DIAC and Academic Partners host networking event to support $8 trillion Islamic economy vision
13/09/2014 1:06 pm EDT


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Dubai International Academic City (DIAC), part of TECOM Investments’ Education Cluster, brought together over 25 heads of universities and HR and training executives, who provided vital input and ideas at a networking event to discuss the next steps in achieving Dubai’s vision of becoming the global capital of the Islamic Economy.

The academic experts and HR professionals, along with Dr. Khalid Abdul Aziz Mohammed Ali Jinahi, Advisor from the Dubai Islamic Economy Development Centre and Dr. Ayoub Kazim, Managing Director of TECOM Investments’ Education Cluster, came together to discuss the challenges and opportunities associated with transforming Dubai into the capital of the world’s Islamic Economy, as guided by HH Sheikh Mohammed bin Rashid Al Maktoum’s vision.

Dr. Khalid Abdul Aziz Mohammed Ali Jinahi gave a detailed account of the seven pillars that have been identified in representing important sectors of the economy to achieve the ambition of establishing Dubai as the capital of the Islamic Economy. These include; Islamic finance, Halal food industry, Halal tourism, Islamic digital economy, Islamic art and design, ensuring Dubai becomes the centre for Islamic economy standards and certification, and the international capital of Islamic information and education.

For Dubai to grow into the capital of the Islamic Economy, and achieve this ambition by 2017, a vast number of skilled workers will be needed to serve each of the founding pillars. Findings from the recent Deloitte ‘Workforce Planning Study’ commissioned by DIAC, indicated that Islamic banking skills are in high demand from GCC banks, particularly at the entry level with 50% of the banks surveyed stating that they found it difficult to hire graduates, supporting the need for qualified graduates in these sectors.

Commenting, Dr. Ayoub Kazim, Managing Director of TECOM Investments’ Education Cluster, said, “Islamic finance is a central pillar in Dubai’s strategy to become the world’s capital of the Islamic economy. Demand for skilled workers in this field has never been higher, and as a home for the region’s education and training institutes, we have an important role to play in bringing academia, industry and government closer together to ensure the future success of the sector.

“Networking events such as this inspire debate and lead to the identification of pathways in which we can help to achieve Dubai’s vision of becoming the centre of the Islamic economy. At DIAC and DKV, we are dedicated to facilitating discussions that outline the educational requirements that we will face in the future in order to achieve the wider ambitions of the country. This is a smart and forward-looking approach to education – and it is one that ties back to Dubai’s overarching vision of developing a thriving, knowledge-based economy,” he added.

Dr. Khalid Abdul Aziz Mohammed Ali Jinahi, Advisor, from the Dubai Islamic Economy Development Centre commented: “As Dubai continues to strengthen its position as the capital of Islamic economy to achieve the vision of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, the public and private sectors are making phenomenal contributions through launching initiatives that boost the growth of the sector’s allied verticals. Dubai Islamic Economy Development Centre is committed to coordinating with various bodies and institutions to support and encourage initiatives that enhance Dubai’s position as the capital of Islamic economy. As part of this priority, we are paying special attention to research and knowledge development and are set to launch a series of educational projects specific to the various sectors of Islamic economy. We also aim to set up centres for research studies to build a body of work that enriches the new generation’s understanding of the Islamic economy.”

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