Islamic investment deals in UAE hit $1.53bln
The transactions between 2023 and 2024, include 50 mergers and acquisitions, as well as private equity and venture capital deals, according to US-based research and advisory firm DinarStandard, which has produced the 11th edition of the State of the Global Islamic Economy (SGIE) report.
The UAE deals form part of the so-called 'global halal economy' which was estimated to be worth $7.3 trillion in 2023. The value includes spending among Muslim consumers, approximately $2.4 trillion, and Islamic finance assets worth $4.9 trillion.
Overall, the amount of capital deployed to Islamic-economy-relevant businesses reached $5.8 billion spread across 225 deals in 2023/24.
In terms of value, the UAE landed the second spot after Indonesia, which took the lead with 40 deals valued at $1.6 billion. Saudi Arabia came in the third spot with 34 deals worth $1.08 billion.
The research also highlighted the UAE's major contribution to the overall Islamic economy, as it's ranked fourth place in the Global Islamic Economy Indicator (GIEI). This strong performance has been associated with the country's high levels of trade connectivity, export capacity and innovation.
'The UAE's combination of deep trade networks, ambitious digital and AI agendas and fast-scaling halal manufacturing capacity positions it as one of the most influential hubs in the global Islamic economy,' said Rafi-uddin Shikoh, CEO and Managing Partner of DinarStandard.
Islamic investment deals in the UAE, particularly M&As, PE and VC, have been taken into account to rank the country's strength relative to the overall global Islamic economy.
DinarStandard's latest analysis has been completed in coordination with SalaamGateway.com, Islamic Development Bank Institute (IsDBI) and Islamic Food and Nutrition Council of America (IFANCA).
(Writing by Cleofe Maceda; editing by Seban Scaria)
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