Tuesday, 15 Dec 2020 05:50 PM MYT
According to the report, the majority of Malaysian fintech activity has been concentrated in the wallets and payments space, where mobile and e-commerce has led to real demand from underserved consumers and merchants. wavebreakmedia/Shutterstock pic
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KUALA LUMPUR, Dec 15 Malaysia has the potential to be the world leader in Islamic financial technology (fintech) as it has shown a steady growth in fintech investments and activities, according to a report prepared jointly by the International Centre for Education in Islamic Finance (INCEIF) and two other organisations.
Local industries should boost creativity to design halal products: VP 10th December 2020
Vice President Ma ruf Amin. ANTARA/HO-Vice Presidential Secretariat/sh
Fashion, creative products, leisure and media, and Muslim-friendly tourism would need innovative and classy product designs. Of course, this is a huge potential that must be explored by designers of industrial products. Jakarta (ANTARA) - Vice President Ma ruf Amin has encouraged local industries to increase their creativity to design halal products, particularly in the fashion and tourism sectors, that hold huge potential in global trade. Fashion, creative products, leisure and media, and Muslim-friendly tourism would need innovative and classy product designs. Of course, this is a huge potential that must be explored by designers of industrial products, Amin noted in Jakarta during the conferment of the Upakarti Award 2020 held virtually on Thursday.
Islamic spend to boom
The UAE is among top three countries in Global Islamic Economy Indicator 2020-2021. Wam
The Islamic banking sector contributes the bulk of the global Islamic finance assets.
Propelled by a vibrant Islamic banking sector, global Islamic finance assets are forecast to reach $3.69 trillion by 2024, according to 2020 Islamic Finance Development Report.
The report, released by Refinitiv and the Islamic Corporation for the Development of the Private Sector (ICD), said global Islamic finance assets increased by 14 per cent year-on-year totalling $2.88 trillion in 2019.
With a $1.2 trillion in Islamic finance assets, the GCC accounted for a large share of the global total, followed by the Middle East and North Africa, excluding the GCC, at $755 billion, and Southeast Asia at $685 billion