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:


Islamic Finance

Represented by RM16.2 trillion Islamic assets end-2021



Represented by Halal export RM5.7 trillion and contributed 8.1% to total GDP end-2021



Represented by consumerism in Halal travel and digital content

*Source : State of the Global Islamic Economy Report 2022

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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 2021RM trillion
Islamic Banking0.98
Islamic Capital Market2.31
Islamic AUM Funds0.22


  • 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.


  • 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.
*Source : State of the Global Islamic Economy Report 2022
*Rate of conversion as per 2022 (1USD = RM4.90)

Current state of Malaysia’s IDE landscape

This report outlines Malaysia's current IDE landscape, highlights key challenges, and explores vital steps to foster Malaysia’s IDE as a new catalyst.

IDE Report file

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.

Innovation partners
Funding partners
Technology & Business partners
Regulatory & Government partners

IDE Top 45 Companies

What is MD Tasree`?

MD Tasree` (pronounce as tasriaq) is an initiative by MDEC to advocate and facilitate the growth of the Islamic Digital Economy under the MD promoted sector through a public-private partnership mechanism. MD Tasree` aims to create a dynamic ecosystem for Islamic Digital Economy players to accelerate the development and adoption of Shariah-compliant products and services by leveraging digital technologies and solutions.

Focus Areas under MD Tasree`

More updates coming soon!

Join our IDE Community today!

Register your interest now to be part of MDEC’s IDE Community