"CIMB Islamic is leading the development of global halal trade. From our home base in ASEAN, the intent is to connect participants across the value chain and provide greater choice to meet the demands of halal consumers worldwide."

There are currently several disconnected hubs that each operate at different stages of their development and focus on addressing the specific needs of their domestic markets, says Mustafa Adil, Head of Islamic Finance, Refinitiv.

UNHCR is one agency impacted by dwindling resources, facing a funding gap of 57% for its global operations. This is having a direct impact on its ability to deliver lifesaving assistance to those in need.

Continent’s demand for alternative finance entices Shariah-compliant gold trader

The action plan is being built based on Indonesia’s integrated approach towards the development of its Islamic economy, with the understanding that all sectors must support one another, and finance is positioned at the core.

Announcing new cabinet ministers on Oct 23, President Joko Widodo said: “Work fast, work hard and be productive”. Now, leaders of national agencies demand better implementation of plans.

14 of the 35 banks are in Indonesia and Malaysia, and all 14 have Islamic banking subsidiaries or business lines.

Delegation lace into host country’s practices and suggest Indonesia would be a better trade partner

Scholars may still be debating the worthiness of Islamic cryptocurrency, but the financial establishments hold the cards.