)
SUKUK (BONDS)
US $280 BILLION ASSETS
1,814 OUTSTANDING SUKUK (44 LISTED)
TAKAFUL (INSURANCE)
US $28 BILLION ASSETS
281 TAKAFUL OPERATORS (52 LISTED)
ISLAMIC FUNDS
US $51 BILLION NET VALUE
791 ISLAMIC FUNDS
BY SEGMENT

15. STRATEGY - ISLAMIC FINANCE
Work with both public and private sector partners to enable one of the world’s great Islamic financial centres to be established in Dubai that will be the global reference and economic engine of Islamic finance.
Reach out within the Middle East and beyond to build the international bridges essential for the global success of Islamic finance.
Work with the Islamic finance industry to develop the regulatory framework that will enable the sector to flourish and become a global alternative to conventional finance.

16. HALAL INDUSTRY LANDSCAPE
MUSLIMS GLOBALLY SPENT
US $1.292 TRILLION
ON FOOD & BEVERAGE IN 2013
(17.7% OF GLOBAL EXPENDITURE)
EXPECTED TO REACH
US $2.537 TRILLION
IN 2019
(21.2% OF GLOBAL EXPENDITURE)
US $72 BILLION
ON PHARMACEUTICALS IN 2013
(6.6% OF GLOBAL EXPENDITURE)
US $103 BILLION
US $46 BILLION
ON COSMETICS IN 2013
(6.78% OF GLOBAL EXPENDITURE)
US $73 BILLION

17. STRATEGY - HALAL INDUSTRY
Pursue national Halal regulations, standards and auditing processes to position Dubai as the trusted name and solutions provider for the Halal industry.
Work with public and private sector stakeholders to consolidate and unify Halal certification standards globally.
Drive the development of the “Halal Park” concept to enable Halal sector companies to set up in Dubai and receive globally recognised Halal certification.
Create a knowledge base accessible to stakeholders, especially potential entrants to the sector.

18. FAMILY FRIENDLY TOURISM LANDSCAPE
MUSLIMS GLOBALLY SPENT
US $140 BILLION
ON TOURISM IN 2013
(11.6% OF GLOBAL EXPENDITURE)
EXPECTED TO REACH
US $238 BILLION
IN 2019
* Excluding Hajj/Ummrah
TOP MUSLIM TOURISM SPEND US BILLION 2013
SAUDI ARABIA
IRAN
UAE
QATAR
KUWAIT
INDONESIA

19. STRATEGY – FAMILY FRIENDLY TOURISM
Work with owners and operators to develop a family friendly tourism strategy to attract DFI/DDI into Dubai’s tourism and hospitality sectors and position Dubai as the destination of choice for family friendly tourism.
Create awareness of the investment opportunities in family friendly tourism to encourage the development of purpose built 5-star, family-friendly resorts to meet international demand.
Consolidate family friendly tourism travel guidelines and certification standards to protect consumers and ensure sector integrity.

20. DIGITAL ECONOMY LANDSCAPE
MUSLIM MOBILE CELLULAR SUBSCRIBERS SPEND
US $1.3 BILLION
(21% OF GLOBAL EXPENDITURE)
MUSLIM BROADBAND SUBSCRIBERS SPEND
US $42 MILLION
(7% OF GLOBAL EXPENDITURE)
TOP MUSLIM MOBILE CELLULAR SUBSCRIBERS
THOUSANDS 2013
Indonesia 225,571
Pakistan 115,826
Egypt 91,668
India 88,201
Bangladesh 87,851
TOP MUSLIM BROADBAND INTERNET SUBSCRIBERS
THOUSANDS 2013
Turkey 7,748
Iran 3,067
Russia 2,417
Indonesia 2,386
China 2,283

21. STRATEGY – DIGITAL ECONOMY
Position Dubai as a pioneer of the Islamic digital economy.
Work with stakeholders to support digital start-ups among Muslim entrepreneurs.
Encourage technology companies to create Arabic and shari’a-compliant content/products.
Work with the digital media industry to develop the regulatory framework that will enable the sector to flourish.

22. ISLAMIC FASHION, ARTS AND DESIGN LANDSCAPE
MUSLIMS GLOBALLY SPENT
US $266 BILLION
ON CLOTHING & FOOTWEAR IN 2013
(11% OF GLOBAL EXPENDITURE)
EXPECTED TO REACH
US $484 BILLION
IN 2019
(14.4% OF GLOBAL EXPENDITURE)
TOP MUSLIM CLOTHING CONSUMPTION MARKETS
US BILLION 2013
Turkey
UAE
Indonesia 18.8
Iran
Saudi Arabia
Nigeria

23. STRATEGY – ISLAMIC FASHION, ARTS AND DESIGN
Establish an enabling environment for a modest fashion incubation platform to develop sector talent, especially as it relates to design.
Encourage film festivals, such as DIFF and GIFF to establish dedicated awards for Islamic heritage films.
Support the development of Islamic art and an Islamic art trading platform through target marketing initiatives.
Encourage the adoption of architecture that reflects Islamic lifestyles and values.

24. STRATEGY – KNOWLEDGE
Work with stakeholders to align academia with government and industry to address skill shortages within the Islamic economy.
Conduct studies and specialised research on the Islamic economy to create a global knowledge resource.
Partner with a leading think tank to establish a platform for in depth, strategic discussion on the future of the Islamic economy.

25. STRATEGY – STANDARDS AND CERTIFICATION
Make Dubai the global reference point for Islamic economy standards.
Work with stakeholders to develop a framework for certifying Halal products and services that is globally acceptable.
Support the establishment of a Dubai Halal accreditation authority and develop schemes for private certifiers.

26. DUBAI ISLAMIC ECONOMY: LAUNCHED INITIATIVES
Global Islamic Portal created as a digital reference for the Islamic economy.
Annual State of the Global Islamic Economy Report published
Global sukuk centre set up by NASDAQ Dubai.
Dubai Centre for Excellence in Islamic Banking and Finance established by HBMeU.
Dubai Technology Entrepreneurship Centre announced by DSOA.

27. DUBAI ISLAMIC ECONOMY: LAUNCHED INITIATIVES
Halal industries clusters opened at Dubai Industrial City and JAFZA.
Salma emergency Halal food aid programme initiated by HH Sheikh Mohammed bin Rashid Al Maktoum.
Annual Islamic Economy Award introduced.
First bi-annual Global Islamic Economy Summit organised.
First annual Halal Expo held alongside the Gulfood exhibition

28. DUBAI ISLAMIC ECONOMY: LAUNCHED INITIATIVES
Executive Master’s in Business Administration (EMBA) in Islamic Banking and Finance announced by the Dubai Centre for Islamic Banking and Finance.
Dubai government initiative to establish a global accreditation centre for certifying slaughterhouses, research laboratories and other halal-specific facilities.
Dubai’s Department of Economic Development’s (DED) forging global partnerships to position Dubai as a manufacturing and re-distribution hub for halal products.

29. GLOBAL ISLAMIC ECONOMY OPPORTUNITIES - ISLAMIC FINANCE
Convergence of Islamic Finance/ capital with Halal Food and lifestyle sectors
Socially Responsible Investment (SRI) funds as well as wider impact investment and social entrepreneurship financing
Hajj/Umrah savings and funds
Expansion markets of Tunisia, Azerbaijan, India, Morocco and Indonesia
Infrastructure spending across large OIC markets
Crowdfunding and SME financing

30. GLOBAL ISLAMIC ECONOMY OPPORTUNITIES – FOOD
Investment opportunities across the Halal Food value chain
Halal Food SMEs seeking Islamic financing for working capital, trade financing and expansion needs
M&A opportunities
Organic and pure/wholesome (Tayyab) new products
Halal ingredients
Building global or regional brands that deliver on halal integrity

31. GLOBAL ISLAMIC ECONOMY OPPORTUNITIES – PHARMACEUTICALS & COSMETICS
Western Muslim markets
Halal vaccines - especially for Hajj/Umrah
Ingredients manufacturing by OIC countries
Partner with major retailers to overcome political stigma over Halal brands.

32. GLOBAL ISLAMIC ECONOMY OPPORTUNITIES – FAMILY FRIENDLY TOURISM
Family-friendly and business travel cross-over appeal to Muslim-friendly services
Luxury Muslim market segment
Halal travel as commercial real-estate investment opportunity
Hajj funds
Halal-themed packages
Muslim heritage gifts/souvenirs
e-commerce, mobile, social media marketing platforms

33. GLOBAL ISLAMIC ECONOMY OPPORTUNITIES – DIGITAL ECONOMY
Broaden the genre
Gaming
Marketing partnerships with other Halal lifestyle sectors;
Western Muslim markets;
Digital media content;
Integrating technology/new media, social media (Google Glass for apps, Oculus for virtual/ augmented reality);
Develop globally branded Halal media and celebrities or regional icons.

34. GLOBAL ISLAMIC ECONOMY OPPORTUNITIES – FASHION
Digital/e-commerce platform
Expansion of online startup brands with retail outlets, physical stores, franchising and distribution partnerships
Western Muslim markets as the largest segment
Better target marketing platforms
OIC-based exporters
Cross-sell to other faith-based, modest-conscious consumers, with global brand positioning.

35. Thank you!!!