Financial Services

The Halal Products Development Company (HPDC), in partnership with DinarStandard, has launched the Saudi Arabia’s Halal Market Opportunity Report 2024/2025. The report highlights how the Kingdom, building on its deep cultural and spiritual heritage and guided by Saudi Vision 2030, is uniquely positioned to lead the global halal product and lifestyle economy.

With the theme “Unlocking Opportunity”, the ninth edition of the State of the Global Islamic Economy Report, focuses on post COVID-19 recovery as the report continues to cover the sectors of Islamic finance, halal food and beverages, halal cosmetics, halal pharmaceuticals, Muslim-friendly travel, modest fashion, and Islamic-themed media and recreation. The report, which is produced by DinarStandard and is supported by the Department of Economy and Tourism (DET) in Dubai addresses developments as well as challenges and opportunities for those sectors.

The global Islamic Fintech market is estimated at $79 billion in transaction volume (2021) and is expected to grow on average by 18% annually, to reach $179 billion by 2026.

The eight edition of the State of the Global Islamic Economy Report, continues to cover the following sectors: Islamic finance, halal food and beverages, halal cosmetics, halal pharmaceuticals, Muslim-friendly travel, modest fashion, and Islamic-themed media and recreation. The report, which is produced by DinarStandard and is supported by Dubai Islamic Economy Development Centre (DIEDC) addresses developments as well as challenges and opportunities for those sectors pre and post-COVID-19.

The Zakat industry has the potential to play a much greater role and to transform the lives of 68.5 million refugees and other displaced persons around the world, of which 40.8 million are Muslim.