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Tue 11 Oct 2016 02:44 PM

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Dubai's plan to become global capital of Islamic economy 'on track'

Crown prince Sheikh Hamdan says Dubai is set to launch ambitious projects as part of a plan

Dubai's plan to become global capital of Islamic economy 'on track'
Dubai Crown Prince Sheikh Hamdan bin Mohammed bin Rashed al-Maktoum (L) chats with International Monetary Fund chief, Christine Lagarde. (AFP/Getty Images)

Dubai is set to launch ambitious projects as part of a plan to transform the city into the capital of the Islamic economy by 2021, according to Dubai's crown prince Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum.

He said in comments ahead of the third Global Islamic Economy Summit that all indicators and data show that "we are on track to achieve" Dubai ruler Sheikh Mohammed bin Rashid Al Maktoum’s vision.

“We have accumulated considerable experience in this domain and have a clear roadmap to achieve our goals in alliance with strategic partners both within and outside the country," he said in a statement released by Dubai Media Office.

"We are working together to achieve the objective of developing the Islamic economy globally and developing various new products that will set benchmarks in every sector.” 

Sheikh Hamdan added that Sheikh Mohammed bin Rashid Al Maktoum constantly follows up on the implementation of the strategic plan to transform Dubai into the capital of the Islamic economy.

“From a very early stage, Dubai realised the importance of the Islamic Economy. Dubai’s advanced infrastructure and strategic geographic location at the heart of the Islamic world puts it in a good position to establish leadership in the sector. The growth of the Islamic Economy is gaining speed and has became one of the economic priorities of Dubai,” Sheikh Hamdan said.

“We look forward to having productive discussions at the Global Islamic Economy Summit, and hope that it will focus on the role the sector plays in the country’s economic development, and in enhancing the stability of the global economy.”