KUALA LUMPUR: The government has allocated RM20 million to stimulate research and innovation in the Islamic economy.
Prime Minister and Finance Minister Datuk Seri Anwar Ibrahim said this effort will be led by the International Centre for Education in Islamic Finance (INCEIF) with the joint involvement of the Malaysia International Islamic Financial Centre (MIFC) and the industry.
"Malaysia has remained in the first position in the global Islamic Finance Development Indicator (IFDI) for 10 years in a row.
"MIFC will continue to strengthen the country's competitiveness in the field of Islamic finance in addition to highlighting Malaysia as a prime destination for Islamic fund acquisition and investment activities as well as a re-takaful hub," he said when tabling the 2024 Budget.