29 Jun, 22

Muslim expenditure in global Islamic economy to fall 8% in 2020 due to COVID-19 – study

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% […]
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29 Jun, 22

Not anytime soon: Muslim expenditure on travel will only reach pre-pandemic levels by 2023 – study

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 […]
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29 Jun, 22

COVID-19: Impact on the Islamic Economy

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 […]
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29 Jun, 22

THE CIRCLE H INTERNATIONAL SHARIA ADVISORY COUNCIL ANNOUNCES GROUNDBREAKING HALAL CERTIFICATION GLOBAL EQUITY INITIATIVE 2021-2022

Circle H Now Protects and Supports Muslim Consumer Access and Business Development Worldwide New York; Cairo; Ridyadh; Abu Dhabi; Jakarta; London; Islamabad; Kuala Lumpur:   100 Morris Avenue Springfield, NJ 07081, United States, Oct. 12, 2021 (GLOBE NEWSWIRE) — The Circle H Sharia Advisory Council (“Council”) is pleased to announce and support the groundbreaking  Circle H […]
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29 Jun, 22

Korean-Indonesian JV’s MUI halal status for biopharma product derived from animal cells not protected by nat’l halal authority – BPJPH head

JAKARTA – A Korean-Indonesian joint venture has received what is believed to be the world’s first halal certification for a biopharmaceutical product derived from animal cells but the halal status cannot be vouched for by Indonesia’s halal authority.Daewoong Infineon, a JV between Korea Exchange-listed Daewoong Pharmaceutical and Indonesian company Infion, secured halal certification for its […]
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29 Jun, 22

Investree announces second round ‘green financing’ partnership with Java Mountain Coffee, empowering indigenous rural women

Bali, Indonesia, September 2019 – Investree (PT Investree Radhika Jaya), Indonesia’s leading marketplace lending, announces a second round ‘green financing’ partnership with social enterprise Java Mountain Coffee, to enable Java Mountain Coffee offer guests of Four Seasons Resorts Bali farm fresh sustainable Indonesian coffee filled into biodegradable coffee capsules. This second round ‘green financing’ partnership […]
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29 Jun, 22

Global Islamic Economy Key Drivers

“Muslim consumers globally, while culturally diverse and geographically distributed, drive a cohesive two-trillion-dollar market opportunity across a range of lifestyle products and services, impacted by Islamic faith-inspired ethical needs, and collectively known as the “Islamic Economy.”  Introduced in 2013, this report defines Islamic economy as “sectors whose core products/ services are structurally affected by Islamic […]
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