STATE OF THE GLOBAL ISLAMIC ECONOMY 2013
STATE OF THE GLOBAL ISLAMIC ECONOMY 2013 Download View

The Islamic economy in its totality currently represents all of these sectors and more. As the concept of the Islamic Economy gains greater traction, these Foreword 4 foreword sectors will continue to diversify and mature. In the same way that the parameters of the halal food sector have expanded over the past decade to include sub-sectors like logistics or marketing, the Islamic finance sector is likely to expand to include microfinance, crowdfunding and venture capital as identifiable subsectors. Yet, defining the sectors of the Islamic economy in specific terms is also a challenge of sorts, for it is more than just the sum of its parts; it has its own intrinsic reality. The diverse elements of the Islamic economy have an inherent relationship with each other in that they are all parts of a greater whole; this is why the dissolution of the silo walls between the sectors, such as between food and finance, is an important element of the maturation of the Islamic economy. Indeed, it is important to see the Islamic economy within the full context of the broader message of Islam as something that is of relevance to everyone, not just to a specific group or sector. This is why His Highness’ announcement is groundbreaking and this study as a sequel to that announcement is critical. For years, sectors serving Muslim consumers have been viewed, and indeed have existed, in silos, covering separate aspects of the broader Islamic economy such as Halal food or Islamic finance, but it has never really been seen as a composite whole. 

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