Islamic Economy Option: SWOT Case Study Analysis

Suzanna Sobhy ElMassah, Zayed University

Document Type

Article

Source of Publication

Advances in Management & Applied Economics

Publication Date

3-15-2015

Abstract

The 21-century world has come up with new face that calls for innovative ways to gain power. Soft power is second face of power that allows obtaining desired result by attracting and co-opting others rather than coercing them. Islamic Economy deals with billions of dollars in several sectors that will be affected by Islamic based principles, which will have a massive effect on the worldwide trade. Currently, there is no Muslim society that strictly follows the entire Islamic laws. This paper investigates the feasibility of applying Islamic economic option within the conventional world economy. United Arab Emirates is one of those governments that seek unorthodox innovative solutions. It has recently launched Dubai, the Capital of Islamic Economy initiative. This paper analyses the merits for Dubai to achieve that title and it formulates strategies that Dubai should apply to achieve that goal.

Volume

5

Issue

3

First Page

63

Last Page

83

Disciplines

Business

Keywords

Islamic Economy, Soft Power, United Arab Emirates, Dubai, SWOT analysis

Indexed in Scopus

no

Open Access

yes

Open Access Type

Bronze: This publication is openly available on the publisher’s website but without an open license

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