Petronas Tower in Malaysia (Photo: https://indonesiawindow.com/) Kuala Lumpur (VNA) – Malaysia continues to lead the rankings in Islamic economy andfinance by the GlobalIslamic Economy Indicator (GIEI) for the eighth consecutive year.
According to the Global Islamic Economy report in 2020, the Islamic FinTech and economy sectors of Malaysia continue toflourish aided by governmental support and Malaysia Digital EconomyCorporation (MDEC)'s continuous push to expand economic digitalization and anaggressive creation of a conducive ecosystem for which it can thrive on.
For years, the Malaysian Government hasidentified Islamic finance and Islamic digital economy as key economic growth activitiestowards achieving and maintaining its position as the global Islamic FinTechhub.
The Southeast Asian country is the largest Sukuk issuer in the world as well ashaving one of the best Halal standards globally.
According to MDEC Vice President GopiGanesalingam, these global recognitions pave the way for Malaysia to continueto lead as the global Islamic FinTech hub.
With its strong digital economy ecosystem withinthe Organisation of Islamic Cooperation (OIC) member nations, Malaysia has comparativeadvantages over others in providing Shariah-compliant Islamic finance andFinTech services globally, he said./.
VNA
