As existing and would be players jostle for positions to try and grab a slice of the expanding global Halal market, the current scenario within the industry, as one can imagine, is a bit chaotic and unorganised. Moving forward, a common entity is needed, to channel all collective endeavours towards realising the fullest potentials of Halal.
The 1970s saw a global movement towards commercialisation of the Islamic banking system, spanning countries from the Middle East to South Asia. But growth over the following decade was at a snail’s pace, given the lack of proponents and competition with the fast-paced conventional banking system.
HSBC Bank Malaysia Bhd’s newly launched syariah-compliant structured investment-linked plan, HSBC Amanah Takaful Structured Investment-Linked Plan, will be offered till Oct. 10.
Building on the success of 2006 inaugural conference, the 2nd Global Islamic Finance Conference (GIFC2008), to be held on 29-30 of October at the Prince Hotel & Residence, Kuala Lumpur, Malaysia will convene more than 200 senior executive delegates representing the financial institutions, private corporations, government departments, legal firms and other institutions.
Dr Shamshad Akhtar, Governor State Bank of Pakistan has said the government and the State Bank were working to launch the first government of Pakistan Ijara Sukuk in the first week of the Holy Month of Ramadan in order to support the efforts to diversify the borrowings mix.
Russian Muslims, currently fasting for the holy month of Ramadan, may soon have one less financial worry on their plates. A new Islamic debit card is due to be launched across the country, with terms and conditions guaranteed to be Halal by Muslim spiritual leaders.
The Islamic bank directors, management team and auditors have to carry out their professional duties having in mind satisfying the needs of the shareholders as well as Allah.
Pakistan, the world's second-most populous Muslim nation, plans to sell its first Shariah-compliant bonds in the domestic market this month, to help bridge a budget deficit that's widened to a 10-year high.
Dr Shamshad Akhtar, Governor State Bank of Pakistan has said that the Federal Government and the central bank are working in tandem to restore macroeconomic stability.
It is always good to travel. It is a simple way to get a sense of where you have come from and where you are going. Even Dubai, with its slightly surreal, almost Disney-like quality is no exception to the rule that if you keep your eyes open and pay attention, you will see where you are.
Someone recently asked me how I saw the global Halal market developing. I replied that it was like a big picture slowly coming into focus; the longer you watch it, the clearer it becomes. Blur slowly shifts into clarity, new detail appears, and after a while you begin to get a real sense of how the picture is going to look. The trick is just not to look away.
The Halal Industry Development Corporation Sdn Bhd (HDC), will introduce halal inventory financing to assist industry players. According to its chief executive officer, Dato' Seri Jamil Bidin, the HDC had already finalised the financing structure and it was expected to be launched by the end of the year.
Since its birth in 2006, The World Halal Forum has grown in stature and significance, more so after receiving unequivocal backing of the Organisation of the Islamic Conference (OIC) last May.
The 1970s saw a global movement towards commercialisation of the Islamic banking system, spanning countries from the Middle East to South Asia. But growth over the following decade was at a snail’s pace, given the lack of proponents and competition with the fast-paced conventional banking system.
The World Halal Forum 2008 (WHF 2008) scheduled to be held from 12th to 13th May 2008, at the prestigious Kuala Lumpur Convention Centre will see the result of all deliberations, discussions and developments achieved since the second introductory WHF in 2007, which is expected to steer and chart the future course of the global Halal industry.
Although the consumption and trade of Halal products existed more than 1,000 years ago, it has only been in the last few decades that governments and consumers have shown great interest in this market. In its basic form, Halal is an Islamic value attached to products. Hence, this has a direct impact on how the products should be financed, sourced, produced, processed, distributed, stored, sold and consumed.
United Kingdom is well known in the game of football although it cannot be said that the UK (England, Scotland, Wales and Northern Ireland) is a real force in this famous sport, as they did not qualify for the European Championship 2008, and only have won one major football trophy way back in 1966. However, its Premier League is said to be the best league in the world with the best clubs and players. Luring these megastars requires a strong economy and consequently making these football clubs some of the richest football clubs in the world.
Even after more than ten years, the impact of the 1997 Asian financial crisis still lingers clear in the mind of most Indonesians today. For the country most severely hit, the crisis not only crippled Indonesia’s financial and monetary sectors, it also altered the political and socio-economic fabric of the Indonesian society.
