DUBAI: Prime Minister Datuk Seri Najib Razak said the launch of Zilzar.com, the world's first Muslim lifestyle marketplace e-commerce platform for global information, content, community, and trade can fuel the  Islamic economy, as it brings together the halal industry and Islamic finance.

Zilzar.com is not only for business to business (B2B) but also business to consumer (B2C).

"The launch of Zilzar.com brings about a long overdue convergence [of the halal industry and Islamic finance] that could fuel the Islamic economy for decades to come," Najib said at the launch of Zilzar.com at the 10th World Islamic Economic Forum.

He added that the Muslim economy today is worth some US$7 trillion, and is the fourth largest economic block in the world, and through the Muslim trade platform, new economic opportunities can be unlocked.

"A halal [certification] bonds Muslims throughout the world and forms part of our identity, but it can also have a much wider feel, in Malaysia halal certified goods and services are everywhere, and they are used by everyone regardless of religion," said Najib.

He said Malaysia's diversity is one of the reasons why the country is so prominently represented in the global halal market.

"We are used to creating products which are shariah-compliant but also consumer friendly and [we are] building the ecosystem and institutions to support them, that of course includes Islamic finance," said Najib.

He added that although it will be difficult for Zilzar.com to emulate Chinese e-commerce giant Alibaba Group Holdings Inc, he hopes the Muslim marketplace will create new businesses and jobs, as well as strengthen the presence of Islamic finance in the market.