Dubai Islamic Economy Development Centre to publish annual report in October

Dubai Islamic Economy Development Centre (DIEDC) will publish its annual report on Sharia-compliant goods and services in October.

It is part of the Dubai government’s efforts to become a world leader in Islamic products ranging from finance, food and tourism.

The Islamic economy could be a US$3.73 billion market for companies focused on Sharia-compliant industries by 2019, according to estimates from Thomson Reuters and DIEDC.

The State of the Global Islamic Economy report will also highlight rapid growth in Islamic finance, with outstanding assets expected to exceed $4bn by 2019, according to DIEDC estimates. Countries such as Hong Kong, Britain and South Africa issued their maiden sukuk in the past year.

“We are confident that the report will inspire and empower entrepreneurs, industry leaders and investors from within the Arab world and beyond to evaluate and develop an actionable, practical and high-impact market strategy focused on growing the opportunities for Islamic economy in their own geographies,” said Abdulla Al Awar, the DIEDC chief executive.

The report will coincide with the Global Islamic Economy Summit 2015 in Dubai also in October, which will gather industry leaders and companies to discuss efforts to grow key segments such as halal food and Islamic tourism.

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