Quest Ventures part of launch of world’s first digital framework for Islamic economy

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Gulf Times

Malaysia, home of the world’s largest Islamic finance industry, is taking the idea of creating a comprehensive Islamic economy a step further and announced it will launch a debut “Islamic Digital Economy Framework” by March next year as a growth backbone for its entire halal industry.

The driving force behind the Islamic digital initiative is the Malaysian Digital Economy Corp, or MDEC, a government-backed entity which is seeking to create a growth ecosystem for the Islamic economy in Malaysia in accordance with the government’s national strategy to tap the potential of both the Islamic and the digital economy.

Singapore-based Quest Ventures, which invests in Internet-related technology startups, as well as Jakarta-based Ethis Ventures, which invests in and supports Islamic crowd funding platforms, are among the three venture capital firms participating.

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