Malaysia — New Silicon Valley for the Global Islamic Digital Economy

Kuala Lumpur — The world’s first Digital Free Zone Initiative was announced. The news was announced by Jack Ma, Prime Minister of Malaysia and CEO of Malaysia Digital Economy Corporation. It is scheduled for launch in mid-2017.

This announcement comes in the wake of an MOU signed by MavCap and Elixir Capital to set up a $250 million Global Islamic Economy Fund to nurture an end-to-end ecosystem within the Islamic economy. The partnership was announced at the inaugural Global Islamic Economy Entrepreneurship Convention and formalised in December 2016.

Thomson Reuters announced last year that Malaysia was the world’s most advanced Islamic economy. Now, Malaysia is...