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MDEC: $2.8tn ripe for digitalisation in global Islamic economy

Muslims worldwide estimated to spend $2.8tn by 2025 on Islamic faith-inspired consumption needs – and Malaysia looks to capture digitalisation opportunities in the sector through MDEC. The economic and business opportunities in the global Islamic Digital Economy (IDE) is undeniably immense. According to the State of the Global Islamic Economy Report 2022 by DinarStandard, Muslims worldwide spent an estimated $2tn in 2021 on food, pharmaceuticals, cosmetics, modest fashion, travel, and media – all of which having its own fair share of contribution to a borderless IDE.

Link: https://gulfbusiness.com/how-malaysias-mdec-is-spearheading-the-countrys-digital-agenda/

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