DAFZA signS MoU to boost Islamic economy
by Ashleigh McGinley
The Dubai Airport Freezone Authority (DAFZA) has signed a strategic Memorandum of Understanding (MoU) with the International Centre of Islamic Economy.
The MoU aims to strenghten their mutal co-operation and make valuable contributions in support of the initiative launched by H.H. Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President, Prime Minister and Ruler of Dubai, to make Dubai a capital of the global Islamic economy.
The agreement was signed atb DAFZA by Dr. Mohammed Al Zarooni, director general of DAFZA and His Eminence, Dr. Abdulrahman Bin Saleh Al-Atram, president of the International Center of Islamic Ecnomoy FZE and secretary general of the International Islamic Foundation for Economics & Finance (IIFEF).
The new partnership is of strategic importance as it focuses on choosing Dubai, and DAFZA in particular, to be the headquarters of the International Center of Islamic Economy.
The move aims to increase joint efforts to develop and promote products and services of the Islamic economy and to help in the development of the international Islamic economy.
It is also intended to increase the contribution of the Islamic economy to Dubai's overall GDP and reflect the ambitious objectives of the 'Dubai The Capital of Islamic Economy' initiative.
Through the co-operative agreement DAFZA hopes to attract businesses that operate in adherence to Shariah principles.
Dr. Mohammed Al Zarooni, said: “The new partnership confirms our eagerness to enhance the achievements made by Dubai to become a global leader in the Islamic economy.
"Together we shall build solid ties with the public and private sectors to ensure that the necessary means to deliver Islamic financial, commodity and service products with the highest standards of excellence and quality are provided.
"We are committed to effectively developing sectors under the Islamic economy and attract foreign investment within DAFZA which is now one of the most developed free zones in the world.”