global islamic economy - Dubai Islamic Economy Development Centre

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State of the

GLOBAL ISLAMIC ECONOMY 2014 - 2015 Report

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TABLE OF CONTENTS

4 Executive Summary 12 Acknowledgements 16 Report Purpose and Methodology 20 The Global Islamic Economy Overview THE GLOBAL ISLAMIC ECONOMY — KEY SECTORS AND CONNECTIVITY 22 DEVELOPING BUSINESS AND CONSUMER DRIVERS 25 A DAY IN THE LIFE OF HALAL LIFESTYLE-DRIVEN MUSLIM CONSUMERS 28

158 Fashion Sector THE MODEST FASHION INDICATOR (MRI) 164 DEMAND PROFILE AND MARKET SECTORS 166 CURRENT LANDSCAPE AND TRENDS 168 KEY CHALLENGES AND OPPPORTUNITIES 170 SPECIAL FOCUS: CLOTHING E-COMMERCE 172 INTERVIEWS AND CASE STUDIES 180

186 Media and Recreation Sector

36 The Global Islamic Economy Indicator (GIEI)

THE HALAL MEDIA AND RECREATION INDICATOR (MFI) 190 DEMAND PROFILE AND MARKET SECTORS 192 CURRENT LANDSCAPE AND TRENDS 194 KEY CHALLENGES AND OPPORTUNITIES 198 SPECIAL FOCUS: ISLAM-THEMED MEDIA GENRES — BROADCAST AND RAMADAN (‘MUSALSALATS’) 200 INTERVIEWS AND CASE STUDIES 206

40 Halal Food Sector

218 Pharmaceuticals and Cosmetics Sector

THE HALAL FOOD INDICATOR (HFI) 46 DEMAND PROFILE AND MARKET SECTORS 48 CURRENT LANDSCAPE AND TRENDS 52 KEY CHALLENGES AND OPPORTUNITIES 58 SPECIAL FOCUS: HALAL FOOD LOGISTICS 60 INTERVIEWS AND CASE STUDIES 66

76 Islamic Finance Sector PERSPECTIVES: DUBAI FINANCIAL MARKET (DFM), NASDAQ DUBAI, EMIRATES ISLAMIC BANK 80 THE ISLAMIC FINANCE INDICATOR (IFI) 88 DEMAND PROFILE AND MARKET SECTORS 9