Dubai, the second-biggest member of the United Arab Emirates, plans to create an Islamic finance council to regulate Shariah-compliant equity and fixed-income products to boost the industry’s role in the economy.
Dubai, which derives about 11 percent of economic output from financial services, wants to make Islamic finance a “core industry,” Sami Al Qamzi, director general of the Dubai Department of Economic Development, said……………………………………….Full Article: Source