UAE Vice President, Prime Minister and Ruler of Dubai His Highness Sheikh Mohammed bin Rashid al Maktoum assured that the Islamic finance sector in the UAE is based on found pillars of legislations and laws. He added, this infrastructure attracts several financial institutes.

Following is the complete press conference:

Sheikh Mohammed: Today is the beginning of new era, and we always strive to be no.1. This is what we hope for and with this positive energy we can explore new horizons.

Q1: What do you think about launching Dubai as a center for Islamic financial tools and a hub for Islamic economy?

Sheikh Mohammed: Islamic finance is crucial, and creditability is key factor. Simply, if any country branded a product as “halal”, people may or may not trust that but people will believe it if it comes from Dubai.

Q2: Within a short period, you were able to position Dubai as an International hub of economy, what standards did you adopt?

Sheikh Mohammed: They are international standards. We aim to be in the first position. Today, Dubai may be in between third and second positions, but today Dubai is about to lead.

Q3: Do you think Dubai can compete with leading financial markets, like London, and play significant role as an international financial hub?

Sheikh Mohammed: The United Arab Emirates and Dubai, under the leadership of our President, will be able to reach the top.

Thank you