The halal economy plays an important role in Malaysia’s economic growth, contributing 7.5 percent to the Gross Domestic Product (GDP) as of 2020. Under the Twelfth Malaysia Plan, 2021-2025 (12MP), one of the key strategies to boost Malaysia’s economic growth is enhancing the competitiveness of the halal industry to capture a more significant share of the global halal market.

Malaysia's halal certification is globally recognized and is considered a valuable and credible resource providing a significant competitive advantage for Malaysian firms in the international arena. With the prospect of Muslim spending reaching USD2.4 trillion by 2024 at a 5-year Cumulative Annual Growth Rate (CAGR) of 3.1%, the halal economy presents a huge opportunity for Malaysian enterprises.

Malaysia’s highly developed Islamic finance market offers a diverse range of financial products and services and have been recognized as one of the five key enablers outlined in Malaysia’s Halal Industry Master Plan. This report explores how Islamic finance can further contribute towards the development of Malaysia’s halal economy.

The 2-hour hybrid program, in person launch and live broadcast is expected to attract participants from relevant government agencies, regulators, policymakers, industry players and academics from Malaysia and the region.