Published: Sep 24, 2014
Source: WAM

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Dubai Islamic Economy Development Centre to launch State of Global Islamic Economy Report 2014

The Dubai Islamic Economy Development Centre, DIEDC, in partnership with Thomson Reuters, has announced the date for the launch of its State of the Global Islamic Economy Report 2014 in December.

The report will present new insights into the development of the Islamic economy, particularly focusing on key players, geographic trends, challenges and opportunities in each segment of the Islamic economy. It will also highlight key local and global findings of the Global Islamic Economy Indicator (GIEI), a numeric measure representing the overall health and growth of the Islamic economy.

Mohammed Abdullah Al Gergawi, Chairman of the DIEDC Board, said, "The U.A.E., and more specifically Dubai’s Capital of Islamic economy model mandates us to assume a leadership role in developing knowledge and cultivating an understanding of the Islamic economy and the various forces driving its growth. The 2014 State of the Global Islamic Economy report provides fresh insight into the challenges and opportunities emerging within economic sectors that are critical to the long term prosperity of Muslim majority countries and the wider global economy." Essa Kazim, Secretary General of DIEDC, said, "The State of the Global Islamic Economy Report 2014 will be a guiding tool for all stakeholders and investors to further understand the huge economic potential, as well as the challenges of building an Islamic economy hub. The findings of the 2014 report will define a new wave of opportunities for commerce within the Islamic economy." Abdulla Mohammed Al Awar, CEO of the Dubai Islamic Economy Development Centre, said, "The State of the Global Islamic Economy Report 2014 will catalogue the developments that have taken place within the Islamic economy over the past 12 months, as well as providing a comprehensive picture of the important trends that are gathering momentum across the full spectrum of the Islamic economy. I am confident that its findings will help facilitate investments and industry growth, providing a solid framework for businesses to assess and evaluate market opportunities for each sector of the Islamic Economy." The State of the Global Islamic Economy Report 2014 is expected to reinforce the growth opportunities in the Islamic economy, particularly in the finance, halal and lifestyle segments. Growth of Islamic financial assets continues to outstrip growth of conventional financial assets at 15-20 percent per annum and is predicted to hit US $2 trillion in 2015.

Meanwhile global expenditure by Muslims on halal food and lifestyle products is forecast to grow by 65 percent by 2018, to reach US$2.46 trillion, according to DIEDC- By WAM/Aamir/Moran

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