February 23, 2026
Methodology About Newsletter
WE THE UAE 2031
The Vanderbilt Terminal for the UAE's National Transformation
INDEPENDENT GLOBAL INTELLIGENCE FOR THE UNITED ARAB EMIRATES
UAE GDP: AED 2.03T ▲ 5.7% | Non-Oil GDP Share: 84.3% ▼ -5.2pp | FDI Inflows: $45.6B ▲ 48.7% | GDP Growth: 4.0% ▲ -0.3pp vs 2023 | Inflation: 1.7% ▼ +0.0pp vs 2023 | Female Participation: 55.1% ▲ +0.6pp vs 2023 | Population: 11.0M ▲ 4.8% | Emiratisation Rate: 12.5% ▲ 2.1pp | Global Competitiveness: #7 ▲ 3 places | Clean Energy Capacity: 7.2 GW ▲ 18.4% | ADX Index: 9,842 ▲ 4.7% | DFM Index: 4,621 ▲ 6.2% | UAE GDP: AED 2.03T ▲ 5.7% | Non-Oil GDP Share: 84.3% ▼ -5.2pp | FDI Inflows: $45.6B ▲ 48.7% | GDP Growth: 4.0% ▲ -0.3pp vs 2023 | Inflation: 1.7% ▼ +0.0pp vs 2023 | Female Participation: 55.1% ▲ +0.6pp vs 2023 | Population: 11.0M ▲ 4.8% | Emiratisation Rate: 12.5% ▲ 2.1pp | Global Competitiveness: #7 ▲ 3 places | Clean Energy Capacity: 7.2 GW ▲ 18.4% | ADX Index: 9,842 ▲ 4.7% | DFM Index: 4,621 ▲ 6.2% |

Definition

Sharia compliance refers to the conformity of financial products, business operations, contracts, and institutional governance with the principles of Islamic law (Sharia). In finance, this requires avoidance of riba (interest), gharar (excessive uncertainty), maysir (gambling), and investment in haram (prohibited) activities. Sharia compliance is verified by independent Sharia boards composed of Islamic scholars who review and certify products, contracts, and operational procedures. Compliance extends beyond banking to include food certification (halal), insurance (takaful), and capital markets (sukuk).

UAE Context

The UAE has established a comprehensive Sharia compliance framework overseen by the Higher Sharia Authority under the Central Bank. All Islamic financial institutions in the UAE must maintain internal Sharia supervisory boards and comply with national standards that harmonize with international bodies such as AAOIFI (Accounting and Auditing Organization for Islamic Financial Institutions). The UAE also applies Sharia compliance in its halal economy, with certification bodies overseeing food, cosmetics, and pharmaceutical products. Dubai has positioned itself as the global capital of the Islamic economy through initiatives such as the Dubai Islamic Economy Development Centre.

Key Data

  • Regulatory authority: Higher Sharia Authority under UAE Central Bank
  • International standards: AAOIFI and IFSB compliance frameworks
  • Scope: Banking, insurance, capital markets, halal food, pharmaceuticals
  • Certification bodies: Multiple approved halal and Sharia certification agencies
  • Islamic economy initiative: Dubai Islamic Economy Development Centre

Significance for Vision 2031

Sharia compliance is integral to the UAE’s Vision 2031 as it supports the growth of Islamic finance, the halal economy, and ethical investment. The UAE’s ambition to lead the global Islamic economy requires robust compliance infrastructure that builds international trust and attracts capital from Muslim-majority markets. Standards harmonization and fintech-enabled compliance solutions are key priorities for maintaining the UAE’s competitive advantage.

  • Islamic Banking - Sharia-compliant financial services
  • Murabaha - Cost-plus Islamic financing instrument
  • Ijara - Islamic leasing arrangement
  • Takaful - Islamic cooperative insurance