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State of the Global Islamic Economy 2020/21 Report

<p>This is the eighth edition of the State of the Global Islamic Economy Report, that was first published in 2013. The report covers these sectors: Islamic finance, halal food and beverages, halal cosmetics, halal pharmaceuticals, Muslim-friendly travel, modest fashion, and Islamic-themed media and recreation. This year&rsquo;s report estimates that Muslims spent $2.02 trillion in 2019 across the food, pharmaceutical, cosmetics, fashion, travel and media/recreation sectors, all of which are impacted by Islamic faith-inspired ethical consumption needs. This spending reflects a 3.2% year-on-year growth from 2018. In addition, Islamic finance assets were estimated to have reached $2.88 trillion in 2019. The pandemic is forecasted to result in an 8% decrease in global Muslim spending in 2020 for the Islamic economy sectors covered in this report. All of these sectors, except travel, are expected to return to pre-pandemic spend levels by the end of 2021. Muslim spend is forecasted to reach $2.4 trillion by 2024 at a 5-year Cumulative Annual Growth Rate (CAGR) of 3.1%.</p>


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Media Mentions

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16 Nov 2020
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18 Nov 2020
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23 Nov 2020
24 Nov 2020
26 Nov 2020
02 Dec 2020
14 Dec 2020
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23 Dec 2020
26 Jan 2021

Photo Gallery

Dubai, UAE, Nov 16: Rafi-uddin Shikoh, MD of DinarStandard, presenting the key findings at the official launch of the State of the Global Islamic Economy 2020/21 report at NASDAQ Dubai.

Dubai, UAE, Nov 16: The official launch of the State of the Global Islamic Economy 2020/21 report at NASDAQ Dubai where the bell was rung by H.E. Sultan Al Mansouri, chairperson of the Dubai Islamic Economy Development Centre.

Jakarta, Indonesia, Nov 17: Abdulla Al-Awar, CEO of the Dubai Islamic Economy Development Centre, at the virtual Indonesia launch of the State of the Global Islamic Economy 2020/21 report

Jakarta, Indonesia, Nov 17: Indonesia Vice President Ma’aruf Amin virtually launching the State of the Global Islamic Economy 2020/21 report and its Executive Summary in Bahasa Indonesia

Rafiuddin Shikoh and Simeen Mirza of DinarStandard, Seri Azalina Mohd Ghazalli of DuoPharma, Norhizam Kadir of MDEC, Hussam Sultan of CIMB Islamic and Dhaliff Anuar of HDC's Halal Consultancy during the Kuala Lumpur virtual launch of the SGIE 2020/21

Rafi-uddin Shikoh, CEO of DinarStandard, presenting Malaysia's position on the Global Islamic Economy Indicator at the Kuala Lumpur virtual launch of the SGIE 2020/21 on Nov 18

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State of the Global Islamic Economy 2019/20
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