What is Haram? The opposite of Halal is Haram, which means “unlawful, not permissible or prohibited.” The following categories are Haram:  Alcohol – intoxicants and narcotic drugs Blood and blood by-products – blood is the circulatory cleansing fluid of the body and is not to be consumed Carnivorous animals, birds of prey, scavengers, and animals […]

What is Halal? Halal is an Arabic word meaning lawful or permitted. In reference to food, it is the dietary standard, as prescribed in the Qur’an (the Muslim scripture). The opposite of halal is haram, which means unlawful or prohibited. Halal and haram are universal terms that apply to all facets of life. These terms are […]

The Standards and Metrology Institute for the Islamic Countries (SMIIC) has released a standard for Halal Tourism Services. The Organisation of Islamic Cooperation (OIC) body said on Monday (Dec 6) that OIC/SMIIC 9:2019, Halal Tourism Services – General Requirements aims to ensure that products and services provided for Muslim travelers are in accordance with Islamic rules. […]

The State of the Global Islamic Economy Report is now in its seventh Annual Edition and shines an ever-strong spotlight on the 1.8 billion Muslim consumers around the world. This year’s report estimates that Muslims spent US$2.2 trillion in 2018 across the food, pharmaceutical and lifestyle sectors that are impacted by Islamic faith-inspired ethical consumption […]

Description The State of the Global Islamic Economy report since 2013 has covered the key sectors that are structurally affected by Islamic teachings and requirements: Islamic finance, Halal Food and Beverages, Halal Pharmaceuticals, Halal Cosmetics, Muslim-friendly travel; Modest fashion; Islamic-themed media and recreation. Despite the havoc wreaked by COVID-19, the past year saw many notable […]

Global Islamic finance industry assets to reach $3.69 trln by 2024 from $2.88 trln in 2019 – study What were the biggest developments in the global Islamic finance industry in 2019-2020? The State of the Global Islamic Economy 2020/21 report from DinarStandard gives a detailed breakdown of the movements in the industry, with the headline […]

The COVID-19 pandemic will result in an estimated 8% decrease in Muslim expenditure between 2019 and 2020 in the Islamic economy sectors ex-finance, according to the State of the Global Islamic Economy 2020/21 report from DinarStandard.  The report estimates Muslims spent $2.02 trillion in 2019 across the food, pharmaceutical, cosmetics, fashion, travel and media/recreation sectors, up 3.2% […]

What were the biggest developments in the global halal food industry in 2019-2020? The State of the Global Islamic Economy 2020/21 report from DinarStandard gives a detailed breakdown of the movements in the industry, with the biggest developments being national halal strategies and the impact of COVID-19.  MARKET SIZE The three biggest F&B consumer markets […]

What were the biggest developments in the global Muslim-friendly travel industry in 2019-2020? The State of the Global Islamic Economy 2020/21 report from DinarStandard gives a detailed breakdown of the movements in the industry, with the headline being the adverse impact the COVID-19 pandemic has had on the world’s travel industry.  MARKET SIZE Muslims globally spent […]

COVID-19’s Global Impact on GDP and Employment  The global economy is forecast to shrink by 5.2% in 2020, making this  the steepest global recession since World War II  According to the World Bank’s baseline forecast, the global economy is forecasted to shrink by 5.2% in 2020,the steepest global recession since WWII, and nearly triple […]