UAE & Indonesia cooperate in Islamic Finance and Halal Industry

UAE & Indonesia cooperate in Islamic Finance and Halal Industry
25 September 2019
According to WAM Emirati informational centre, on 24 September 2019, Dubai Islamic Economy Development Centre (DIEDC) held a meeting with a high-level Indonesian delegation that arrived to study Islamic economy system in UAE and identify opportunities for collaboration. Delegation was made of representatives of Bank Indonesia (central bank of the country), Indonesia Halal Life Centre and representatives of Indonesian organizations of Islamic economy.
General Director of DIEDC Abdulla Al Avar says: “This meeting reflects aspirations of DIEDC to expand its network of international strategic partners and broaden influence of Islamic economy. Fruitful partnership with other centres of Islamic economy will strengthen UAE standing of a global capital of Islamic economy.”
Mr. Abdulla al-Avar added: “Indonesia is the most populous country with a Muslim majority, which makes it a key market of halal industry. Delegates represent organizations with whom we’d like to collaborate for advancement of opportunities of Islamic economy.”
According to DIEDC and Refinitiv & Dinar Standard Report on the state of global Islamic economy, muslims of Indonesia spent in total $218,8b on Islamic economy sectors in 2017.
Rating of Indonesia in global Islamic economy moved from 11thto 10thplace, thereby outruning Brunei. Such change was mainly caused by rating growth of halal products in Indonesia and wide coverage and promotion of halal products events by media, and rise of awareness of the population.

Source: Embassy of Republic of Kazakhstan in UAE