Islamic Digital Economy (IDE)
A global hub for a thriving community of tech companies
Islamic Digital Economy (IDE)
A global hub for a thriving community of tech companies
Islamic Digital Economy (IDE)
A global hub for a thriving community of tech companies
Islamic Digital Economy (IDE)
A global hub for a thriving community of tech companies
Islamic Digital Economy (IDE) : An Overview
A thriving community of tech companies that serves Malaysia’s Islamic finance, Halal and Lifestyle. Malaysia is the global leader in Islamic Economy that focuses on three main pillars:
1
Islamic Finance
Represented by RM16.2 trillion Islamic assets end-2021
2
Halal
Represented by Halal export RM5.7 trillion and contributed 8.1% to total GDP end-2021
3
Lifestyle
Represented by consumerism in Halal travel and digital content
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Malaysia’s Islamic Economy
By 2025, the global Islamic economy is estimated to reach USD7.7 trillion. Malaysia can leverage its unique positioning to secure a sizeable market share via its Islamic Digital Economy.

Islamic Finance
- Islamic finance assets stood at USD3.6 trillion (RM 16.2 trillion) in 2021 and expected to grow to USD4.9 trillion (RM22.0 trillion) in 2025
- Malaysia's market share is approximately 24%:
Islamic Finance Asset 2021 | RM trillion |
---|---|
Islamic Banking | 0.98 |
Takaful | 0.46 |
Islamic Capital Market | 2.31 |
Islamic AUM Funds | 0.22 |
TOTAL | 3.97 |

Halal
- Spending on Halal food was USD1.27 trillion (or RM5.7 trillion) in 2021 and expected to grow to USD1.67 trillion (or RM7.5 trillion) in 2025
- According to 12th Malaysia Plan, Halal industry is estimated to contribute 8.1% of GDP and generate export revenue totaling to RM56 billion in 2025
- JAKIM recognises 46 countries’ foreign certification bodies.


Lifestyle
- Comprise of Shariah spending on travel, eateries, clothing, and others.
- Spending on lifestyle sectors such as travel, cosmetics, and modest fashion was USD467 billion (RM2.1 trillion) in 2021 and expected to grow to USD657 trillion (RM2.9 trillion) in 2025
- Due to Malaysia’s global leadership in Islamic economy spill over effects on lifestyle spending could promote a domino effect across supporting sectors.
*Rate of conversion as per 2022 (1USD = RM4.90)
Partnerships and Collaborations
MDEC is proactively pursuing partnerships and collaborations to facilitate scale-up opportunities and onboarding of our tech companies’ solutions into local and international Islamic finance markets.




IDE Top 45 Companies
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