International Centre of Islamic Economy launches Digital Portal of 'Oasis of Innovation in Islamic Economy'

UAE – March 30, 2016- The International Centre of Islamic Economy headquartered at the Dubai Airport Freezone Authority (DAFZA) officially launched today (Wednesday, March 30, 2016) the digital portal of the 'Oasis of Innovation in Islamic Economy' concurrently with the groundbreaking of the first global oasis dedicated to incubating creative ideas and entrepreneurial projects in support of the international Islamic economy. His Eminence, Dr. Abdulrahman Bin Saleh Al-Atram, President of the International Centre of Islamic Economy, announced the official launch during a special conference held at DAFZA that accommodated a supportive and prominent audience of government officials, decision makers and leaders of Islamic economy sector. The attendees emphasized the importance of such a proactive step in accelerating the regional and global development of the Islamic economic system.

The digital portal is a vital tool for facilitating direct access to the advisory services available on the 'Oasis of Innovation in Islamic Economy' which is one of the creative ideas arising from International Innovative Platform for Islamic Economy Products (IIPIEP) 2015. The portal aims to ensure the transformation of creative ideas and ambitious projects into practical products that support the Islamic economic growth process. The commencement of construction works on the 'Oasis of Innovation in Islamic Economy' at DAFZA is an important addition to efforts towards fulfilling the objectives of ‘Dubai Capital of the Islamic Economy Initiative’ as it adopts an interactive methodology that stimulates innovation and supports creative ideas which ensure optimal investment in the concept of the Islamic economy.

Dr. Mohammed Al Zarooni, Director General, DAFZA, said: “The introduction of the digital portal and the groundbreaking of the 'Oasis of Innovation in Islamic Economy' is the result of the close coordination and fruitful cooperation with the International Centre of Islamic Economy, which DAFZA hosts in accordance with its efforts to create an ideal environment to instill innovation in the Islamic Economy which has becomes a main contributor to the success of the UAE’s Economic Diversification Policy. We are confident that the portal will drive efforts to disseminate the best practices and offer the latest advisory services in support of the development of Islamic products and services conforming to the highest standards of excellence. The new portal will definitely play an important part in achieving our ambitious objective to position DAFZA as a key supporter of Dubai's transformation into the capital of the global Islamic economy, in line with the wise vision of H.H. Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai.”

His Eminence, Dr. Abdulrahman Al-Atram said: “The start of the Oasis of Innovation in Islamic Economy’s construction is an important step towards establishing integrated and practical frameworks for transforming creative ideas and innovative projects into actual products that support the establishment of the Islamic economy as a key driver of the global economic system. The launch of the new digital portal reflects the strong strategic partnership between DAFZA and the International Centre of Islamic Economy and joint efforts to support the leading and innovative ideas raised at IIPIEP 2015, which served as a prominent event for deriving creative visions that can re-structure the future of the Islamic Economy to ensure that it provides a solid foundation for growth and prosperity.”

“We are honoured to launch the official digital portal of the first global oasis for innovation in Islamic economic products, in collaboration with DAFZA which is one of the main players in positioning Dubai as a leader on the global Islamic Economic map as it provides an ideal investment environment for attracting top companies around the world specializing in services and products conforming to the provisions of Islamic Sharia,” Dr. Al-Atram added.

The 'Oasis of Innovation in Islamic Economy' which was launched at the International Innovative Platform for Islamic Economy Products (IIPIEP) 2015 organized recently by the International Centre of Islamic Economy in partnership with DAFZA and in conjunction with UAE Innovation Week 2015 which was held in line with H.H. UAE President Sheikh Khalifa bin Zayed Al Nahyan's declaration of 2015 as the 'Year of Innovation.' Innovation Week is a pioneering initiative launched by H.H. Sheikh Mohammed bin Rashid Al Maktoum. Besides the 'Oasis of Innovation in Islamic Economy', the IIPIEP 2015 also unveiled other creative ideas such as the 'Endowment Bank' and 'Cash-Financing Through Telecom Services’ which will help in further developing innovative and pioneering Islamic services and products. Details and information on 'Oasis of Innovation in Islamic Economy' can be obtained by visiting the website, www.oasisincubator.ae.