The Governor of the Central Bank chairs the first meeting of the Committee for the Development of Islamic Finance and the Halal Industry

The Governor of the Central Bank of the United Arab Emirates, Khaled Mohammed Balama, chaired the first meeting of the Committee for the Development of Islamic Finance and Halal Industry, which was established pursuant to a Cabinet decision issued in 2025, during which the committee’s work system, mechanisms for implementing its tasks, and strategy implementation plans for the years 2025-2026 were discussed and approved, in addition to reviewing strategic projects aimed at strengthening the UAE’s position as a leading global center in Islamic finance and industry. Halal and sustainable Islamic philanthropy.

The meeting was attended by members of the committee: Younis Haji Al-Khouri, Undersecretary of the Ministry of Finance, Omar Suwayna Al-Suwaidi, Undersecretary of the Ministry of Industry and Advanced Technology, Abdullah Ahmed Al Saleh, Undersecretary of the Ministry of Economy and Tourism, Muhammad Abdulrahman Al-Hawi, Undersecretary of the Ministry of Investment, Fahd Siddiq Al-Gergawi, Acting Undersecretary of the Ministry of Foreign Trade, Ahmed Saeed Al-Qamzi, Assistant Governor of the Central Bank – Banking and Insurance Supervision, and Walid Saeed Al-Awadhi, CEO of the Securities and Exchange Commission. Finance and Commodities, Ahmed Rashid Al Neyadi, Director General of the General Authority for Islamic Affairs, Endowments and Zakat, and Arif Mohammed Amiri, CEO of the Dubai International Financial Center Authority, representing the Government of Dubai.

The committee approved plans to implement the initiatives and projects specified in its strategy for the years 2025-2026, in addition to approving the establishment of subcommittees that work to enhance the work of the Committee for the Development of Islamic Finance and the Halal Industry through coordination with ministries, federal and local authorities, institutions and companies concerned in the private sector, and submitting periodic reports to the committee regarding the implementation of the strategy.

These committees include the Subcommittee on the Islamic Finance Industry, headed by the Central Bank, the Subcommittee on the Halal Industry, headed by the Ministry of Industry and Advanced Technology, and the Subcommittee on Islamic Charitable Work and Sustainable Finance, headed by the General Authority for Islamic Affairs, Endowments and Zakat.

Commenting on the meeting, Khaled Mohammed Balama, Governor of the Central Bank, Chairman of the Committee, stated: “The development of Islamic finance and the halal industry is a fundamental pillar of the country’s comprehensive development vision, with the aim of enhancing the economic diversification strategy, and developing the country’s competitiveness and leadership position in global markets. We are working through this committee to embody the aspirations of the wise leadership, and achieve the objectives of the UAE strategy for Islamic finance and the halal industry by enhancing the integration between Islamic finance and the halal industry.” The halal industry and sustainable Islamic charitable work, in addition to integration with regional and international markets, developing financial and commercial institutions capable of competing globally, in accordance with best international practices and standards, and facilitating Islamic finance activities, which include banking, takaful, sukuk, non-banking financial services, and others. We value the role of the participating parties, the efforts of the committee members, and the constructive cooperation with the private sector to achieve the strategic goals and implementation The initiatives and projects specified therein are to consolidate the UAE’s position as a leading global center in the fields of Islamic finance, the halal industry, and sustainable Islamic philanthropy.”