Halal cosmetics rise; MENA funding spikes; Fasset goes global

Pulse of the Global Islamic Economy

Rabi ‘ll 25, 1447 AH

Assalamualaikum,

Halal beauty is going mainstream as faith-conscious consumers drive an $87 billion industry built on purity, ethics, and performance. In our editor’s pick, we look at ten Muslim-friendly cosmetic brands redefining purity, ethics, and innovation in personal care.

In business, MENA’s startup scene is booming — funding jumped 523% in the last quarter, led by Saudi Arabia’s record-breaking fintech and proptech deals.

And in Malaysia, Fasset is breaking new ground with the world’s first stablecoin-backed Islamic digital bank, marking a major step toward a more inclusive, Shariah-compliant financial future.

Did you know?

Despite global slowdown, intra-OIC trade rose 1.23% to $884 billion in 2023, supported by higher commodity prices, exchange rate shifts, regional tensions, and stronger local production.

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