UAE's Islamic economy will move world to new stage: Gergawi

Mohammad Abdulla Al Gergawi, Minister of State for Cabinet Affairs, Chairman of The Executive Office, Chairman of the Centre for the Development of Islamic Economy, said the Global Islamic Economy Summit (GIES) would move the world to a new economic stage, where Islamic investments became a vital nerve of world economic activity.

Al Gergawi praised the leading role of UAE in the development of Islamic economy, which translates the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, who brought this economic system to the world

He added that this system has all the viable elements for real and substantial change in the global economic map.

“Over the past few years, we have been able to move from the stage of study and preparation, to interact with other sectors of the economy and of halal products, to Islamic banking, finance, pillars and all sectors.

Al Gergawi said, "The Islamic economy report which was issued a week ago in cooperation with Thompson Reuters, showed that the growth of Islamic economy has grown twice as much as world economy.”
He added that the UAE two years ago was ranked fifth globally in issuing Islamic instruments, while today it is ranked first

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