Muslim youths pave the path to socioeconomic change

Source: WHC. Khairy.

Malaysia has held a reputation as a halal leader, and it is now crucial for the country to meet the need for young talent in the booming halal Industry, said the honourable Khairy Jamaluddin, Minister of Youth and Sports of Malaysia, in a special address at the World Halal Conference 2016 which is hosted by the Halal Industry Development Corporation (HDC). 

In a speech titled Youth: The Halal Industry Successor Khairy said: “It is of extreme importance that the youth are engaged as the halal industry matures. They should take the opportunity to be involved in the industry in contributing to the growth of the halal economy locally and internationally, especially with the aid of the halal innovation ventures.”

Khairy also said that as youth embrace technology such as social media, this lifestyle should be supported by the halal industry. He said, "Many young Muslims affirm that religion plays a prime role in shaping one’s character. Muslim youths who are the future drivers of the Muslim world should be at pace with the rest of the world in terms of technology and social exposure; yet remain steadfast in practicing Islam.”

The two-day conference, themed Halal at the Forefront of Economic and Social Change is expected to host more than 1,000 halal stakeholders and foreign delegates. With a Ministerial Panel chaired by Yang Berhomat Dato’ Sri Mustapa Mohamed, the Minister of International Trade & Industry Malaysia, a global leaders panel session, several concurrent plenary sessions on specific components within the halal ecosystem, e-commerce, youth and a Business Networking Galleria by collaborating partners of World Halal Conference. The conference will also see various aspects of the halal industry including the challenges facing the global halal economy, the rise of halal e-commerce and new business opportunities, and the need to develop talent.

ICD and Saturna partner on sustainable Islamic investing

The Islamic Corporation for the Development of the Private Sector (ICD) and Saturna in Malaysia, a wholly-owned subsidiary of US-based Saturna Capital Corporation, have signed an agreement to cooperate on offering sustainable Islamic investment vehicles to investors.

In choosing Saturna as its partner, ICD will be tapping the firm’s 25 years of expertise in global values-based investing and its experience in managing the US-based Amana Funds, the world’s largest Islamic equity funds open to the public, as well as Saturna Sustainable Funds. Saturna Capital is adviser to the Amana Mutual Funds (Amana Growth Fund, Amana Income Fund, and Amana Developing World Fund) that follow principles of Islamic finance. Saturna Capital is also adviser to the Saturna Investment Trust, consisting of Sextant International, Sextant Growth, Sextant Core, Sextant Bond Income, Sextant Short-Term Bond, Sextant Global High Income, and the Idaho Tax-Exempt Fund. Both sets of funds have been recognised by rating agencies for having portfolios with highest scores on sustainability. 

"ICD recognises the growing demand for responsible investment vehicles and believes that such strategies will greatly benefit economies as well as investors and societies,” said Khaled Al Aboodi, the CEO of ICD. 

“Islamic investing has long been an integral part of socially-responsible investing,” said Monem Salam, President of Saturna in Malaysia. "Saturna is very proud to be ICD’s partner in expanding Islamic investment choices that put even more emphasis on responsible finance. We believe that investing in sustainable and well-run companies could offer both growth and lower risk.” 

ICD's mandate is to support economic development and promote the development of the private sector in its member countries through providing financing facilities and/or investments which are in accordance with shari'ah principles.

Interested?

Read the Suroor Asia blog post about Saturna's expertise

Projects in Indonesia, Malaysia and Oman to benefit from IDB funding

The Board of Executive Directors of the Islamic Development Bank (IDB) has announced that it will contribute US$1.1 billion towards new development projects in IDB member countries and Muslim communities in non-member countries.

Chaired by IDB President Dr Ahmad Mohamed Ali, the Board approved funding for the following projects in Asia Pacific and Middle East:

• US$176.5 million for the Development of Four Higher Education Institutions Project in Indonesia
• US$330 million for the Power Grid Enhancement Project in Indonesia
• US$350 million for the Sohar to Ibri Water Supply Project in Oman
• US$99.2 million (RM$400 million) of sukuk in the Malaysian market from April through May, 2016

IDB is committed to improving Iraqi lives

The Islamic Development Bank (IDB) Group has announced it will work with Iraq’s government to develop tangible plans to advance the country. “IDB wants to see the country’s economic growth back on track, decreasing its dependence on oil, focusing on agriculture and industry, and tackling unemployment,” said Dr Ahmad Mohamed Ali, IDB President.

Dr Ali said the IDB, the World Bank and the United Nations have agreed to work together to boost Iraq’s capabilities. “Iraq needs support, using tools of modern development management, to achieve sustainable economic growth,” he said. “We will provide targeted expertise to help the country rebuild a resourceful economy in harmony with the global Sustainable Developments Goals.” This will also help bridge cooperation with neighbouring countries, he added.

Dr. Ali affirmed IDB’s commitment to help Iraq build strong partnerships with member countries based on investment and the full use of Islamic finance. He noted that IDB, in collaboration with the Arab Coordination Group, the United Nations, the World Bank, the Japan International Cooperation Agency, and the British Ministry for International Development, are working to increase their development assistance to Iraqi citizens. The assistance includes funding for basic services such as water and sanitation, power generation, education and health.

To date, IDB has funded Iraq’s development with US$551 million, covering infrastructure, basic services and trade finance. Dr Ali and the Governor of the Central Bank of Iraq, Ali Mohsen Ismail, who is also IDB Governor for Iraq, also signed a US$300,000 grant agreement for launching mobile clinics to provide primary healthcare services in the country’s rural areas.

ICD invests in AIB, Bangladesh

Source: ICD. Stakeholders pose at the strategic investment signing ceremony between Al-Aradah Islami Bank Limited and the Islamic Corporation for the Development of the Private Sector.

The Islamic Corporation for the Development of the Private Sector (ICD), the private sector arm of the Islamic Development Bank Group, has announced its strategic investment partnership with Al-Arafah Islami Bank (AIB), an Islamic bank in Bangladesh. ICD is expected to infuse growth capital of around US$20 million through a 10% equity subscription in the capital of AIB.

The collaboration with AIB exhibits ICD’s long-term vision to bring not only good corporate governance, international best management practice, innovative Islamic products but also to reap stability and confidence in the financial sector in Bangladesh. Khaled Al Aboodi, the CEO of ICD stated that this strategic initiative reflects ICD’s continuous effort to play a catalyst role in the promotion of Islamic finance and private sector development in Bangladesh.

Badiur Rahman, the Chairman of the bank highlighted that with ICD as Islamic multilateral institution, AIB would materialise its vision having the finest Islamic infrastructure by bringing financial solutions in the liquidity management, capital market products (sukuk), infrastructure, real estate, retail and SME sectors with best risk management framework. He further stressed that having ICD as strategic shareholder is the result of the confidence and trust kept on the board and management by all the stakeholders over the last 20 years. This new avenue would strengthen rating of the bank and pave the way for extending network with other international Islamic players in the world.

ICD has already committed US$110 million for the manufacturing, textiles and apparels, construction, and power sector along with US$70 million in lines of financing for the SME sector in Bangladesh. 

Phililppines senator asks government to strengthen MSME programme in ARMM

Senator Loren Legarda of the Philippines has underscored the role that micro, small and medium enterprises (MSMEs) play in generating jobs throughout the country, especially in poor municipalities.

Legarda, principal author of the Magna Carta for MSMEs, issued the statement following results of an online survey conducted by the Department of Labor and Employment (DOLE) and JobStreet.com Philippines, showing that three out of four locally employed Filipinos would accept jobs in their home region rather than work in another part of the country.

"I am glad that most of our kababayans (fellow Filipino) prefer working in their hometowns than move elsewhere in the country like Metro Manila, hoping to have better lives. This only indicates that Metro Manila is not the only place in the country where there's a multitude of job opportunities as more Filipino MSMEs participate on economic trade resulting to more jobs," Legarda said.

She added, "We need to sustain our gains by strengthening our MSME programmes because aside from generating employment opportunities and better incomes, MSMEs are powerful platforms for promotion of viable rural livelihoods, cultural preservation, socioeconomic empowerment of indigenous peoples, and environmental protection."

Legarda also called on the government to strengthen the country's MSME programme in the Autonomous Region in Muslim Mindanao (ARMM), which registered the highest number of residents who would rather find jobs outside of their hometowns, with only one out of three willing to stay and work locally, in order to spur economic growth particularly in the grassroots level.

The Senator also pushed for the promotion of green jobs and green skills in the country, noting that other nations encourage their people to engage in management in agriculture, forestry, horticulture, environmental information technology, and other careers that contribute to environmental preservation. All these efforts would complement our existing job generation strategies, she said.

Republic Act No. 9501, otherwise known as the Magna Carta for Micro, Small and Medium Enterprises, targets countryside industrialisation through the following: intensifying and expanding programs for training in entrepreneurship and for skills development for labor; facilitating access of MSMEs to sources of funds; assuring them access to a fair share of government contracts and related incentives and preferences; complementing and supplementing financing programmes for MSMEs and doing away with burdensome collateral requirements that small entrepreneurs find difficulty in complying with; instituting safeguards for the protection and stability of the credit delivery system; promoting linkage between large and small enterprises by encouraging the establishment of common service facilities; making the private sector a partner in the task of building up MSMEs through the promotion and participation of private voluntary organisations, viable industry associations and cooperatives; and establishing a feedback, grievance and evaluation mechanism.

INCEIF's Masters in Islamic Finance Practice is accreditated by the Malaysian Qualifications Agency

INCEIF has announced full accreditation by the Malaysian Qualifications Agency for both the online and face-to-face study options for its Masters in Islamic Finance Practice (MIFP) programme.

The MIFP was introduced in June 2014 to replace the flagship Chartered Islamic Finance Practice which was first offered by INCEIF in 2006. The MIFP includes courses and modules such as Financial Management, Quantitative Method, Financial and Managerial Accounting and Structuring Financial Requirements. There is one elective paper, Islamic Wealth Planning and Management. Those specific to Islamic finance include:

Economics for Islamic Finance
In this course students develop a critical understanding of the development of Islamic economic and finance theory and become more appreciative of the contributions made by Muslim thinkers. The Quran and sunnah are key referral materials.

Shariah Aspects of Business and Finance

This module consists of three major parts, Islamic Jurisprudence covering the sources of shari'ah, ahkam al-shariah, legal maxims and maqasid al shari’ah; theory of the Islamic contract, covering the general theory of contracts, ahliyyah/capacity, formation of contracts, terms and conditions, performance of contracts. The third part is about compliance, covering hisbah, ijtihad, fatwa, the shari’ah board, and shari’ah non-compliance risk. 

Shariah Rules in Islamic Financial Transactions
This module aims to guide students to analyse the application and mechanism of the most widely used shari'ah principles/transactions in Islamic finance such as muḍarabah, murabahah, baiʾ bi thaman ajil / baiʾ muajjal, salam, istisnaʿ, ijarah, baiʾ al-ʾinah, tawarruq, hawalah, kafalah, wakalah, wadiah, and rahn. The module will cover the concept of each contract along with their types, pillars, terms and conditions to ensure shari'ah compliance in execution and application. 

Ethics and Governance
This course is designed to provide an understanding of the framework in which ethical principles are linked with the practices of corporate governance in a market-based economy. This course will cover conventional and Islamic perspectives to the concepts of corporations as legal entities and how they ought to be regulated, guided, and led. 

Accounting for Islamic Finance
The course begins with a discussion of accounting in the Islamic and conventional perspectives. A comparative study of financial statements of Islamic financial institutions, prepared under AAOIFI and IFRS standards, is carried out to distinguish differences and relevance and to evaluate their “Islamicity”.

Islamic Insurance
The course examines risk from the Islamic perspective and ways of mitigating it in accordance with shari'ah. It discusses the various takaful business models, products and the key operational process of takaful.

Islamic Banking Practices
This course will examine the shari'ah principles that are entrenched in Islamic banking and Islamic banking operations. This course will also discuss the legal and regulatory aspects of Islamic banking and recent developments in this industry.

Risk Management for Islamic Financial Institutions
The objective of this course is to equip students with the fundamentals of risk management in finance. Special emphasis will be accorded towards risk management in Islamic financial institutions.

Islamic Capital Market
This course is designed to equip students with the working knowledge of the structures of the instruments and regulatory and shari’ah frameworks of Islamic capital markets within a dual-banking environment.

Financial Services Marketing
The course aims to equip students with the foundation of marketing principles which covers the core concepts of marketing, the marketing process, the environmental scanning and the marketing mix. This is further deliberated to the application of shari'ah principles and rules in ensuring that the financial services marketing upholds shari'ah values.

Shariah Issues in Islamic Finance
This module discusses major shari’ah issues debated in the Islamic finance industry. It covers the major aspects of Islamic finance including banking, capital market, takaful, wealth planning and management.

Shariah Audit and Compliance
This module focuses on the degree of shari'ah compliance in the Islamic financial institutions in the marketplace. The module covers different aspects of shari'ah audit including the concept, the process, shari'ah requirements and legal requirements.

Commercial Law and Legal Documentation for Islamic Financial Services
The course covers basic knowledge about the requirements of legal documentation for Islamic financing facilities and services and how these differ from documentation from conventional loans. 

Halal 2016 offers wide range of halal goods and services

The Halal 2016: incorporating Food & Lifestyle exhibition in Singapore, held from 24 to 27 March 2016 at Singapore Expo, featured a great deal of food-related enterprises, but also lifestyle and event-related enterprises focused on the halal economy.

Organised by MegaXpress International, the event promised to be the "biggest halal event ever organised under one roof", showcasing the latest in the market, from frozen foods, canned products, cuisines from around the world, desserts, health supplements, kitchenware, dairy products, fresh produce, and local favourites among others.

In a sense it was similar to the Geylang Serai night market during Ramadhan, but much more manageable and with a great deal more variety when it came to food and other products.

The event started off crowded over the weekend and became steadily more crowded as the day went by.

A selection of the booths are featured below:

A number of food-related businesses were clearly there for exposure, offering a taste of the wares and brochures for catering services, or just to drum up awareness of their outlets.

Opah Satay is a caterer, available for events. The standard package includes 1,000 sticks each of beef, mutton and chicken satay, as well as the rice, cucumber, and onion. Gravy, paper, tissue, are also provided, together with a pop-up cart and satay chef. Call +65 6742 8483 for reservations.

Opah Satay's takeaway containers featured plastic handles.

Food vendors were there for extra exposure. Chulop by the Syarifs makes churros. Hashtag: #chulopsg.

Watsub offers beef and chicken subs. 

Olivye Cafe is offering gelato for banquets and parties. Its menu is divided into classic and premium flavours. Small and medium sized cups of gelato are available, with a small fee for dry ice and delivery for orders of under 100 cups. The gelato is also available by the pan in 3l or 5l volumes, together with freezer rental, setup and delivery charges. A minimum order of four pans, one flavour per pan, applies.

Thai to go at Guillemard Road offers dine-in, takeaways and deliveries in Singapore. The menu is extensive and includes lunch box sets ranging from S$9.90 to S$12.90. Lunch box A at S$12.90, offers a choice of peppery beef or chicken, as well as two spring rolls, green mango salad, stir fried glass noodles, and steamed sweet tapioca with coconut cream.

Coyoro, short for 'cool yoghurt roll' makes pan-fried ice cream rolls as well as soft-serve ice cream and yoghurt. The flavours include PapaO!, papaya and honey oats; LitchiCitrus, a mix of lychee and tangerine, and attap with corn. It has three outlets, in Bugis Street, at East Village in Upper Changi and at Sun Plaza in Sembawang.  

Nigel Herbs is introducing pulled (flaked) salmon, a food ingredient which will retail at the chilled food sections at supermarkets. The Norwegian salmon is available smoked or salted and smoked. The company sells a variety of foods online, including cookies, confectionery, coffee, and tea.

Spicy sauces and snacks galore. Sikom sambal kicap at the top left is based in Muar, Malaysia and quite spicy.

Al-Sunnah Health Food & Products sells dried figs, dates, and olive oil among other foods.

On the food ingredient front, Bakers Farm, a halal bakery ingredients supplier, was looking for distributors.

Foods and other products which promote health were there in abundance. Enertime eggless apricot butter cookies (background), 3 in 1 coffee made with arabica and robusta beans (middle), and Enerbest, a soy powder mixed with barley that can be used as a meal replacement (foreground). 

OJ honeys from Dabzee Singapore are from Pakistan or Thailand. The Pakistani blends include acacia with habb e sauda (black seed, or kalonji), and an acacia with garlic flavour.

Isagenix is a membership-only brand that offers health supplements, including energy drinks and meal replacements. Many contain raspberry and pomegranate. WME, for instance, at the bottom left, is an energy and recovery drink that contains vitamins A, C and the B complex in addition to electrolytes. E+, next to WME, is an energy drink that contains green tea and yerba mate, and does not contain artificial colours or flavours.  Snacks! in the middle contain whey protein, fats and carbohydrates to help curb appetite.

Other neutraceuticals included Sultan Drinks' power drinks and colas, which include black seeds (nigella sativa). According to literature from the Austrian company, every 250ml can of cola contains an average of 10g of content from black seeds. Besides Sultan Cola Classic, the company has Sultan Cola De-Light, made with stevia, and Sultan Power Drink, which includes black seed, ginger, honey, royal jelly, mint, lemon, stevia and naturally extracted caffeine.

This booth, named The Perfume Factory, offered to create personalised fragrances from an array of essential oils in glass bottles.

Wardah Cosmetics is one of the major halal cosmetics providers worldwide. In Singapore, Wardah products are available at Jannah Muslimah Salon in Tristar Complex, Geylang and at D'Fatiin at Wisma Indah, Changi. There are also agents in Seng Kang, Punggol, Bedok and Woodlands. 

Dyara Solutions makes a vanishing cream containing aloe vera, pomegranate and seaweed which promises to improve skin blemishes. Tubes of the cream were on sale at the event for S$20, and for RM20 on Facebook. The company's website does not work. Hashtag: ‪#‎dyarasolutions‬.

Other companies at the event include fashion firms such as Malaysia's Naelofar Hijab, which is known for its instant shawls or hijabs, available in Malaysia, Brunei and Singapore, and Ebben Singapore, which also has instant hijab variants.

Interested?

Read the Suroor Asia blog post introducing Halal 2016: incorporating Food & Lifestyle
Browse the Suroor Asia posts about black seeds (see footnotes), the Geylang Serai Hari Raya Bazaar in 2015 and what Wardah Cosmetics recently launched

Hashtags: #‎megaxpress2016‬, ‪#‎halal2016‬, #sghalal

Al Sunnah Health Foods & Products in Ang Mo Kio sells these soft figs which are kinda addictive

A photo posted by J Tang (@shimmertje) on Mar 26, 2016 at 2:42am PDT

posted from Bloggeroid

Halal Expo Australia expands to three events in 2016

Source: Halal Expo Australia website.

Buoyed by the success of the first Halal Expo Australia in 2015, the organisers of Halal Expo Australia will have three events in 2016: Halal Expo Melbourne on 3 April, the International Halal Conference (IHC) 2016 on Saturday 9th of April at Novotel Hotel Darling Harbour Sydney; and Halal Expo Sydney on Sunday, 10th of April 2016 at Fairfield showground, Fairfield (Sydney) NSW.

The inaugural edition of Halal Expo Australia, held in Sydney, was held in April 2015 was met with much acclaim. More than 10,000 people attended the 100-exhibitor event, including a number of community leaders, local politicians and celebrities. The organisers subsequently received invitations from people in other states to organise the event in other cities. 

Halal Expo Australia aims to spread awareness about the significance of halal food, products and services among the growing population of the members of the Islamic community in Australia, and to those who do not possess clear or specific knowledge about the consumption of halal food or those who had never used any halal products and services

The first IHC is themed Islam, Halal Industry and Australia, and provides a forum for speakers to discuss and find resolutions on the issues in the larger interest of the Islamic community in Australia and the Pacific region. The speakers will talk about steps to enhance and strengthen the network of the halal industry and its products/services in Australia and the Asia-Pacific region while planning to widen the halal network to other countries and regions. They will make decisions and pass resolutions in connection with the furtherance of their goals of assisting halal industry players, manufacturers and retailers of halal products.

The IHC 2016 will also create awareness about the significance of halal products and services within and outside the Australian Islamic community. The Conference will provide experience and awareness to those who are not well versed or clear about the importance of halal products and services in multicultural Australia and how halal industry is playing a vital role in the Australian economy.

Key topics include:

The halal lifestyle
The science behind the halal slaughter practice
The importance of the role of Islamic scholars for the halal industry
Halal certification
Islamic finance – What is halal and haram
Halal banking and Investments
From indifference to Islamophobia – Australian Muslim responses
Islamic tourism and Muslim ummah (world)
Australian government and the halal Industry
The role of the halal industry in the Australian economy

The Director of Halal Expo Australia, Syed Atiq ul Hassan, is also the founding director of the Chand-Raat Eid Festival (CREF) which is held in Sydney, Melbourne and Perth.

Interested?

Halal Expo Melbourne 2016 will be held on 3 April 2016 from 10am to 8.30pm at the Royal Melbourne Showgrounds. Tickets cost A$5 (children under 5 free). Get involved

The first IHC 2016 is on 9 April at Novotel Hotel Darling Harbour Sydney from 9am to 5pm; and 

Halal Expo Sydney is on 10 April at the Fairfield showground, Fairfield, Sydney, NSW. Tickets cost A$5 (children under 5 free). Get involved

Sheikh Zayed Book Award unveils 2016 contenders in Arab Culture and Publishing Categories

Source: Sheikh Zayed Book
Award website.

The Sheikh Zayed Book Award (SZBA) has revealed the last nominations for its tenth cycle.

One English title has been nominated under Arab Culture in Other Languages, The Medieval Islamic Republic of Letter, Arabic Knowledge Construction by Iraqi writer Muhsin J Al-Musawi, published by University of Notre Dame Press, 2015. The book is a deeply learned work of literary history. It presents a a compelling argument against the commonly-held opinion that Arabic literature, since the glorious peak of the Abbasids, has somehow failed to be modern, and instead became locked in conventions that were stultifying and rarefied, created only for a small circle of initiates who were themselves censored and censuring. Musawi reviews this misconception and demonstrates, through his readings how this generally accepted account is mistaken.

Two French works were also shortlisted. Angles et Grandeur by Egyptian author Roshdi Rashed, published by the Walter De Gruyter, Berlin 2015 discusses the concept of the angle and its relation to Archimedean and non-Archimedean theories of measurement, tracing the history of discussions from Euclid to Kamal al-Din al-Farisi, after whom the discussion was not resumed until Newton and Euler. The volume presents first editions of over twenty texts, either in Arabic or Greek of the greatest mathematicians and philosophers of the time. The texts are translated into French and supplemented with extensive commentary.

Les Èlites Bagdadiennes au Temps des Seldjoukides by researcher Vanessa Van Renterghem from France, is published by Presses de l’Ifpo, 2015. The study examines the history of Baghdad in social terms, during a period rarely addressed by scholars; under the Seljuks. The study features two-volumes; the first being a study of the social theory and the second featuring appendices and pictorial analysis.

The nominated publishing houses for the Publishing and Technology award are Asala Publishing, from Lebanon, Obeikan Publishing from Saudi, Dar Al-Saqi, from Lebanon and Dar Toubqal from Morocco.

The SZBA will announce the winners in the next couple of weeks followed by the announcement of Cultural Personality of the Year.

Interested?

Read the Suroor Asia blog post about the SZBA short list for Literary and Arts Studies

World Halal Conference to include discussions on e-commerce, globalisation

Source: HDC.

Halal and e-commerce will be a key topic discussed at this year’s World Halal Conference, held by Malaysia's Halal Industry Development Corporation (HDC) on March 30 and 31 2016 with the theme Halal at the Forefront of Economic and Social Change.

The two-day conference will focus on various aspects of the halal industry, including the challenges facing the global halal economy, the rise of halal e-commerce and new business opportunities, and the need to develop talent. More than 800 Halal stakeholders and foreign delegates are expected to participate in the conference.

Other discussions include an Ambassadors Panel on Strategic Foresight on Economic & Social Aspects, and Globalization of Islamic Economy: The Halal Perspectives. Panellists for the discussions will comprise several heads of governments and corporate leaders, including from the UAE, Turkey, Japan, China, Korea, Qatar, Thailand, the UK and Indonesia.

Source: HDC. Dato' Seri Jamil Bidin.

“For many Muslims, halal goes beyond food and trade; it is a way of life. With Malaysia being recognised as the leader in the global halal arena, it is important for us to push forward and align our efforts simultaneously with key players of the industry, in meeting the consumer needs of Muslims worldwide,” said HDC’s Chief Executive Officer, Dato’ Seri Jamil Bidin. "This conference seeks to converge and inspire ideas from all around the world in addressing the current issues and challenges as well as incorporating halal perspectives into socio-economic developments."

This year’s World Halal Week has the theme Beyond the Economy, reflecting Malaysia's continuing efforts to identify the untapped potential of the halal industry beyond trade and commercial values. 

Interested?

Read the Suroor Asia blog posts on highlights for the World Halal Conference and on MIHAS 2016

Get updates on Facebook

World Takaful Conference begins April 11

Source: Middle East Global Advisors.

The conveners of the 11th annual World Takaful Conference (WTC) - Middle East Global Advisors - will be revealing new insights on the outlook for the global takaful industry as part of its commitment to serving the shari'ah-compliant insurance markets. The 23-year financial intelligence platform, in partnership with Netherlands-based consultancy Takaful Outsource, will launch the Finance Forward World Takaful Outlook Report 2016 on April 11 at the WTC.

Blake Goud, Chief Research Officer of Middle East Global Advisors, said, "For over a decade, the World Takaful Conference (WTC) has connected the industry with insights about the state of and future for takaful. The Finance Forward Takaful Outlook Report 2016 will complement the insights that come out of the conference and provide takaful leaders with the key insights they need in order to make strategic decisions to capitalise on emerging opportunities."

According to the report, the Islamic insurance industry faces an uphill climb against severe competitive pressures with an added headwind coming from macroeconomic challenges. However, the forecast is brighter with takaful growing faster than the broader insurance market. Further, the report also identifies several areas where changes could accelerate growth.

Momna Saeed, Senior Research Analyst at Middle East Global Advisors added: "The takaful industry has exhibited impressive double digit annual growth over the last decade; however, it remains underdeveloped as compared to the overall thriving Islamic finance industry.

"The uniqueness of the report is that it combines current insights from takaful leaders - gathered from an extensive global survey of practitioners' - with robust analysis of the impact of the global economy on the regional takaful markets, as well as comparative analysis of various markets."

The report covers a wide variety of issues including pricing regulations and their impacts across various regions, the evolving role of actuaries, as well as key issues relating to human capital.

WTC 2016 is a two-day gathering of the global takaful industry taking place on 11 and 12 April at the Dusit Thani in Dubai, UAE. According to the convenors, the takaful industry is still at a nascent stage in its development although its growth has been rapid over the past seven years, with total assets doubling in the last five years. 

Haj Media Award deadlines announced

The Haj Media Award jury, led by Secretary General, Suliman bin Awad Al-Zaidi, has announced a deadline of 29/8/1437 (Islamic calendar; corresponds to June 6, 2016) for nominated submissions by individuals, groups, and organisations for the Haj Media Award for Hajj 1436, the season of 2015. The award ceremony has the proposed period of the first half of Dhu al-Qa'dah 1437 (August 5 to 19, 2016). The decisions were made by His Highness the KSA Minister of Haj, Dr Bandar bin Mohammed Hajjar, head of the award committee. 

The Haj Media Award aims to diversify media products, and to promote quality content, as well as encourage writers and media professionals to keep pace with the specific services provided every year to Hajj pilgrims. On a higher level, the award aims to achieve the aspirations and the policy of the Saudi government, led by the Custodian of the Two Holy Mosques, His Highness the Crown Prince, and His Highness the Deputy Crown Prince.

Awards will be given out for the best comprehensive media coverage of Hajj activities among press reports, interviews, reports, surveys, documentary programmes, visual programmes, opinion articles, seminars, photographs, and caricatures across print, visual, audio, and electronic media. Submissions are to be judged on whether they promote the humanitarian and cultural values; support justice, transparency, trust, commitment, and distinction; and enhance the creativity of media professionals and of writers; so as to add to the Hajj system, and to highlight specialised Hajj media. 

His Highness' directions have been for the jury to include prominent figures from outside the ministry: Shura council (Majlis as-Shura) members, media practitioners, and specialised academics among them in order to increase transparency, and to improve the process through professional ideas. The jury now includes Dr Sadaqa Yehia Fadel from the Shura Council, Mohammed Al-Mokhtar Al-Fal, a member of the media, Dr Mohammed bin Ali Hendia, Dr Anmar bin Hamed Motawi', and Dr Samir Habeeb Bakhesh.

The Secretary General hopes that media professionals, writers, and media organisations will be motivated by the award to conduct in-depth research; create an environment of positive interaction between the system and the media, and to utilise new ideas broadcast in the media during Hajj coverage. 

Source: Ministry of Haj, KSA.

Interested?

Media organisations, writers, and journalists may submit works published or broadcast during Hajj 1436. These works must be authentic, in accordance with the award standards, and produced by the applying organisation, person, or group. The submitted work must not have been previously submitted for other awards. Contact the Ministry of Haj for details

Illustrating the trends in Quranic commentary worldwide

Source: OUP.

The OUP/Institute of Ismaili Studies has published The Qur'an and its Readers Worldwide: Contemporary Commentaries and Translations, edited by Suha Taji-Farouki (ISBN: 9780198754770) as part of its Qur'anic Studies Series.

Some 80% of Muslims in the contemporary world speak languages other than Arabic, the language of the Quran. To respond to the needs of their communities, Muslim scholars and laypersons must increasingly explain and communicate the meanings of the Quran in their own languages — including through the medium of Quran commentary and translation.

The Qur'an and its Readers Worldwide provides an introduction to this rich and expanding field. It brings together a selection of Quran commentaries and translations produced across the twentieth century to the present day, and ranging in provenance from the regions of the traditional Islamic heartlands to the new loci of global Islam. Individual chapters examine works in Arabic, Bosnian, Chinese, English, German, Malay, Persian, Swahili, Turkish and Urdu, each viewed in terms of the impact of modernity on the encounter with the Quran.

Through these case studies this book illustrates the defining trends in Quran commentary worldwide, addressing evolving questions of authorship, message, intended readership and media of communication. It also samples debates concerning Quranic meaning in translation.

Taji-Farouki is Senior Lecturer in Modern Islam at the Institute of Arab and Islamic Studies, the University of Exeter. She was formerly at the University of Durham, and has held Visiting Fellowships in London, Berlin, Oxford and Amman.

Interested?

The hardback costs £60.

Muis announces primary 1 admissions exercise for 2017

Source: Muis website. School crests of the four madrasahs.

Madrasah Irsyad Zuhri Al-Islamiah, Madrasah Al-Ma’arif Al-Islamiah,Madrasah Wak Tanjong Al-Islamiah and Madrasah Alsagoff Al-Arabiah are conducting a Joint Primary 1 Application Exercise for year 2017, reports the Islamic Religious Council of Singapore (Majlis Ugama Islam Singapura, or Muis).

Interested?

Parents and legal guardians whose children are born on or between 2 January 2010 and 1 January 2011 may choose to register their child at any one of the four madrasahs from up to 1 April 2016 (closed on Sunday, 27 March 2016). The application may be made only at one madrasah.

The application forms for Madrasah Irsyad Zuhri (Braddell Road), Madrasah Al-Ma’arif (Lorong 39 Geylang), and Madrasah Wak Tanjong (Sims Avenue) may be obtained during application period at the respective madrasahs or downloaded (PDF). Please also download, complete and bring along this survey form (PDF). Madrasah Alsagoff (Jalan Sultan) applications can be made online

Qualifying tests will be held on 9 April, and results announced in the second week of May.

Find out more about the application process, including documents required.

World Halal Conference 2016 to discuss halal as a catalyst for change

The Halal Development Corporation will hold its 9th Annual World Halal Conference (WHC) on March 30 and 31 at the Kuala Lumpur Convention Centre, Malaysia. Given the tremendous growth of the global halal industry and its impact on the economic and social landscape, this year’s conference is themed Halal at the forefront of Economic and Social Change.

The two-day conference will focus on various aspects of the halal industry including the challenges facing the global halal economy, the rise of halal e-commerce and new business opportunities, and the need to develop talent. Highlights include:

 A Global Leaders Panel Session

 A Ministerial Roundtable Session

 Concurrent plenary sessions on specific components within the halal ecosystem, including about youth, women's empowerment, e-commerce and halal talent

 A Business Networking Galleria by WHC collaborating partners.

According to the organisers, the halal industry is worth approximately US$2.3 trillion today, and growing strong. As the halal economy comprises more than 70 core countries, a platform such as the World Halal Conference enables the community to discuss issues and challenges related to the development of the global halal industry.

Countries producing halal products and services are already finding ways to create better multilateral trade and investment for the industry. Deliberations to create a global halal trade network are in the pipeline, as it generates investment opportunities and strengthens multilateral trade among halal based industries. Bilateral trade agreements in the areas of eliminating tariffs, import quotas, export restraints and other trade barriers could contribute to the creation of an international industry worth US$3.7 trillion by 2019, as reported in the Global Islamic Economy Report 2014-2015.

More than 800 halal stakeholders and foreign delegates are expected to participate in the conference. Tun Abdullah Haji Ahmad Badawi, the patron of the World Halal Conference, and the former Prime Minister of Malaysia, will give the welcoming remarks. The keynote will be delivered by The Right Honourable Dato’ Seri Dr. Ahmad Zahid Hamidi, Deputy Prime Minister of Malaysia.

A special address entitled Youth, Lifestyle and Halal will also be given by The Honourable Khairy Jamaluddin, Minister of Youth and Sports of Malaysia. His address will emphasise the importance of youths in developing the halal industry, and how the industry can reap lucrative business prospects for young entrepreneurs.

One of main topics that will be deliberated this year is women and youth empowerment, which will discuss the significant involvement and progression of women and youth in the halal industry, and how their decisions and purchasing power have changed the balance of the social and economic aspects of the halal world. They are becoming more influential with top business ideas in the field of consumer products, savvy technology and lifestyle.

The two keynote speakers of this session will be Dato’ Dr Norraesah Binti Haji Mohamad, Chairman, WIEF Businesswomen Network Malaysia and Loubna Amhair, Member of the House of Representatives, Morocco.

Interested?

The 9th Annual World Halal Conference will run from 30 to 31 March 2016 at the Kuala Lumpur Convention Centre, Malaysia. Admission is free but by invitation only. Qualified registrants will receive invitations. Register

View photos of the 2015 conference

Read the Suroor Asia blog post about MIHAS 2016
Read the Suroor Asia blog post about the World Halal Summit 2015
Read the Suroor Asia blog post about the World Halal Conference 2014

Malaysian delegation to Gulfood 2016 registers sales of over RM556 million

A total of 65 Malaysian companies concluded their participation of Gulfood 2016 recently with total sales of RM556.42 million registered over the five-day event. The delegation to Gulfood 2016, which took place at the Dubai International Convention & Exhibition Centre in the UAE, was spearheaded by the Malaysia External Trade Development Corporation (MATRADE).

This year marked Malaysia’s 12th participation in Gulfood and throughout the years, the event has offered Malaysian companies a platform to showcase a wide variety of food and beverages (F&B) products such as confectioneries, food ingredients, sauces and paste, ready-to-eat meals, frozen food items and palm oil products.

The outcome of Malaysia’s participation in Gulfood remains bullish amid the low crude oil prices affecting the region. During the event, Malaysian companies received a total of 7,544 trade enquiries from various potential buyers ranging from food distributors, procurement centres from within the UAE, neighbouring Gulf countries, elsewhere in the Middle East, the subcontinent, Central Asia as well as Africa. This year’s event was attended by more than 5,000 exhibitors from over 120 countries.

While newcomers were able to establish new contacts to secure orders, the repeat participants had utilised their involvement to launch their new innovative halal F&B products and renew export orders from existing clients as well as strengthen their brand presence in the market.

According to regional financial advisory entity Alpen Capital in its Gulf Corporation Council (GCC) Food Industry Report, the region’s packaged food market will continue to boom due to the rising demand for healthy and international food from a growing base of expatriates as well as young consumers. Halal food imports into the GCC region are expected to double from US$25.8 billion in 2010 to US$53.1 billion by 2020, registering a 7.5% CAGR. Another similar entity, Al Masah Capital, has also noted that the GCC food service market was valued US$18.8 billion in 2014 and is projected to grow at a CAGR of 6.8% to reach US$24.5 billion by 2018.

Gulfood is one of the largest specialised food, beverages and equipment shows in the world. Focusing on the global halal market, Gulfood is an ideal avenue for Malaysian companies to not only promote their halal Made in Malaysia products but to also increase their market visibility in the Gulf region, subcontinent countries as well as Africa.

More Indonesian vaccines for Saudi Arabia

The Indonesian Trade Promotion Center (ITPC) has negotiated an agreement to increase BioFarma vaccine exports to the Middle East, especially to Saudi Arabia. Indonesia is the only Organization of Islamic Cooperation (OIC) country that produces vaccines certified by the World Health Organization (WHO).


Rahman Rustan, Corporate Secretary, BioFarma, a state-owned pharmaceutical company, said that three vaccines are currently exported to Saudi Arabia: the tetanus, diphtheria (DT) vaccine, a vaccine for polio, and Pentabio, a vaccine for diphtheria, tetanus, pertussis, hepatitis B, and Haemophilus influenzae type B (DTP-HB-Hib).

With the help of ITPC, BioFarma can grow and diversify product exports, targeting Islamic countries in general. BioFarma has supplied vaccines to more than 130 countries, including 49 Islamic countries. The company is committed to increasing vaccine expertise for Islamic countries through knowledge-sharing and technology transfer. Indonesia's vaccine exports are worth more than US$114 million annually, while Saudi Arabia vaccine imports are valued more than US$270 million a year.

Salaam Gateway to debut in Malaysia at MIHAS 2016

Mass media and information firm Thomson Reuters will be introducing a new portal focusing on the latest information and intelligence on the Islamic economy at Malaysia International Halal Showcase (MIHAS) 2016. MIHAS 2016 - a signature event by the Malaysia External Trade Development Corporation (MATRADE) - will be held from 30 March to 2 April 2016.

Salaam Gateway from Thomson Reuters, launched in Dubai last year in partnership with the Dubai Islamic Economy Development Centre (DIEDC), is a source of intelligence on all sectors of the Islamic economy. Available in both English and Arabic, the online platform covers the seven pillars of the Islamic economy - food, finance, travel and tourism, fashion, arts and design, pharmaceutical and cosmetics, media and recreation as well as e-commerce. It is designed to serve as a major source of research, information and data for Muslim professionals and to help them widen their understanding of the Islamic economy and explore opportunities open to them.

“Salaam Gateway offers a knowledge-sharing platform at this world’s biggest halal trade fair. Through this partnership, businesses, policymakers and Muslim professionals will be able to gain access to the full spectrum of the Islamic asset classes from across the regions. This will enable us to generate viable solutions to speed up the industry’s growth,” said Chief Executive Officer of MATRADE Dato’ Dzulkifli Mahmud.

Salaam Gateway is also structured as a business-to-business (B2B) tool for Muslim professionals, facilitating the sourcing and trading of halal products and services through a database of halal companies from across the globe. Small and medium enterprises (SMEs) can benefit from this platform by listing their business to gain visibility. It also presents an opportunity for companies to widen their business network and forge profitable partnerships.

“The introduction of Salaam Gateway marks a major step towards the globalisation of the Islamic economy and MIHAS, which represents the global halal marketplace, is the ideal platform to share this knowledge with the world,” said Nadim Najjar, Managing Director, MENA, Thomson Reuters.

According to the State of the Global Islamic Economy Report (SGIE 2015-2016), developed by DIEDC and Thomson Reuters, Muslim consumers’ spending exceeded US$1.8 trillion in 2014, with solid growth recorded across several sectors of the Islamic economy.

“In understanding the needs and priorities of Muslim consumers, it will require more study and research to be undertaken and the result will offer a new level of products and service development for the growth and evolution of the halal market. More knowledge-sharing will enable businesses to explore the opportunities available to them in the emerging new Islamic economy,” said Dato’ Dzulkifli.

The halal agenda is very much part of the Government’s policy to promote the growth and development of Malaysia. The 13th MIHAS, part of World Halal Week 2016, is scheduled to take place at the Kuala Lumpur Convention Centre (KLCC). It will feature a trade fair and an International Sourcing Programme (INSP).

The trade fair showcases participation of companies supplying various products and services such as halal consumables, non-food products & services, food packaging, machinery & catering equipment, Islamic investment, banking and takaful. A total of 640 booths will be set up, and over 25,000 visitors are expected to attend the event.

"Malaysia has earned an international recognition as one of the pioneers in the global halal marketplace. The halal ecosystem is well developed in Malaysia, and this is a strong catalyst for the huge growth in the industry,” said Dato’ Dzulkifli.

“Halal certified bumiputera companies are a major contributor to the industry. Last year, MIHAS saw the participation of 108 bumiputera companies. We hope to see this number increase significantly this year with more bumiputera SMEs exhibiting their products at MIHAS.”

Aiming to accelerate sales of halal products and services from Malaysia, the INSP will be organised on 29 March 2016. INSP is a business matching programme for Malaysian companies and was previously known as the Incoming Buying Mission or IBM. The sourcing programme aims to match 500 Malaysian companies with over 350 buyers from 41 countries.

Last year, the business matching programme had successfully generated RM443.2 million of sales while the sales from the trade fair were RM655.8 million, bringing the total sales of MIHAS 2015 to RM1.1 billion. With an interplay of various external factors in the global economies, these figures are expected to increase by 2% this year.

The contribution of halal exports to Malaysia’s economy continues to grow, reaching an estimated RM42 billion in 2015, creating 200,000 jobs and supporting 800 SMEs to date.

Besides MIHAS 2016, other components of the World Halal Week are the World Halal Conference 2016 organised by the Halal Industry Development Corporation (HDC) and the Halal Certification Bodies Convention organised by Department of Islamic Development (JAKIM).

Interested?

Read the Suroor Asia blog posts about the INSP, the State of the Global Islamic Economy Report and the launch of Salaam Gateway

Hashtag: #mihas2016

Sheikh Zayed Book Award 2016 shortlists shared for Literary and Arts Studies categories

Source: Sheikh Zayed Book
Award website.

The Sheikh Zayed Book Award has revealed the three titles short listed in the Literary and Arts Studies category for the 2016 cycle.

The Typography and Urban Evolution of Cairo by Egyptian historian Ayman F’uad Sayyid, published by the General Egyptian Book Organization, 2015, is a study of the evolution of urban planning in the city of Cairo since the Islamic Ages till the present day. The author connects urban planning to the development of political, religious, social, economic trends of the people who ruled Egypt. The study uncovers the impact of the rulers and politicians who played a major role in the development plans for Cairo, and includes a photo album and a number of historical maps illustrating the urban development process.

Tahadiyat al Naqed al Mo’aser (Challenges of the Contemporary Critic) by Gaber Asfour, from Egypt, is published by Dar Al Tanweer, Beirut 2014. The book provides an accessible introduction to Arab contemporary literary theory and criticism. It offers modes of criticism within their historical and intellectual contexts in addition to close readings of the major European and Anglo-American critical texts and their impact of Arab criticism movement.

Al fikr al ‘Adabi al Arabi (Arabic Literary Thought) by Said Yaktine from Morocco and published by Difaf Publishing, Beirut 2014, combines the history of the Arab contemporary criticism, Arabic literature and Arab literary thought. The study aims to introduce literary and critical practice in areas of study related to linguistics include semiotics.

More shortlists will be shared in the lead-up to the announcement of the winners.

Interested?

Read the Suroor Asia blog post about the 2016 shortlists for Development of Nations and Translation