Dubai ruler Sheikh Mohammed bin Rashi Al - Maktoum passed legislation founding the Islamic economic development center that will help lift the emirate as a world capital for Islamic finance , trade and food and sharia -based Islamic tourism .
The media office ruling on Wednesday , Sheikh Mohammed who is also vice president and prime minister of the United Arab Emirates ( UAE ) ordered to establish a central board of directors chaired by Minister of the UAE Cabinet Affairs Mohammed Al - Gergawi .
Islamic Center will promote the economic development of Dubai as a center of Islamic banking and Islamic financial services such as non - kosher food , family travel to Muslim or Islamic dress conservatively .
Last January , the ruler of Dubai government said the country aims to raise the profile of the emirate as a global center of Islamic economic issues .
Emirates safe haven for Islamic banks with the regulation of the oldest in the Arab Gulf region and one of the largest manufacturers of kosher food in the world are manufactured in accordance with the Shariah guidelines .
Islamic banks are not allowed to charge interest .
Dubai compete with Kuala Lumpur and London as a global center of Islamic economics , Xinhua said .
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