MDEC Will Be Leading A Delegation To Expo 2020 Dubai

The halal industry is expected to be valued at US$5 trillion by 2030.
(Credit: New Straits Times).

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The Malaysian Digital Economy Corporation (MDEC) will be sending a delegation of 20 companies to the Expo 2020 Dubai from 9 to 15 Jan 2022.

Its Chief Executive Officer, Mahadhir Aziz, says the members includes companies from the Islamic financial technology (Fintech) industry such as:

  • MicroLEAP – an Islamic and conventional microfinancing platform regulated by the Securities Commissions Malaysia.
  • TheNoor – Neelofa’s Muslim lifestyle app.
  • Wahed Technologies – a digital Islamic investment management company.

In 2020, Organisation of Islamic Cooperation countries conducted an estimated US$49 billion worth of transactions through Islamic fintech.

The whole halal industry is valued at US$3.1 trillion and is expected to grow to US$5 trillion by 2030.

While the Dinar Standard’s Global Islamic Fintech Report 2021 projected that the industry will be worth US$128 billion by 2025.

With these companies representing the country at the expo, Malaysia is ready to be a global leader in the Islamic fintech industry, says Mahadhir.

He added that the industry is important to drive towards a more progressive, inclusive and sustainable Malaysia which is in line with the 12th Malaysian Plan.

Expo 2020 Dubai is a 182 day event held at the capital city of United Arab Emirates. It began on 1 Oct 2021 to 31 Mar 2022.

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