Islamic finance to reach $3.8tr by 2022 - DIEDC

Islamic finance to reach $3.8tr by 2022 - DIEDC
DIEDC's first board meeting this year

Mubasher: Dubai Islamic Economy Development Centre (DIEDC) has convened its first board meeting for 2018, reviewing all the initiatives that had been implemented last year.

UAE minister of economy and chairman of DIEDC, Sultan bin Saeed Al Mansouri confirmed that the centre will work closely with suitable entities and organisations to find new tools that fast-track the growth of Islamic economy sectors.

Islamic finance is expected to be valued at $3.8 trillion by 2022, the minister noted.

“We aim to specify the Islamic economy sectors’ contribution to the national GDP through a comprehensive database that lists the contribution of individual sectors. This database will allow us to closely analyze each sector and its impact on the remainder of the sectors for accurately putting in place decision-making processes that achieve a balance in investments,” Al Mansouri added.