The UAE Cabinet, chaired by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister of the UAE and Ruler of Dubai, has approved the “UAE Strategy for Islamic Finance and Halal Industry.” This strategic initiative aims to bolster the country’s position as a global leader in Islamic finance and expand the halal industry.

The strategy outlines a comprehensive framework intended to stimulate economic growth and enhance the UAE’s competitiveness in key sectors. It includes initiatives to promote the development of standards and regulations for Islamic financial products and services, as well as efforts to increase the awareness and attractiveness of the halal economy.

By implementing this strategy, the UAE hopes to create a more robust ecosystem for Islamic finance and halal products, benefiting businesses and consumers alike. The Cabinet’s decision reflects a commitment to diversifying the economy and harnessing the potential of emerging markets in the region.