Sheikh Hamdan hails growing impact of Islamic economy on Dubai GDP

Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and chairman of Dubai Executive Council, has hailed the growing contribution of the Islamic economy on Dubai’s gross domestic product (GDP).

He said the growth is part of Dubai ruler Sheikh Mohammed bin Rashid Al Maktoum’s vision to cement the emirate as a global capital of the Islamic economy.

Sheikh Hamdan also said that Dubai is keen to encourage creative ideas that open new horizons that lead to unleashing the potential of the Islamic economy and its diversified sectors.

His remarks were made following a report which showed the contribution of the Islamic economy to Dubai’s GDP, which grow 2.4% by end-2017 to AED 40.953bn ($11.15bn) compared to AED 39.985bn ($10.89bn) by end-2016.

The report issued by Dubai Statistics Centre also showed that the Islamic economy contributed 10 percent of Dubai’s GDP.

Sheikh Hamdan also said that the accumulative success of the Islamic economy locally also contributed in cementing the international role of Dubai.

This edited article first appeared in Arabian Business.