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Malaysia ranks as top Islamic economy for 9th straight year

Global Muslim spending projected to hit $2.8tn in 2025: report

Muslims break their fast during Ramadan at a bazaar in Kuala Lumpur in May 2021. Malaysia has topped every Global Islamic Economy Indicator ranking.   © Reuters

SINGAPORE -- Malaysia ranked first among 81 countries and regions in the Global Islamic Economy Indicator for the ninth straight year, thanks to its thriving market for Islamic finance and a range of halal products and services.

The indicator, published in the annual State of the Global Islamic Economy Report by U.S.-based DinarStandard, compares economies worldwide in terms of market size, innovation and their regulatory landscape as it pertains to Islamic law.

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