AAOIFI-World Bank Conference 2016 report now available

The report on the 11th Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI)-World Bank Conference, held in early November 2016 in Manama, Bahrain, is now available for download. The event, with the theme Islamic Finance in the Post Oil Economic Scenario, was attended by 737 persons from around 42 countries. 

The report provides key information, figures and statistics in addition to links to research and presentations.

Interested?

Download the report in Arabic or English

Regional shari’ah scholars discuss strengthening of Islamic finance

The International Sharīʻah Research Academy for Islamic Finance (ISRA) has organised the 10th Muzakarah Cendekiawan Shari’ah Nusantara (the Regional Shari’ah Scholar Dialogue) in early June in Kuala Lumpur, Malaysia.

Themed Towards Strengthening Islamic Finance: Issues and Solutions, the muzakarah aimed to provide a platform for sharīʻah scholars from Southeast Asia to deliberate on key aspects of Islamic financing and refinancing. Over 210 delegates from six countries, including sharīʻah scholars, academicians, market players and regulators, attended.

Professor Mohamad Akram Laldin, the Executive Director of ISRA, stressed in his opening address that sharīʻah is the backbone of the industry, and said it is important to follow the broader principles of sharīʻah to devise instruments for refinancing for consumers.

The muzakarah arrived at the resolution that three methodologies - maturity extension, haircut* and renewal of ijarah contract by increasing the amount of rental - can be used for rescheduling and restructuring. Other methodologies require further study, however.

*According to the International Capital Market Association, a haircut is the difference between the market value of an asset and the purchase price paid at the start of a repurchase agreement (repo).

Malaysia's HDC identifies way forward for halal economy

Source: WHC.  Tan Sri Dato' Dr Syed
Jalaludin.

More than 1,000 delegates converged at this year’s 9th annual World Halal Conference in Kuala Lumpur, Malaysia. Centred on the theme Halal at the Forefront of Social and Economic Change, the conference furthered insights and knowledge of the halal industry.

The event was graced by YAB Tun Abdullah Haji Ahmad Badawi, the patron of the World Halal Conference, who gave the opening remarks during the conference. A main conference was also hosted with a Ministerial Panel chaired by Yang Berhormat Dato’ Sri Mustapa Mohamed, the Minister of International Trade & Industry Malaysia. Other sessions included a Global Leaders Panel Session, several concurrent plenary sessions on specific components within the halal ecosystem such as e-commerce, youth and women’s empowerment, and a Business Networking Galleria hosted by collaborating partners of WHC.

This year’s conference saw the collaboration of several partners including the Islamic Development Bank, Nestle Malaysia, Agro Bank, Ramly, Chemical Company of Malaysia (CCM), East Coast Economic Region Development Council (ECERDC), Kuala Lumpur Malay Chamber of Commerce, Malaysian Industrial Development Authority (MIDA), and Sugarscarf.

“We are honoured to see such strong commitment from our industry partners, together with the participation of foreign delegates and renowned speakers who have made this year’s conference a success. We urge for their continuous support; together we can take the halal industry to new heights, both internationally and locally,” said Tan Sri Dato' Dr Syed Jalaludin Bin Syed Salim, Chairman of the Halal Industry Development Corporation (HDC).

The conference also saw the strategic alliance of HDC with various SMEs with the aim of uplifting the local halal economy. These included a memorandum of understanding between HDC and Nestle Malaysia that focused on building local productive capacity, enhancing social inclusion, and promoting environmental sustainability.

Despite the lacklustre prediction of the global economic sphere, the demand for halal products remain positive. Malaysia stands as the biggest halal exporter next to China with an increase of 4% in its export value in 2015.

“Indeed the Halal Industry Development Corporation has grown by leaps and bounds since its foundation 10 years ago; it is of utmost importance that we sustain the halal momentum and drive its growth even further,” adds Jalaludin.

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

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

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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. 

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

Halal Tourism Conference 2016 set for May

The Halal Tourism Conference 2016 (HTC2016) will be hosted in Konya, Turkey from 3 to 5 May 2016 at the Mevlana Cultural Center. 

A two-day conference is expected to attract over 1,000 delegates worldwide, including from tourism boards, travel agencies, tour operators, hotels and airlines. This year’s event will have an additional presence from Hajj and umrah providers, financial institutions, tourism project managers and consultants as well as all those who are keen to launch their brand to the growing Muslim travel market. 

The three-day exhibition will open to the public on the final day. It will feature over 100 exhibitors.

Interested?

Send an enquiry
Register

Islamic arts symposium to be held at Islamic Museum of Australia in March 2016

The Council for Australia-Arab Relations and the Islamic Museum of Australia present An International Islamic Arts Symposium on 5 March 2016, on the theme Bridging the Gulf: How are we affecting change through art?.

The event will be followed by the Islamic Museum of Australia Annual Fundraising Gala Dinner 2016, on 6 March.

Interested?

The symposium will be held on 5 March at the Islamic Museum of Australia from 9am. Call 1300 915 71 to register

The Islamic Museum of Australia Annual Fundraising Gala Dinner 2016, will follow on 6 March at 6pm, to be held at 215 Bell Street, Preston 3072, Melbourne. A table of 10 costs A$1,000 while individual tickets are priced at A$110 per person. Buy tickets or call 1300 915 71 with questions

Gingko Library conference calls for 2016 papers

The Mercantile Effect: On art and exchange in the Islamicate world during 17th - 18th centuries, a conference by the  Gingko Library, will be held from 18 to 19 November 2016 in Istanbul. The Gingko Library is a project promoting dialogue with the Middle East and North Africa (MENA) through education, information, an annual conference and publishing programme. It aims to publish one hundred books over the next ten years that present the latest work in all languages and across the full range of humanities, social sciences and sciences relating to the MENA region.

The Gingko conferences are designed to complement the Gingko Library. The annual Gingko Library Conference, for scholars, public figures and members of the wider public who are engaged with issues concerning the MENA region, are designed to foster dialogue between people of different ethnicities and cultures, and promote mutual understanding based upon shared interests and concerns. Each year the conference will take as its base one of the subject areas in which the Gingko Library publishes.
The development of mercantile networks and global trade routes in the early modern period relied on the emergence of new institutional and cultural methods of exchange. This conference invites papers that take a trans-disciplinary approach, looking at the specifics of art objects and ideas. The focus will be on those regions where Islam was the religion of the majority and informed the cultural position, but did not necessarily impose a religious mandate for action in the making and exchange of goods.

Interested?

View more information on the call for papers. Abstracts for papers should be submitted by 5 February 2016.

Speakers will be given 15 to 20 minutes to present their papers at the conference. The presentations and discussions will be recorded and live-streamed to an audience at the Courtauld Institute of Art in London, and online. The Courtauld Institute of Art is a leading centre for the study of art history, conservation and curating.

Selected papers delivered at the conference will be published together in a volume by the Gingko Library, following peer review. Speakers at the conference may also develop their papers into book-length proposals to be submitted to the Gingko Library.

Key dates:

5 February 2016: Deadline for submission of abstracts and panel proposals
15 April 2016: Accepted papers and panels announced
16 September 2016: Deadline for paper submission
18 to 19 November 2016: conference dates
20 January 2017: Deadline for submission of revised papers for peer-review
and inclusion in conference publication
Roughly Q417: Publication of conference proceedings

The conference will include a gala reception on the evening of 17 November, during which the first title to be published in the Gingko Library Art Series, Art, Trade, and Culture in the Near East and India: From the Fatimids to the Mughals, will be launched.
      

posted from Bloggeroid

Bank Nizwa earns Best Performing Islamic Bank in Oman award at WIBC

In recognition of its role in spearheading the growth of Oman's Islamic finance industry, Bank Nizwa has won Best Performing Islamic Bank in Oman award at the 2015 World Islamic Banking Conference (WIBC) held in Bahrain. 

Bank Nizwa excelled in financial stability, financial performance, as well as governance and social responsibility, all part of the WIBC Leaderboard, an assessment tool specifically designed to gauge and list best performing banks.

Dr Jamil El Jaroudi, CEO of Bank Nizwa, said, "This win is another respected achievement for Bank Nizwa that demonstrates the determined efforts of the entire team to innovate and drive our growth, as well as that of Islamic finance in Oman.

"We will continue to elevate our performance and offer a competitive range of products and services that meet the evolving requirements of our expanding customer base."

The WIBC is the world's largest gathering of international Islamic banking and finance leaders. 

Interested?

View the full list of WIBC winners

AAOIFI-World Bank Annual Conference on Islamic Banking and Finance to take place early December

The Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) will host the AAOIFI-World Bank Annual Conference on Islamic Banking and Finance on 6 and 7 December 2015 in Manama, Kingdom of Bahrain. The conference, organised in partnership with the World Bank, will be held under the auspices of the Central Bank of Bahrain.

The conference is part of AAOIFI's ongoing consultative process with the international Islamic finance industry on the development and review of its standards on shari'ah, accounting, auditing, ethics and governance. Discussions at the conference will focus on the development of international Islamic capital markets as avenues for greater financial inclusion, and further progress on standardisation and harmonisation of international Islamic finance practices. Specific topics include the standardisation and harmonisation of sukuk markets, continuing development of sovereign and retail sukuk, development of Islamic private equity, venture capital and crowdfunding, as well as rating mechanisms for shari'ah compliance.

Dr Hamed Hassan Merah, Secretary General, AAOIFI explained that "development of Islamic capital market is vital to deepen Islamic financial system and support overall economic activities, hence AAOIFI must ensure that our standards can contribute positively towards the growth of international Islamic capital market, and this is what AAOIFI strives to accomplish. Furthermore, this conference will shed light on AAOIFI's latest accomplishments and developments in areas relating to Islamic banking and finance practices."

The new AAOIFI standards publications and digital versions of AAOIFI standards will be launched at the Gala Dinner on 6 December.

AAOIFI will follow the conference with training sessions for its Certified Shari'a Adviser and Auditor (CSAA) and Certified Islamic Professional Accountant (CIPA) qualification programmes from 8 to 11 December 2015. CSAA and CIPA are designed for Islamic finance professionals to gain technical understanding and assist application of AAOIFI standards in Islamic finance operations.

Interested?

Read the Suroor Asia blog post on Albilad Bank's sponsorship of the AAOIFI Shari'ah Standards publications

Contemporary challenges for Islamic finance discussed in Singapore on 22 October

Source: Event website.

Islamic Finance: Contemporary Challenges Conference 2015, to be held on 22 October at the Suntec Singapore Convention & Exhibition Centre, will debate the transition of Islamic finance into the mainstream, its value proposition for contemporary businesses, and its role in ethical finance.

Organised by RHT Academy, RHT Compliance Solutions, and RHTLaw Taylor Wessing, the full-day event will cover:

• Opportunities in Asia 
• Value proposition for businesses 
• Cross-border financial transactions 
• Governance and compliance 
• Financial innovations 
• Fintech in the Islamic financial landscape 
• Whether Islamic finance is more relevant in the era of ethical finance

Interested?

Register. Registration closes on 12 October 2015
View the agenda

International Conference on Islamic Economics and Finance to be held this September

The 2nd International Conference on Islamic Economics and Finance (IIEFC) will be organised by İstanbul Sabahattin Zaim University International Research and Study Centre of Islamic Economics and Finance (IZU-ISEFAM) in collaboration with Participation Banks Association of Turkey (TKBB), the World Bank Global Islamic Finance Development Center and Borsa İstanbul from 11 to 13 September 2015 at the headquarters of İstanbul Sabahattin Zaim University, in Istanbul, Turkey.

The conference aims to satisfy the need for an institutional approach to Islamic economics and finance in Turkey, and to further research. The agenda includes:

Islamic economics and history;
Islamic finance;
Islamic insurance (takaful);
Islamic financial instruments;
Islamic commercial law.

Mission of Hope behind a mental health conference for Australian Muslims

Source: Mission of Hope website.

Mission of Hope, a not-for-profit, community organisation with a focus on the Australian Muslim population, will be hosting a mental health conference on 27 May. 

Titled Culturally-Compentent Approaches to Mental Health Care: Exploring the Mental Health of Australian Muslims, the conference will be held at Bankstown Library and Knowledge Centre in Bankstown, New South Wales.

Click here to register and for more information. NGO and student rates are available.

Food and bio-industry conference in Brunei this May

Source: Brunei Darussalam government.

The two-day International Food and Bio-Industry Investment Conference will be held in Brunei Darussalam in May 2015 as part of the Sultanate's Brunei BioInnovation Corridor's (BIC) initiative. The conference and the BIC initiative are in line with the nation's intention to achieve further diversification, competitiveness and sustainability of the economy.

Source: Brunei Darussalam government. Aerial view, BIC.

Hosted by the government of Brunei Darussalam, the conference will align with BIC's purpose to promote Brunei Darussalam as a regional hub for bio-industry research and innovations, with a focus on halal food products, cosmetics, pharmaceuticals, biotechnology and logistics. Delegates will include senior government officials; business executives, investors, as well as high-profile speakers from around the globe. Topics of discussion are to cover economic opportunities in addition to in-depth bio-innovation.

Source: Brunei Darussalam government. BIC masterplan.

"The BIC spans an area of approximately 500 hectares, and will attract investment in research and development, manufacturing, and commercial industries. It is an additional sector that will strengthen the economy," said His Majesty The Sultan Haji Hassanal Bolkiah Mu'izzaddin Waddaulah ibni Al-Marhum Sultan Haji Omar 'Ali Saifuddien Sa'adul Khairi Waddien, the Sultan and Yang Di-Pertuan of Brunei Darussalam on the occasion of HM's 68th birthday.

The BIC, in the Brunei Muara District, is an initiative led by the Ministry of Industry and Primary Resources of Brunei Darussalam. The BIC is a mixed use environment able to accommodate research and innovative technology applications. It is anticipated to provide up to 28,000 full time employment positions, in which 9,500 roles would be related to food processing. 

Discussions are in progress for developing Phase 1 (37 hectares of land to be subdivided into 25 plots) with investors. Approximately 30% or up to 195 hectares of land is earmarked for industrial usage, and 25% of land will be allocated for green space. 

Halal World Food looks at future of halal food industry at Gulfood 2015

Source: Gulfood.

Dubai, a primary global trading hub for the international halal food industry and a strategic enabler in the emirate’s long-term vision to become the global Islamic economy capital, is hosting over a thousand halal food companies at Halal World Food presented by the 20th Gulfood, the world’s biggest annual food and hospitality trade show, taking place from 8 to 12 February 2015 at Dubai World Trade Centre (DWTC).

With more than 80,000 international food industry professionals due to attend the largest edition of Gulfood to date, Halal World Food is arguably the world'’s biggest annual halal food sourcing trade show. The specialist, show-within-a-show will cover all halal-related aspects of global food service, retail and hospitality sectors to highlight the depth and variety of international halal products, from energy drinks, vegan and vegetarian foods to meat and poultry, canned goods, gourmet and fine foods.

“The global halal food market now accounts for a fifth of the world’'s food trade (Datamonitor, 2014), and as the primary trading hub for halal food in the MENA region, Dubai has both the ambition and world-class infrastructure to become a worldwide halal centre,” said Trixie LohMirmand, Senior Vice President, Exhibitions & Events Management, DWTC. 

"“Gulfood is one of the most important international platforms for the global food trade and the strategic enhancement of our Halal World Food initiative will ensure the show continues to play a leading role in the growth of the halal food sector, a key enabler in realising Dubai’'s vision to become the global Islamic Economy capital," she said.”

With GCC halal food imports projected to rise from US$ 25.8 billion in 2010 to US$ 53.1 billion by 2020 (Economist Intelligence Unit), the UAE is progressing a series of initiatives designed to propel its position at the forefront of the global halal food industry. 

In 2012, the UAE was granted a three-year chairmanship of the first technical committee for halal food standards, underlining the global significance of the country as an important market and its ascendancy as a halal hub in the region. Anticipation runs high as the Emirates Authority for Standardisation and Metrology (ESMA) and Dubai Municipality work to establish unified halal standards that will, in the future, be introduced to all Islamic countries. In addition, government officials announced in 2014 that Dubai has dedicated 6.7 million square metres of land in Dubai Industrial City for a dedicated ‘Halal Cluster’ reserved for manufacturing and logistics companies dealing in halal products.

The inaugural Halal Investment Conference on February 10 as part of the three-day Gulfood Leaders Events programme will cover the implications of new developments in the halal industry. It brings together key halal sector players and senior government decision makers to discuss commercial and business opportunities. Questions to be discussed include

• The role of 'halal' in Dubai’'s capital of Islamic Economy vision, Business opportunities in the global halal marketplace, 
• Halal regulations and governance in the GCC, 
• The impact of any new halal regulations on the global food industry, 
• Positioning of halal products in mainstream markets, 
• Successful halal marketing, and 
• The meaningful transformation of the halal brand in non-Islamic countries.

Representatives from Al Ghurair Investments, Al Dahra Agriculture, Zilzar Technology, Emirates Authority for Standardisation and Metrology (ESMA), Dubai Municipality, Mondçlez International, Danone, RAQAM Consultancy JLT, Just Falafel and GMA Middle East will speak at the conference.

"“Being an all-halal food focused manufacturer, Dubai, the main hub for the halal food industry, is one of our primary and biggest markets. Through our participation at Gulfood, and through Tilly Sabco'’s sponsorship of the conference, we hope to expand our presence in the region and to highlight the key differences in the definition of ‘'halal’', the most widely abused term in the world. 

"Because no unified halal standard exists in the global market, even those products that are labeled 'halal' might not necessarily be fit for Muslim consumption. We believe that Dubai, with its vision to become the capital of the Islamic Economy and the introduction of its halal scheme – a set of global unified standards – will level the playing field for all halal manufactures and restore consumer confidence,”" said Idris Mohammed, Director, Tilly-Sabco Bretagne – the French leaders in chicken production and slaughtering, and the title sponsor of the Halal Investment Conference.

With the vast majority of the world’'s major halal-certified beef and mutton producers and exporters represented at Halal World Food and Gulfood 2015, Uruguay XXI – the South American country’'s Institute for Promotion of Investments and Exports of Goods and Services, –revealed food and beverage exports to the Middle East have grown 77% since 2010.

“Uruguay is currently the world’s sixth largest exporter of beef and the Middle East is a key export territory for Uruguayan meat exporters,” said a Uruguay XXI spokesperson. “Food and beverage exports to the Middle East accounted for 95% of total Uruguayan exports to the region last year. The halal sector is an increasingly vital revenue source for every global cattle exporter and Uruguay companies – which already export halal-certified beef to countries including Russia, China, Canada, Germany, United States, Italy and Kuwait – are in a fantastic position to leverage increased market share across the Middle East.”

Jebel Ali Free Zone (Jafza), the flagship free zone business of Dubai, will be highlighting its key offerings as the trade and logistics hub for the food and beverage sector at Gulfood. 

Jafza’s strategic advantage is its location between Jebel Ali Port and Al Maktoum International Airport, facilitating speed-to-market. It has seen a significant increase in the demand for food and beverages facilities at the Free Zone in 2014. The upswing is largely driven by high quality custom-built storage and manufacturing infrastructure solutions the Free Zone offers, including the right logistics links that the industry needs. The sector is estimated to have generated trade worth AED15.50 billion at Jafza in 2013, and the Free Zone expects to double the trade volume in the next five years.

Jafza will also be using the show as a springboard to highlight its plan to build a state-of-the-art Halal Zone in the Free Zone to serve international markets and another Halal Zone in its sister company TechnoPark to serve the local and GCC markets.

The Malaysia External Trade Development Corporation (MATRADE) is leading a delegation of 81 Malaysian exhibitors to Gulfood 2015. MATRADE’s 11th participation in Gulfood will feature frozen food items, wide range of palm oil products, confectioneries, sauces and paste, ready-to-eat items, beverages, health food, pasta and food ingredients.

According to MATRADE, Gulfood will give its delegates good exposure to the demands from the UAE, which is the gateway to the Gulf region. MATRADE also shared that Malaysia’s exports of processed food to UAE have increased from RM299.7 million in January to November 2013 to RM469.4 million for the same period in 2014 . It is expected that the exports of Malaysia’s processed food to UAE will continue to grow in the coming year as Malaysian food products have widely accepted assurance standards, quality and reliable halal standards.

Six Chilean businesses will present their halal products, including energy drinks, fruit juice, bottled rainwater, extra virgin olive oil, functional foods from Chilean berries such as maqui (Aristotelia chilensis, with a taste similar to blueberries),
and murta (Ugni molinae, which can be used to make jam), Omega 3 for human or animal consumption, chocolates and other gourmet foods, as well as Merkén (smoked Chilean aji chilli peppers) and other condiments - all processed and produced under halal certification.

"Practically all of the national halal-certified businesses are exporting, or are looking towards exporting shortly to markets with Muslim populations. Some of these businesses have exported to countries with majority Muslim population in the North of Africa (Morocco, Egypt), Middle East (United Arab Emirates, Saudi Arabia, and Jordan), Southeast Asia (Indonesia and Malaysia) as well as for the consumption of minority populations in Europe and the US. It is estimated that in 2013, they exported close to US$11 million," commented Lorena Galla, Chilean Commercial Assistant in Dubai.

Part of the Dubai Food Festival, a city-wide culinary celebration running throughout February, the second annual Halal World Food at Gulfood 2015 plays a key part to further the global halal food market, which is expected to reach US$1.6 trillion by 2018. Global opportunities across for the halal market are predicted to reach US$10 trillion by 2030 (Global Futures and Foresights Study). 

Read our blog post about Gulfood here.
View the list of Chilean business present at the fair here.
Register for the conference here. Download the free mobile app here.

OIC, IDB announce urgent financial aid for countries at risk of Ebola epidemics

Donors to the joint Conference of the Organization of Islamic Cooperation (OIC) and the Islamic Development Bank (IDB), held in Jeddah, Saudi Arabia, have announced an urgent financial aid package to countries suffering from the threat of Ebola epidemics. In addition to the financial pledges, the assistance also includes material resources, equipment and supplies, as well as trained heath workers and an associated workforce.

The IDB announced two agreements of US$45 million signed with the Government of Guinea which consists of two aid packages, a of US$10 million to fight poverty, and US$34 million to support health programmes, including US$6 million to fight Ebola. HE Ahmad Mohamed Ali, President of the IDB, and HE Ambassador Mohamed Shareef, Ambassador of Guinea to the Kingdom of Saudi Arabia, signed the two agreements on the sidelines of the conference.

The IDB also announced at the conference a grant of US$10 million as seed money for mobilisation of additional resources from NGOs and philanthropists to support efforts to fight Ebola virus disease (EVD). The Saudi Fund for Development on its part contributed US$30 million for Donka Hospital in Guinea.

In their welcoming remarks at the opening session of the Conference, the Secretary General of the OIC, Iyad Ameen Madani and the President of the IDB, Dr Ahmad Mohamed Ali, conveyed their sympathy with and support for the peoples and governments of the affected countries and recounted the efforts exerted by the OIC and the IDB since the start of the EVD outbreak earlier this year.

The organisations, institutions and individuals who attended the conference expressed their readiness to provide financial and technical assistance to advance the health systems and structures in the affected countries.

The conference reiterated the need for effective, coordinated and speedy response to the EVD epidemic. It also noted the necessity of community mobilisation, creating public awareness and educating people in dealing with situations resulting from this epidemic.

A large number of philanthropist organisations and individuals, NGOs and representatives of World Health Organization (WHO) and Medecins Sans Frontieres (MSF) attended the conference, which was chaired by the Deputy Health Minister of Kingdom of Saudi Arabia, HE Dr Mansour Nasser Alhowasi.

In addition to high-level delegations from the two EVD-affected states, Sierra Leone and Guinea, the Minister of health of Turkey and Uganda, the Deputy Minister of Health of Malaysia, advisors to the health ministers of Senegal and Cote d’Ivoire, and high-level delegations from OIC member states also participated in the conference. Representatives of the Office of the US President’s Special Envoy to the OIC and the Centre for Disease Control (CDC) attended.

As a part of OIC’s efforts to mobilise support for Ebola-affected countries, a meeting of OIC member states was held in Geneva on 29 September 2014. The meeting was chaired by the honourable Minister of Health of Indonesia, and attended by the WHO Director General Dr Margaret Chan. The Resource Mobilization Conference in Jeddah was held as a follow-up to the Geneva meeting.

The assistance package announced during the conference is in line with the priorities and objectives outlined in the WHO Ebola response roadmap, and takes into account the latest assessment of the situation provided during the meeting by representatives of the affected countries, WHO, MSF and other organisations and NGOs which have been actively involved on the ground in the fight against EVD.

Japan Halal Expo breaks new ground for halal industry in Japan

Source: Japan Halal Expo 2014 event organisers. UPIN-IPIN were unveiled as the official mascots of JAPAN HALAL EXPO 2014 by the organisers in late September.

Japan Halal Expo 2014, a trade fair and forum to be held in November at Makuhari Messe, is set to discuss the expansion of halal products and services made in Japan both domestically and globally. This is the first-ever International Forum and Exhibition held in Japan on the halal industry. Entrance to the exhibition is free.

According to the organisers, Makuhari Messe, Halal Media Japan, and Les’ Copaque Production of Malaysia, more than 10 million tourists visited Japan in 2013, with tourists from from the predominantly Muslim countries of Malaysia and Indonesia in particular increasing significantly due to relaxed visa requirements. The numbers are expected to rise as the middle class grows in both countries. At the same time Japanese SMEs of food products are becoming more interested in Islamic countries as an export market. Some are also predicting that the halal market will also grow in Japan.

The event, from November 26 to 27, is designed to bring together interested parties so that they can understand more about domestic and international halal trends and build awareness that halal certification from Japan is already accepted in some Muslim markets. The organisers are focusing on seven other countries in Asia and the Middle East, namely Malaysia, Singapore, Thailand, India, Turkey and the UAE, and expect to host up to 250 delegates at the forum as well as 100 or more exhibitors. 

At the time of writing, participation from the following had been confirmed:

● International Institute for Halal Research and Training (INHART: Malaysia)
● International Islamic University of Malaysia（Malaysia）
● United World Halal Development (Singapore)
● The Central Islamic Committee of Thailand (CICOT: Thailand)
● Halal Standard Institute of Thailand (HSIT:Thailand)
● Halal India (India)
● Association For The Inspection And Certification of Food And Supplies (GIMDES:Turkey)
● Islamic Center Japan（ICJ:Japan）
● Japan Islamic Trust（JIT:Japan）
● Nippon Asia Halal Association（NAHA:Japan）

The event organisers unveiled official mascots Upin and Ipin in late September, and unveiled the list of exhibitors online on October 10.

Click here to register for the forum.

Starch industry eyeing Middle East

Source: StarchWorld MidEast website.

The city of Istanbul will host the StarchWorld Mideast: Starch Derivatives, Sweeteners & Polyols conference against the backdrop of the Middle East being the highest F&B growth area and a big market for halal products. 

The conference, which runs from 4 to 5 November at the Elite World Istanbul Hotel, aims to draw industry attention to emerging opportunities in starch, food and industrial markets in the Middle East.

The Middle East region represents the highest growth area for the food and drink industry in the world. The rapidly changing demographics in the region and the growth of consumer choices presents an exciting opportunity for the food ingredients world to offer new products and solutions. 

Starch can be used in many applications, including emulsifiers, stabilisers, thickening agents, and coated papers.  Increasing applications within the food and beverages sector is the strongest driver for the global modified starch market, but there are also opportunities for starch in industrial use.

Starch producers from Turkey to Egypt are expanding their production capacities to take advantage of the regions’ untapped opportunities. One of the highlights in the industry last year was the news that Cargill and Arasco had created the first starches and sweeteners joint venture in Saudi Arabia, Middle East for Food Solutions Co (MEFSCO). 

The summit kickstarts with a Global Overview of the Sugar Economy, Trade and how this Impacts the Markets for Starch-based Sweeteners in the Mideast Region by Simon Bentley, Senior Consultant, LMC International, and is followed by Nedim Elcheik, Market Development Director of Cargill Tarim Ve Gida San. Tic., who will give an update on corn milling joint venture operations with Arasco in Saudi Arabia in a session titled Regional Starch & Sweetener Markets Outlook.

Other key sessions include:

• Formulating Halal products using Starch Based Gelling Agents by Dr Piet Buwalda, Head of R&D, AVEBE Group (HQ)
• Halal Critical Points for Starch Production and getting Certified in New Markets, by Farhan Tufail, General Manager, Halal Certification Services. 

Click here for registration details.