Modern waqf rises; IFANCA stresses food future

July 25, 2025

Pulse of the Global Islamic Economy

Muharram 30, 1447 AH

Assalamualaikum,

This week, we spotlight two powerful stories rooted in Islamic values of care, dignity, and community, values that feel especially urgent in today’s fractured world.

In pockets of the Islamic world, a quiet revival of waqf is reshaping how Muslim communities approach funeral care. From micro-endowments to mutual aid models, new platforms are helping ensure that death is met not with debt, but with dignity. At the heart of these efforts is a return to the spirit of shared responsibility that once defined our end-of-life traditions.

Meanwhile, in the U.S., IFANCA’s 22nd International Halal Food Conference brought together global stakeholders to tackle another pressing challenge: how to build food systems that are not only halal, but also ethical, inclusive, and sustainable. From addressing food insecurity among Muslim children to advocating for culturally appropriate meals in public institutions, IFANCA’s work shows how halal certification can be a force for equity.

Both stories remind us that Islamic economics was never just about transactions, rather it was about compassion in action.

State of the Global Islamic Economy (SGIE) Report 2024/25

The 11th edition of the State of the Global Islamic Economy (2024/25) Report highlights $2.43 trillion in spending across six key sectors in 2023—halal food, cosmetics, pharmaceuticals, Muslim-friendly travel, modest fashion, and Islamic media—driven by faith-aligned, ethical consumption trends worldwide.

The SGIE report 2024/25 has been produced in partnership with SalaamGateway.com. The report’s Thought Leadership Partner is the Islamic Development Bank Institute (IsDBI), and its Global Strategic Partner is the Islamic Food and Nutrition Council of America (IFANCA). LSEG Data & Analytics serves as the Islamic Finance Data Partner, while Duopharma is the Bronze Partner.

Why it matters?

  • Stay ahead of key trends shaping the Islamic Economy

  • Gain actionable insights to drive growth

  • Hear directly from global industry leaders

  • Be among the first to explore this year’s findings

Did you know?

In 2023, the global Muslim population surpassed two billion, accounting for 25% of the world’s population. This share is projected to rise steadily, reaching 2.2 billion (26.4%) by 2030 and 2.8 billion (29.7%) by 2050, reflecting one of the fastest-growing demographic trends worldwide.

Your feedback matters:

What did you think about today’s email? Your feedback is our guiding star to deliver top-notch content straight to your inbox.

Login or Subscribe to participate in polls.