Dubai Export Development Corporation (EDC), an autonomous organization funded by the Government of Dubai, in association with the Australian Trade Commission, has initiated the “Islamic Financial Services Mission,” – reported BusinessIntelligence Middle East.
Other objectives of the mission are to support the participating firms through networking and matchmaking events, as well as help them spot entry strategies, joint venture allies and opening of representative offices.
The growing popularity of Islamic banking has prompted several countries to make amendments to their regulatory system, to slot in Islamic financial firms treating them at par with conventional financial institutions. Islamic banking, the latest segment in global financial services, today accounts for more than $700 billion assets across 75 countries.
Saed Al Awadi, Chief Executive Officer, EDC, said: “We are optimistic that this Islamic Financial Services Fact Finding Mission in Australia will open avenues for UAE-based companies to export Islamic products and services. EDC is constantly monitoring global markets on behalf of companies in the Emirates, and currently, we have already identified similar mission in the area of Islamic finance in Germany.”
