ISLAMIC FINANCE 11
AlHuda-Soltesz certification deal
July-August. 2025 | @ Halal
ISLAMIC FINANCE 11
Halal finance roadmap
• The UAE aims to increase Islamic bank assets to US $ 687 billion and sukuk issuances to over US $ 179 million.
• The strategy links Islamic finance and halal trade to position the UAE as a global hub for Shariah-compliant finance.
• A central bank-led committee will oversee the plan, reinforcing the UAE’ s economic leadership.
STRATEGIC BOOST: The UAE Cabinet approves a national strategy to elevate Islamic finance and the halal industry, reinforcing its global leadership in Shariah-compliant sectors.
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BY FARISHA RAHMAN
IN a move that reinforces its status as a global centre for Shariah-compliant finance and halal trade, the United Arab Emirates( UAE) Cabinet has approved a national strategy for Islamic finance and the halal industry.
The plan was announced during a Cabinet meeting chaired by Sheikh Mohammed Rashid Al Maktoum, who serves as the Vice President, Prime Minister, and Ruler of Dubai.
This strategic initiative aims to boost the country’ s reputation as a leader in Islamic finance and significantly grow the global reach of the halal sector. A primary goal is to increase the assets of Islamic banks in the UAE from US $ 268 billion to US $ 697 billion within the next six years. The plan also seeks to raise the value of Islamic sukuk issuances listed in the UAE to over US $ 179 million by 2031.
According to Sheikh Mohammed,
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the aim is to develop the Islamic finance sector, lead global Islamic finance initiatives, and increase halal product exports worldwide.
To ensure the successful implementation of the strategy, a high-level committee will be established under the leadership of the Governor of the UAE Central Bank. This step underscores the UAE’ s long-term dedication to economic diversification and its goal to establish the Islamic economy as a vital pillar of national development.
The strategy extends beyond financial growth. It includes broader goals, such as increasing the UAE’ s share in the global halal trade, supporting innovation in Islamic finance instruments, and establishing a regulatory environment that encourages the sustainable development of Shariah-compliant businesses. It also aims to develop local talent and foster international cooperation.
The UAE’ s emphasis on Islamic finance and the halal industry is both timely and forward-looking.
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Sheikh Mohammed Rashid Al Maktoum |
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Global demand for halal products and services continues to rise, driven by the growing Muslim population and increasing interest in ethical, faith-based consumption. This approach aligns with those global trends and further establishes the UAE’ s leadership in the Islamic economy.
Alongside the Islamic finance agenda, the Cabinet also reviewed the progress of the country’ s tourism and small and medium enterprises( SME) sectors. These sectors are closely connected to the halal economy. The UAE ranked first globally for the fourth consecutive year in the Global Entrepreneurship Monitor 2024-2025. It also recorded a 160 per cent increase in SME licences.
With this national strategy in place, the UAE is well-placed to become a global leader in Islamic finance and halal excellence, opening up new opportunities for investors, businesses, and consumers who value ethics and Shariah compliance.
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AlHuda-Soltesz certification deal
IN a significant move towards enhancing global Islamic finance education, AlHuda Centre of Islamic Banking and Economics( CIBE) has partnered with The Soltesz Institute to provide dualcertified distance learning programmes.
This strategic partnership combines Islamic finance expertise with European accreditation, opening new opportunities for professionals seeking internationally recognised qualifications.
The Soltesz Institute is a Cyprusbased, EU-accredited platform managed by PSP Angels Management Limited. It will now provide AlHuda CIBE’ s specialised Islamic finance courses through its digital platform.
Students who complete these programmes will earn two certificates, one from AlHuda CIBE and another from The Soltesz Institute. This boosts their credentials in both the Islamic and conventional financial sectors.
AlHuda CIBE Chief Executive Officer( CEO) Muhammad Zubair Mughal stated that this partnership aims to broaden access and enhance the quality of Islamic finance education worldwide.
He mentioned that by combining AlHuda’ s Islamic finance expertise with The Soltesz Institute’ s international accreditation, they are building a strong learning ecosystem. Their aim is to equip learners with the skills and knowledge needed in today’ s changing Halal and financial markets.
Since 2008, AlHuda CIBE has provided globally respected programmes, including the Postgraduate Diploma in Islamic Banking and Finance, the Certified Takaful Professional programme,
STRATEGIC ALLIANCE: Viktoria Soltesz and Muhammad Zubair Mughal exchange dual certification documents, marking a new chapter in global Islamic finance education. and the Executive Diploma in the Halal Industry. With alumni in over 110 countries, the institute plays a key role in promoting Shariah-compliant financial education that meets the practical needs of the industry.
The Soltesz Institute Director Viktoria Soltesz highlighted the growing demand for halal and Islamic finance training. She stated that the partnership allows them to provide accredited content that meets the rising need for Shariah-compliant expertise, supported by international recognition.
As the halal economy continues to grow, initiatives like this help develop a skilled and qualified workforce prepared to serve ethical financial markets. The dual certification not only boosts international credibility but also enables graduates to make valuable contributions to the Islamic finance industry across different regions.-