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The halal economy plays an important role in Malaysia¡¯s economic growth, contributing 7.5 percent to the Gross Domestic Product (GDP) as of 2020. Under the Twelfth Malaysia Plan, 2021-2025 (12MP), one of the key strategies to boost Malaysia¡¯s economic growth is enhancing the competitiveness of the halal industry to capture a more significant share of the global halal market. Malaysia's halal certification is globally recognized and is considered a valuable and credible resource providing a significant competitive advantage for Malaysian firms in the international arena. With the prospect of Muslim spending reaching USD2.4 trillion by 2024 at a 5-year Cumulative Annual Growth Rate (CAGR) of 3.1%, the halal economy presents a huge opportunity for Malaysian enterprises. Malaysia¡¯s highly developed Islamic finance market offers a diverse range of financial products and services and have been recognized as one of the five key enablers outlined in Malaysia¡¯s Halal Industry Master Plan. This report explores how Islamic finance can further contribute towards the development of Malaysia¡¯s halal economy.