Kuala Lumpur, Malaysia, 4 July 2025 – A pivotal technical meeting was recently convened in Kuala Lumpur, marking a significant step forward for the "Advancing the Islamic Digital Economy in Malaysia: Developing a Comprehensive Conceptual Framework" program.

This initiative, aiming to pilot an Islamic Digital Economy (IDE) framework in Malaysia with a vision for future replication across other IsDB Member Countries, saw the core working team from INCEIF University led by Assoc. Prof. Dr. Kinan Salim and Ms. Ruslena Ramli formerly Director, Fintech and Islamic Digital Economy, Malaysian Digital Economy Corporation (MDEC), collaborate with the Islamic Development Bank through its Center of Excellence in Kuala Lumpur (KLCoE).

The meeting served as a crucial platform to gather technical inputs from the KLCoE, drawing upon the IsDB's extensive experiences in developing Islamic economic ecosystems within its member countries. Discussions centered on garnering effective lessons learned, identifying challenges, and outlining key requisites for the successful development of an effective Islamic digital economy.

Providing insights from the KLCoE were Mr. Syed Faiq Najeeb, Mr. Ali Sen, and Mr. Johan Khalidi Mohd Mokhtazar. The KLCoE team shared their expertise and answered questions, which were instrumental in shaping the comprehensive definition and conceptual framework for the IDE, which aims to be a strategic tool for policy development and economic growth. The framework will integrate the traditional Islamic economy with the digital economy, emphasizing ethical and Shariah-compliant digital activities across various sectors.

The IsDB, through the KLCoE, is a strategic technical partner in this program, leveraging IsDB’s decades of experience in Islamic economics, the financial sector, and halal economy development and capacity-building initiatives across numerous countries. This partnership underscores a shared commitment to fostering the growth of a robust Islamic digital economy, starting with Malaysia as a pioneering model.