Malaysia: 5th Halal Certification Bodies Convention

KUALA LUMPUR, Dec 11 (Bernama) — The 5th Halal Certification Bodies Convention 2013 will be the platform for Malaysia to expand its cooperation network with international halal certification bodies. The Malaysian Islamic Development Department (JAKIM) in a statement in the capital, Wednesday, said the three-day convention, which began on Tuesday, would bring about positive impact…



Islamic Finance set to sustain region’s growth

Doha: Rapidly-growing Islamic-based finance will drive the next phase of economic growth across the Middle East and North Africa (Mena), financial leaders have said at the Euromoney Qatar Conference on Wednesday Globally Sharia-compliant assets are estimated to be worth $1.4 trillion (Dh5.1 trillion), and slated to post double-digit growth in the next two-to-three years, according…



UAE: New Norms to Set the Standards for Global Halal Trade

With the UAE taking the lead in introducing standardisation and certification of halal meat products and slaughtering, halal producers are moving fast to put in place necessary measures to meet the requirements of the mandatory accreditation that will come into effect from next year. Currently, companies operating in the nearly US$3 trillion industry obtain separate…



Islamic banks should be named ‘ethical banks’

Islamic Shariah-compliant banks should be named ethical banks because their present name has monopolizing implications and banks are just a small part of the overall Islamic economy, a prominent Saudi Islamic banker has said. Saleh Abdullah Kamel, chairman and founder of the Saudi Shariah-compliant Dallah Al Baraka Group, criticized some Islamic banks which he said…



The Vatican offered Islamic finance principles to Western banks as a solution for worldwide economic crisis.

Daily Vatican newspaper, ‘L’Osservatore Romano, reported that Islamic banking system may help to overcome global crisis, Turkish media reported. The Vatican said banks should look at the ethical rules of Islamic finance to restore confidence amongst their clients at a time of global economic crisis. “The ethical principles on which Islamic finance is based may bring…



Brunei: Boosting Brunei Halal Brand’s presence

HIS Majesty the Sultan and Yang Di-Pertuan of Brunei Darussalam’s anticipated visit to London for the World Islamic Economic Forum (WIEF) at the end of this month will be flanked with networking opportunities for the Brunei delegation to attract investors and to build on the Brunei Halal Brand’s presence in the West. Speaking to The…



UAE: Dubai to get International Centre for Halal Products by 2014

Dubai will have an International Centre for Halal Products and will enjoy 10 per cent of the global market share in the next three years, Engr Hussain Nasser Lootah, a member of the Supreme Committee of Islamic Economy and director general of Dubai Municipality, said. “The centre will include an international laboratory and accreditation centre…



Canada: Halal Certified Turkey to Hit Grocery Stores

It’s been a long time coming! Maple Leaf Consumer Foods brand, Mina Halal, is now offering zabihah by hand, Grade A, whole halal turkey through large grocery retailers like Walmart, Loblaws, Real Canadian Superstore, No Frills, Sobey’s, Metro, Food Basics, Longos, FreshCo, Adonis and T&T at select locations throughout Ontario. The birds are set to arrive to stores…



New Zealand: Meat exporter gains from Halal challenge

New Zealand has gone from being a “distant farm” for Great Britain to establishing itself as a world leader in the halal meat market, says an industry expert who is presenting at the Business School’s Asia Dialogue conference in July. Tony Egan, managing director of Greenlea Premier Meats, will speak at the conference about how…



Global Takaful Market Set for $20 Billion in 2017

The Takaful industry is expected to see reach $20 billion by 2017 which is a staggering amount for the growing Shariah compliant sector of insurance. Takaful means Islamic insurance and provides an increasingly ethical way to manage products and services effectively adhering to the principles of Islam. The market in the GCC alone contributes to…



First Ever Halal Medication Launches in Australia

An Australian based pharmaceutical company has launched its own line of halal approved medication and products in the hub of Sydney. The pharmaceutical company ‘Pharmacy 4 Less’ has launched the niche products to cater for the demand in halal-friendly medication from patients who were concerned about the halal authenticity of their current medicines. The innovative…



Halal Real Estate Investments REITs: A Lucrative Investment

Shari’ah compliant real estate investments (REITs) are becoming an increasingly growing sector around the world. Many investors are tapping into Shari’ah compliant investment sector in the infrastructure and real estate arenas. Some of the major Islamic financial hubs of the world have opened their doors to opportunities within the Islamic finance investment world. Halal investments…