Turkey has great potential for Islamic insurance, report says

Turkey has significant potential in the sector of Islamic insurance, as participation banks in Turkey held $39 billion in Islamic assets in 2012 and these are expected to grow to $121 billion by 2018, according to the Global Islamic Insurance Forecasts Report prepared by Ernst & Young (EY) for the period 2013-2014.

The report also stressed that Turkey's high potential for Islamic insurance is based upon its young population, along with ongoing regulatory reforms and a government that is willing to promote financial inclusion through participation banking.

However, as only four participation banks currently operate in Turkey, there is a major supply-side constraint, as well as limited legal infrastructure in the Islamic finance sector. In a press statement released on Feb. 28, EY Turkey Audit Partner Seda Hacıoğlu stressed that Turkey does not have a clause on Islamic insurance in its insurance law yet, adding that the lack of a developed Islamic capital market by world standards is the primary obstacle to the spread of Islamic insurance in Turkey.
Another factor negatively affecting Islamic insurance in Turkey is the problematic pricing of this insurance, which leads prices to remain relatively low in the sector. Hacıoğlu said that Islamic insurance is based on making profit at the end of a certain period, stressing that this factor constitutes a threat and weakness in the sector.

According to the EY report, global Islamic Insurance assets had reached $11 billion in 2012, a 16 percent increase compared with previous year. Islamic insurance is widespread in Arab countries, Malaysia, Indonesia and also Europe and the US. “It is estimated that currently over 200 Islamic insurance firms operate in 33 countries, while 51 percent of the participation was from Saudi Arabia, followed by the Asian region with 25 percent, in 2012,” Hacıoğlu stated.

Hacıoğlu predicts that as the variety of Islamic bonds starts to diversify, asset management in the Islamic insurance sector will also begin in Turkey, along with an increased trade volume and interaction with Arab countries.


Source: http://www.todayszaman.com/news-341612-turkey-has-great-potential-for-islamic-insurance-report-says.html

Japanese Univs Offer Halal Food

A growing number of Japanese universities are offering halal meals in their menus to cater to the needs of the growing number of Muslim students.

"I'd been making my own meals until now, so this is helpful," a 21-year-old student from Malaysia, eating a halal curry dish, told The Mainichi on Sunday, January 26.

The student was at the student cafeteria at the University of Yamanashi, where new items labeled with Halal stickers were added to the menu.

He is one of approximately 180 foreign students at the school, some 50 are Muslims from countries such as Indonesia, Malaysia and Bangladesh.The cafeteria has offered a total of 10 types of halal meals since December 2013.

Serving Japanese universities, the Tokyo Business Association of University Cooperatives purchases chicken and beef approved as halal by the Malaysian government for the Kanto region.

Catering to Muslim students’ needs, the cafeteria prepared Muslims’ food in the same area of non-Muslims, though using different pots and plates to serve the halal meals.

"Countries and sects vary on what food they consider appropriate," the cafeteria manager, Tetsuya Tanahashi, said, "and so we held numerous discussions with foreign students."

The Yamanashi University was one of at least 19 universities who have incorporated halal options into their menus, according the National Federation of University Co-operative Associations (NFUCA).

The meals are prepared and served in accordance with Islamic law, which stipulates the correct method of draining animal meat of blood and prohibits the consumption of pork products and alcohol.

The University of Tokyo was the first to incorporate halal meat into its meal options in 2010 using meat ordered through the association, and four universities in the region have followed suit.

Attracting Muslims

Setting a goal to double the number of foreign students by 2020, Japanese authorities introduced halal meals to attract Muslim students.

"Because many of the emulsifying agents used in Japan are derived from pork, Japan is known among Muslims as a country where they are unable to eat," Takeshi Ito of the nonprofit organization Japan Halal Association (JHA) said.

The Japanese government has set a goal of bringing 300,000 foreign students into the country by 2020, about twice the number of the current 140,000.

But, the number of Muslim students from Indonesia and Malaysia in the 2012 academic year basically remained unchanged from the previous year at 2,276 and 2,319, respectively.

"Whether or not a place offers suitable eating options is a big factor in deciding where to study," Ito added.

Ikhwan Farid, a Malaysian student at the University of Yamanashi, was the one who proposed incorporating halal options into the school cafeteria menu.

"After studying computer engineering, I want to contribute to linking Malaysia and Japan in the future. But having to eat grilled mackerel and udon noodles every day at the cafeteria is rough,” he said.

“Once halal food becomes more widespread, it'll be easier for younger people to come to Japan."

Islam began in Japan in the 1920s through the immigration of a few hundreds of Turkish Muslims from Russia following the Russian revolution.

In 1930, the number of Muslims in Japan reached about 1000 of different origins.

Another wave of migrants who boosted the Muslim population reached its peak in the 1980s, along with migrant workers from Iran, Pakistan and Bangladesh.

Japan today is home to a thriving Muslim community of about 120,000, among nearly 127 million in the world's tenth most populated country.

Source: Onislam.net

Japan: company ensures high quality rice is halal for Muslims

ODATE, AKITA PREF. – A group of small companies has launched a program to offer the Akita Komachi variety of rice to Muslim visitors to Japan, hoping to export the high-quality grain to Islamic nations in the future.

The program began after Feed Innovation Inc., a food venture business in Odate, Akita Prefecture, and Hosana Kikaku, a farming corporation in the city, had their rice production methods certified as halal, or complying with Islamic law, last August.

It was the first and so far only halal certification of rice in Japan, according to the companies.

“We want Muslim tourists coming to Japan to know the good taste of Akita Komachi,” said Koki Sato, 29, president of Feed Innovation.

Halal is an Arabic word meaning “permitted” or “lawful,” and halal food is free from ingredients banned by Islamic law, such as alcohol and pork. To receive certification, an application is filed with a designated Islamic organization for inspection of its production and processing systems.

Feed Innovation, which produces and markets organic farm products, started selling rice harvested last autumn in packages with a halal certification mark. It currently supplies small packages of halal rice to Japanese airports with international routes, as well as in larger quantities to hotels and inns.

The company expects to ship at least 20 tons of halal rice this season. It also hopes to begin exports in the near future to Indonesia and other Southeast Asian nations where Japanese cuisine is popular.

According to the Halal Japan Business Association, an increasing number of Japanese companies are winning halal certification for their food products in the wake of Tokyo’s selection to host the 2020 Summer Olympic Games and UNESCO’s decision to add traditional Japanese cuisine to its Intangible Cultural Heritage list.

There are an estimated 1.9 billion Muslims in the global population of about 7.2 billion. Some demographic experts forecast that Muslims will account for one-third of the world population by 2050.

Japanese companies are pinning high hopes on the growing Islamic market as the domestic market will continue to shrink as a result of the aging population and dwindling birthrate.

The pursuit of halal authorization is not a “temporary boom,” an association official said.

Sato of Feed Innovation underscored the importance of mapping out marketing strategies to make the best use of halal authorization.

“We hope to promote Japanese halal food items overseas,” he said.

Source: Japan Times

Arab countries can alleviate poverty through Islamic microfinance

Poverty can be reduced in Arab countries by taking Jordan as a regional hub of Islamic 
microfinance

(Jordan) Poverty is increasing rapidly in the Arab countries which are blessed with surplus of mineral and oil resources, one of the reasons is absence of financial products for poverty alleviation which are compatible with their religious, cultural and social values and beliefs While through Islamic microfinance poverty can be controlled over and poor can be brought into the financial inclusion in Arab countries. These views expressed by Muhammad Zubair Mughal, Chief Executive Officer - AlHuda Centre of Islamic Banking and Economics (CIBE) in an international workshop on Islamic Microfinance jointly organized by AlHuda CIBE and Arab Student Aid International in Amman - Jordan.

To discuss the current status of poverty in Arab World, he said that poverty is increasing rapidly in Syria, Iraq, Libya, Egypt, Yemen and Tunisia as the consequence of Arab Springs while poverty already exists in Sudan, Somalia and other Arab countries which can be addressed effectively through Islamic Microfinance as it quite suited to their religious beliefs. He, presenting the poverty index in Arab countries, evidenced the substantial existence of poverty in Arab countries including Iraq by 23%, Iran 18%, Yemen 35.8%, Jordan 13.5% and Lebanon 28% etc.

He said that if we look into the geographical location of Jordan it seems to be surrounded by the conflict zones including the neighboring countries like Syria, Iraq, Palestine and Lebanon. While Micro enterprise development, educational development, refugees issues and job creation can be enhanced quickly through Jordan taking as regional hub for Islamic microfinance.

Addressing to the event, Ameera Yaaqbeh Hilal, Executive Director – Arab Student Aid International, said that Islamic microfinance is the critical need of time through which poverty can be alleviated from society by providing Shariah compliant loans to the students and enhancing their vocational capabilities. She also announced to establish the first Islamic microfinance institution in Jordan by utilizing AlHuda CIBE expertise and technical assistance #  

اسلامی ما ئیکرو فنانس عرب ممالک میں غربت ختم کر سکتا ہے

Expand Export Of Malaysian Halal Products Using Pakistan As Platform, Says Council

Malaysian companies should make Pakistan a platform to expand the export of halal-based products to the Middle East and Central Asia.

This can be done by utilising its abundant resources, said the Pakistan-Malaysia Business Council chairman, M. Bashir Janmohammed.

Pakistan is ranked fifth globally for milk production, has the second largest rock salt reserves, is the third largest in mango production and the tenth largest for Mandarin orange production, with an animal population of over 110 million for cattle, buffaloes, sheep, goats, camels, among others.

Bashir was confident that Malaysian companies, with their expertise in processing and packaging, an efficient supply chain and well known marketing skills, can jointly captitalise on Pakistan's unique geographical location.

"Pakistan can serve as a perfect corridor to expand the business in the halal sector," he told Bernama, after a meeting with Plantation Industries and Commodities Minister, Datuk Amar Douglas Uggah Embas here last night.

Uggah is leading a palm oil promotion mission to Pakistan and Iran from January 14 to 22.

He is accompanied by Malaysian Palm Oil Council (MPOC) Chairman, Datuk Lee Yeow Chor, Malaysian Palm Oil Board Director-General, Datuk Dr Choo Yuen May and MPOC Chief Executive Officer, Tan Sri Dr Yusof Basiron.

Bashir also invited Malaysian companies to Pakistan and search for potential joint ventures in various industrial sectors, including ship breaking, pharmaceuticals, palm oil refining, food processing, sports goods and in the
construction sector.

"We also need urgent help in the exploration and production of gas as well as projects in the energy sector," he said.

To date, Malaysian companies have invested in Pakistan in an oil refinery, a liquid cargo terminal, bulking installation of edible oil storage, rice, energy, the infrastructure sector and oil exploration.

On trade, Bashir pointed out that it is crucial to create an awareness of the trade opportunities for the business community of both countries, and maximise on each other's potential to take advantage of the Free Trade
Agreement sealed in November 2007.

Bilateral trade has been on an uptrend since 2007, moving from US$1.362 billion (RM4.49 billion) to touch USUS$2.8 billion in 2011.

Unfortunately, the bilateral trade saw a decline of 24.8% in 2012 to US$2.11 billion, with exports from Pakistan amounting to US$252.89 million and imports from Malaysia at around US$1.86 billion.

Bashir said the balance of trade has been a negative for Pakistan for over a decade and requiring a narrow-down, while increasing Pakistan's exports to Malaysia.

"There is a need to address the trade imbalance by diversifying trade products besides palm oil.

"This can be done by increasing the volume of exports of non-basmati rice, halal food products and frozen seafood to Malaysia. This is given the sizeable demand and fact that Malaysia imports such products from neighbouring countries," he added.

At a dinner with over 30 Pakistani captains of industry, hosted by the Pakistan-Malaysia Business Council last night, Uggah in his speech said:

"Some of the issues raised by the council are under my portfolio and some under other ministries.

"But my responsibility is to take these issues back home for us to consider and improve our trade and investment relations,".

He also expressed hope that the Pakistani business community would realise that Malaysia's population currently stood at around 29 million – slightly higher than that of Karachi – and therefore, purchasing capacity was limited.

He also invited the Pakistani business community to consider Malaysia as a launching pad to penetrate the South East Asian market, home to 500 million people.

Source: Malaysian Digest

Halal Soap

Muhammad Zubair Mughal

zubair.mughal@halalrc.org

The relation between soap and human is as old as the history of culture. Soap has always been the part of civilized society in different shapes either in the shape of Soil collection or mixture of tree leaves and vegetables or mixture of ash and oils while, presently, it comes up with the unique blend of various chemical components, as it is known as liquid soap, beauty soap, toilet soaps and antibacterial soaps etc which is the dire need of each house. As per a careful estimate, about 6 billion people of the world use soap daily and this number is prominently increasing day by day.

But current chemical components and scientific developments have raised differnt questions about the Halal authenticity of soap and have evidently proved the involvement of non Halal ingredients i.e. Tallow extracted from the fat of swine, chemical from the haram animals’ flow “Satiric Acid” which is obtained from Lards and all this mixture and blending have distinguished between the division of Halal and haram. While in Islam the matter of Halal and Haram is not only confined to foods rather it is also applied on services (Islamic Banking, Islamic mode of businesses and Islamic Finance etc), clothes and tangible items such as Cosmetics, Soap and Paint  etc. When man enters in the category of impurity by touching some haram animals and it becomes mandatory to have shower (Ghusal), then now would it be justified to take bath while using the soaps which is produced with chemicals from the ingredients obtained from same animals? Will his worship be accepted after using that soap? 

Hence, it is needed that we should discriminate Halal and Haram in tangible (consumable) items along with food and services. We buy and adopt with joy the leather made imported items such as shoes and hand bags imported from Italy and other countries but do we ever think of the ingredients used in those products and the skin of the animal which was used in those products? Whether the Halal animals are utilized in those countries? If “No” then which animal’s skin was used as leather? Which chemicals are used in dying processing of towel that we use to clean the face. Is it obtained from swine’s Fat? Which chemicals are used in our paint industry etc? These are the matters of deep concentration that I leave on the readers who need to make the efforts to avoid haram a part of our life. The prime objective of this piece of writing is not to put the Muslims into the fear rather to highlight the issues caused by latest chemical evolution. If we analyze the current volume of cosmetics industry globally which is about US $ 335 billion but share of Halal cosmetics is US $ 13 billion while our, Muslim, population is about 1.6 billion which is the 26% of whole world population, so, as per these figures

non-Halal cosmetics have more consumption in Muslim countries and the main reason behind it is the lack of awareness and no discrimination between Halal and haram in material items. May Allah (Subhana wa’a Taala’a) forgive us for the sins caused by lack of awareness and give us enough strength to avoid them in future (Ameen). 

Halal Research Council (HRC), keeping in view the social, religious and professional responsibilities, inaugurated a specialized department for state of the art research in Soaps, Cosmetics, Dyeing and Paint Chemical to resolve the problems in these industries through in depth research to give a clean and purified society to the Muslim world. 

Halal Soap

Penang halal expo from Friday

GEORGE TOWN: The Penang International Halal Exposition and Convention will be held from Friday to Sunday, here, for the fifth time.

State Domestic Trade and Consumer Affairs committee chairman Datuk Abdul Malik Abul Kassim said over 200 local and foreign companies would set up their booths at Subterranean Penang International Convention and Exhibition Centre.

"The halal market is an emerging industry worth billions of ringgit in the global market.

"The huge international market is a big opportunity for Malaysia trade exhibitors to showcase their products," said Malik.

He said a total of 266 booths would be put up at the concourse and main arena.

Malik said the international exhibitors would be from the Netherlands, Belgium, United Arab Emirates, Algeria, Morocco, Turkey, Iran, Pakistan and Thailand.

He added that non-Muslim groups had been the main consumers in the halal industry. 

Source: NST

Muslims having problem in "halal meat" in US

Owner of the biggest halal slaughter facility said 60 percent of "halal" certified meat was not actually halal

NEW YORK - One of the most important questions for Muslims abroad is "halal meat" certificate and how they can trust them.

The need of "halal meat" for millions of Muslims in the US is met by many facilities.

The slaughter facilities are inspected by several certification bodies but there are also black sheep among them which send the certificate via internet.

Especially in New York's smallest and most densely populated neighborhood, Manhattan, you can buy "halal meat" phrased food on every corner. However, there are some questions about the hygienic conditions and whether the meat was slaughtered according to Islamic law.

Suleyman Duman, an official for Islamic services in Turkish Consulate General in New York told AA, "our people who live abroad must examine whether the meat they consume is halal slaughtered or not."

Duman said that a Muslim had to say the words "Bismillahi Allahu Akbar" before slaughtering the animal, and added that he had to cut its throat and let it bleed before using electroshock.

Ali Kucukkarca, the owner of the biggest halal slaughter facility in the east of the US, told AA that many institutions which gave a halal certificate were not reliable.

Kucukkarca said, "60 percent of the meat which is being sold with halal certificate in New York and New Jersey is not halal." Kucukkarca underlined that some Turkish butchers also sold meat which was not halal and noted, "one of the most reliable and biggest institutions giving "halal meat" certificate is 'Shari'ah Board of America'."

Kucukkarca reminded that the Jewish butchers were also checked by inspectors who handed out certificates. "But the inspectors, who check the Muslims do not visit their stores or control anything because the Muslim community do not make such a demand."

Source: Turkish Press

Jakim slams falsifying of halal logo on pictured beer can

KUALA LUMPUR: The Malaysia Islamic Development Department (Jakim) today denied approving the use of the halal logo on alcoholic drinks as depicted on a beer can shown on Facebook and the Whatsapp application.

The department's Halal Hub director, Hakimah Mohd Yusoff in a statement said Jakim had lodged a report on the matter at the Putrajaya police station for investigation.

This followed complaints and information received from the public on the picture of the Carlsberg can of beer with the halal logo on it appearing on the social media.

"We stress here that Jakim has never issued the halal certification or approved the use of the halal logo by the company or on its products. In fact, other products produced at the same manufacturing plant would not be issued with the halal certification or logo even it these are not alcoholic drinks," Hakimah said.

She said action could be taken against any quarters under the Trade Description (Certification and Marking of Halal) Order 2011 for misuse of the halal logo.

"Jakim regards the display of the picture as ill-intended and an attempt to undermine the department's credibility as a body responsible for halal certification in Malaysia and which is recognised nationally and internationally.

"The action will also not only create negative perception of Jais but could also hurt religious sensitivities.

"Therefore, Jakim condemns the falsifying of the halal logo, whether deliberately or with the intention to provoke, which could also create polemic among the public on the matter," she added.

She hoped consumers would not be taken in by false news spread via the social websites by irresponsible quarters and that such misdeeds should stop.

Meanwhile, Putrajaya police chief, ACP Abdul Razak Abdul Majid, when contacted, confirmed having received the police report on the matter.-- BERNAMA

Source: www.nst.com.my

Jordan is promoting Islamic/Halal Tourism

Jordan has launched a campaign to attract tourists from Muslim countries to boost the domestic tourism sector, reported the al-Hayat newspaper.

“The board launched a campaign to promote Islamic tourism in Jordan and attract tourists from Muslim countries, especially from Malaysia and Indonesia, given that Jordan is a base and a gateway for holy Muslim and Christian shrines,” said Abdul Razaq Arabiyat, the managing director of the Jordan Tourism Board, in a released statement.

The campaign aims to boost the profile of religious sites in Jordan as an attraction for foreign tourists and seeks to promote religious tourism as “a main source of tourism revenues in the kingdom,” added Arabiyat.

A number of promotional programs have been adopted by the board to attract those Muslim tourists intending to travel to Saudi Arabia to perform the annual hajj pilgrimage, who then continue on with their religious tour by traveling to Jordan and Palestine.

“We’ve signed a number of agreements with tourism companies in Indonesia and Malaysia on visiting religious shrines in Jordan and Palestine… such as the site of the battles of Islamic conquests,” said Arabiyat.

International Halal accreditation centre to open in Dubai

The centre will ensure all products are free from chemical or artificial additives

Hussain Nasser Lootah, Acting DG of Dubai Municipality.

Dubai will soon have a new International Centre for Halal Food and Product accreditation in compliance with Islamic law.

Hussain Nasser Lootah, Director-General of Dubai Municipality, announced that the civic body will soon establish an international accreditation centre for Halal food in Dubai based on the initiative of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, to make Dubai the world capital of Islamic economy.

Lootah said that an action team has been appointed to work according to administrative decision No 359 of 2013 headed by Salem bin Mesmar, Assistant Director-General, Health, Safety and Environment Monitoring Sector, Dubai Municipality.

The members of the team include Khalid Sharif, Director of the Food Control Department; Amina Ahmed, Director, Accreditation Departmentp; Hawa Bastaki, Director, Dubai Central Laboratory; Noaf Al Naqbi, Head of Certification Bodies, Accreditation Section; Arif Marzouki, Head of Inspection and Certification Section; Maryam Salem Al Sallagi, Senior Food Microbiology Analyst; and Yousef Abdul Samad Al Rashid, Operations Health Specialist.

"The proposed centre will undertake the required tests for Halal food and other products to ensure that all such products are free from any chemical or artificial additives which are not complying with Islamic law, with the aim to be the first international reference in the food industry worldwide," Lootah added.

Salem bin Mesmar said, "A specific centre for accreditation and certification has been already established for the comprehensive systematic coverage of Halal food operations at local level. The current facilities and infrastructure of Dubai will help it easily establish this first international centre in the field of Halal food accreditation."

UAE: Halal food gains momentum

The halal food industry is gaining momentum in conventional and non-conventional markets across the globe due to its hygienic and safety qualities, say exhibitors at second OIC Halal Middle East Exhibition and Congress.

The industry stakeholders said investors are increasingly looking opportunities to make investments in halal food products to capitalise growth in this untapped market across many geographies. They also hailed various initiated launched by the UAE government to promote halal industry and said Dubai has strong potential to become the capital of Islamic economy in coming years.

The three-day exhibition and congress attracted exhibitors from non-conventional halal food markets like Italy, South Korea, Russia and Japan, among others. They were upbeat about the outlook of halal food market even in those countries where Muslims are in minority. Over 125 exhibitors and 200 delegates are attending the three-day event, which concluded on Wednesday.

“Halal food is picking up in Italy and we are confident of its success in the country because of its popularity even in non-Muslim population,” Mansur Giuseppe Baudo, audit manager at Halal Italia, told Khaleej Times.

He said Halal Italia is the Italian organisation for Islamic certification and it is also recognised from UAE’s Ministry of Environment and Water and Majlis Ugama Islam Singapura — Islamic Religious Council of Singapore.

“The UAE ministry issued a decree in 2012 to recognise Halal Italia certification, and now our certification is acceptable in all other countries of Gulf Cooperation Council including Saudi Arabia, Kuwait, Qatar, Oman and Bahrain,” he said.

Baudo said halal food is very popular in Italy and playing a key role in establishing close relations between East and West.

Echoed the same views from another non-conventional market, Korea Halal Association advisor Jo Young Chan said halal food prospects are bright in the country. “Our association is a non-profit body that has been formed to provide a common platform to stakeholders in Korea halal industry,” he said.

Chan said the association right now has only 10 members, but due to growing popularity and demand of halal products he is confident of about 200 to 300 members in next five years. “

Halal food industry is growing rapidly in Korea despite low Muslim population and the association will start issuing its own halal certification from next year,” he said.

The exhibitors from Muslim nations are also buoyant about the future of halal food industry and said enormous opportunities exist in this fast growing segment. They underlined the need to uniform standards for halal certifications to realise the true potential of halal trade even in conventional markets of Muslim majority population countries.

“Halal food is progressing well and we see a promising outlook for the industry in coming years,” said Darningsih Rustiadji, director at Indonesian firm Deka Adiguna.

She said Indonesia is a big potential market for halal food and demand for halal products is on the rise as people are more cautious about edibles and shifting towards halal items.

“Halal food is not only for Muslims, it is getting popular even in non-conventional markets in Europe and Asia as we secure orders for our products from Netherlands, Korea and Japan,” she said, and adding that there is need to explore markets in South America.

Rustiadji said Middle East is a big potential market for Indonesian halal food products. “We have more than 100 halal products and secured reasonable orders from Saudi Arabia and the UAE,” she said.

Hamed Abedian, commercial manager at Iran’s Sefid Goosht Hamoon Company, said halal food future is good due to its growing demand and awareness in major markets. “We deal in fresh and frozen fish, chicken and beef. We are participating in the exhibition for the first time and hope to get good business,” he said.

Abedian appreciated the halal exhibition and congress to promote the halal food products and called for more strenuous efforts to explore new markets across the world.

Source: halalfocus.net

Halal Industry Thrives In Russia

CAIRO – Foreseeing a bright future for halal industry, a growing number of Russian Muslims have led demands for uniform standards for halal products and certification in their country.

“The halal food industry is growing in double-digit numbers in Russia,” Madina Kalimullina, director of the Economic Department of Russia Muftis Council, told Khaleej Times on Monday, December 23.

“Annually, we certify more than 40 enterprises in different spheres of production.”

“The present stage of the halal industry development can be considered as mutual acquaintance and deeper knowledge of each other among certification bodies,” said Kalimullina, who is also a director of Moscow Halal Expo.Over the past three years, the Russian Muslims have been calling for issuing common standards for halal food production.

“The efforts of the Standards and Metrology Institute for the Islamic Countries (SMIIC) to work out common standards for halal production started in 2011 are likely to give results in the coming years.

“Based on commonly-recognized standards, system of audit, constant research and innovations, the halal industry, by the will of Allah, has the ability to become the world brand of healthy, ecological and safe products and services.

“In the coming years the issues of logistics, regulation, customs clearance and distribution would be put on the agenda more often as the concept of halal will require new routes in the international trade,” she said.

According to Kalimullina, the OIC has exclusively the right to unite views on uniform standards for halal certificates.

“The issue, however is complicated due to different mazhabs and business practice,” Kalimullina, who holds a PhD in economics, noted.

“At the same time, unanimous efforts of Muslims around the world are sure to result in a deeper integration and development of halal production, trade and investment.”

The concept of halal, -- meaning permissible in Arabic -- has traditionally been applied to food.

Muslims should only eat meat from livestock slaughtered by a sharp knife from their necks, and the name of Allah, the Arabic word for God, must be mentioned.

Now other goods and services can also be certified as halal, including cosmetics, clothing, pharmaceuticals and financial services.

Halal Expo

In a bid to attract new investors to the growing halal market, the Russia Muftis Council (RMC) launched the project of Moscow Halal Expo in 2010.

“Their [native Muslims’] number now exceeds 25 million,” Kalimullina, the director of Moscow Halal Expo said.

“Apart from that number we have 10 million Muslim work migrants from CIS countries that form the demand for halal products; although they are from a low income group, but the demand is massive.

The success of halal food industry was not limited to Russian Muslims.

“Another big group of consumers are non-Muslims, who choose halal for its quality,” Kalimullina said.

Thee halal food industry has been one of the RMC' priorities.

In 2002, it established the centre for Halal Standardization and Certification.

By 2011, the administrative structure of RMC has formed the Economic Department for the council.

“In general, there is a plan of umma economic development worked out by the RMC Economic department which includes the enlightenment in the sphere of Islamic business ethics and Islamic finance, halal certification system development, educational courses, translation into Russian language of the international Shari’ah standards in Islamic finance adopted by the AAOIFI, support is halal business and Islamic finance companies, Business Development Club, and, finally, Moscow Halal Expo,” Kalimullina explained.

“Now, we direct efforts at development of new business and investment projects in halal sphere. Presently the most important of which is the chain of halal distribution chain all over Russia.”

The Russian Federation is home to some 23 million Muslims in the north of the Caucasus and southern republics of Chechnya, Ingushetia and Dagestan.

Islam is Russia's second-largest religion representing roughly 15 percent of its 145 million predominantly Orthodox population.

Spain Regulates Halal Food

CAIRO – In a bid to normalize, regulate and control the Halal market in Spain, the Cordoba-based Halal Institute has cooperated with the Spanish standardization authority to develop new regulations related to the growing halal market.

“This is the first time that a Technical Committee on Standardization, addresses technical and religious aspects,” a press release obtained by OnIslam.net quoted Hanif Escudero, the director of Halal Standardization, as saying.

In a meeting held last week, the Halal Institute of the Islamic Board of Spain, based in Cordoba, together with the Spanish Association for Standardization and Certification (AENOR), to agree on the recently developed standardization activity related to halal food.

Escudero noted that the Technical Committee on Standardization AEN/CTN 308 'Halal' is the body created for this activity, whose Secretariat functions will be carried out by the Halal Institute, on behalf of the Islamic Board of Spain.The meeting was held with the support of the main Islamic federations, consumers, manufacturers and the Administration.

The Halal Institute is the Islamic and scientific organization dedicated to normalize, regulate and control the Halal market in Spain.

Escudero added that the Halal Institute of the Islamic Board was the driving force behind the development and signing of the Cooperation Agreements of 1992 (26/1992) and the registrant of the Guarantee Mark Halal (2466790 M 0. Halal).

It is, as has been pointed out, “a global concept that refers to the set of practices and behaviors that are acceptable according to the Shariah/Islamic Law,” he added.

In addition, as indicated by the responsible for the Halal Institute, the normalization process now begun also implies a historical event.

“In the sense that, after 20 years since the signing of the Cooperation Agreements (26/1992), it seems that the subject of Halal will be the first aspect in which there will be a normative progress,” the press release said.

“In other words, we now have an example to follow in aspects that the Cooperation Agreement itself restricts or even left undefined.”

Spain has a Muslim minority of 1.4 million, making up about 3 percent of the country’s population, according to the Islamic Commission of Spain.

Islam is the second religion in Spain after Christianity and has been recognized through the 1967 law of religious freedom.

Growing Market

The new agreement was passed as the halal market continues to hit new successes in the Spanish market.

“The Halal market, at international level, grows by 10/12%, while in Spain has a main consumer segment close to two million consumers, and a market revenue of 620 million euros generated by more than 240 industries, with 500 certified products and more than 600 retail stores,” the responsible of the Halal Institute said.

In the meantime, Aenor technical committees of normalization working bodies announced their willingness to the participation of all interested parties to develop the referred UNE Standards, which are voluntary and demanded by society.

In this sense, the first objective of this new Technical Committee on Halal Standardization “will consist in following-up to a European standard draft on Halal food requirements, the use of additives, animal slaughter and welfare, the traceability or labeling.”

In addition to the follow-up of this European project, the Halal Institute, as Hanif Escudero has pointed out, “has brought up the idea of organizing several working groups to assume other areas, as is the case of beverages, tourism, cosmetics or finances. Emerging sectors in which Spain must also be a reference.”

Another of the reasons for organizing various working groups is that the Committee of the Whole 'is a broad, representative and also diverse body.

The director of Halal Standardization has concluded that, “the working groups are a necessary tool in order to take advantage of the working meetings and all the efforts and dedication put in by the members of the Committee.”

The concept of halal, -- meaning permissible in Arabic -- has traditionally been applied to food.

Muslims should only eat meat from livestock slaughtered by a sharp knife from their necks, and the name of Allah, the Arabic word for God, must be mentioned.

Now other goods and services can also be certified as halal, including cosmetics, clothing, pharmaceuticals and financial services.

Halal food is consumed not only by 1.5 billion Muslims around the world, but also by at least 500 million non-Muslims in the $2 billion global industry.


Source:www.onislam.net

"A Big Question Mark on Islamic Finance Industry", Muhammad Zubair Mughal

Apparently, it is a matter of pleasure that global volume of Islamic Finance Industry has crossed $ 1.3 Trillion approximately, which is, definitely, providing the best and compatible sources of finance with interest free modes. According to a careful estimate, there are more than 2000 Islamic Financial Institutions are offering Islamic Banking, Islamic Insurance (Takaful), Islamic Funds, Mudaraba, Islamic Bonds (Sukuk), Islamic Microfinance and some other institutions actively providing Islamic financial services on different modes in adherence of Shari’ah principles of Islamic Finance. If we look into the market share of above mentioned institutions, we get shocked and depressed for a while with the fact that Islamic Banking and Finance has been nearly confined to the rich people and as per the ideology of capitalism, the profit urge has captured the Islamic Financial Industry and discriminated the underprivileged people and letting them deprived from Islamic financial services. Keeping in view these facts, it should be said as the commercialism has captured Islamic Finance institutions in such a way that business with and financing to the poor has gone astray from their agenda. According to the facts and figures (March-2013) by Consultative Group to Assist the Poor (CGAP), (an associated institution to the World Bank), the global volume of Islamic Microfinance has reached at USD 800 million with serving about 1.3 million beneficiaries. While as per the latest research (July-2013) conducted by AlHuda Centre of Excellence in Islamic Microfinance, the global volume of Islamic Microfinance has reached at $ 1 billion. Total number of Islamic Microfinance Institutions is more than 300, operating around the globe while the share of Islamic Microfinance is less than 1% from the overall volume of $ 1.3 trillion of Islamic Finance Industry, which, itself, is a big question mark on Islamic finance industry and proving its misfortune. These stated facts and figures give rise to different question such as: is social segmentation between poor and rich 1% : 99% ? Does Islamic Finance have financial resources only for the rich people? Not for the Poor? Is Islamic Finance an option only for the particular segment of society? Is it justice system of Islam? etc, whereas the answers to all these questions are in negative and awful, definitely. As per the analysis of Islamic Finance in the light of Islamic teachings, we get into, the Islamic ideology of finance which aims at justice, cooperation, welfare of the poor and financially deprived people of society with its best principles. Islam is a name of revolution starting from poor and will ending at same. If we have a look at comparative study of different religions regarding the view point of poverty, then we come to know that poverty alleviation is not only the social responsibility in Islam rather a religious obligation as well. Zakat, Charity, Sadqa, Fitr, Usher and Qarz-e-Hasan etc are amongst the key religious responsibilities of Muslims, whereas it is a social responsibility in other religions rather than a religious one which recognized as branded name of “Corporate Social Responsibility” (CSR), and they doing good work for poverty alleviation and social development in the whole world, but unfortunately, Islamic Financial Industry have ignored its social or religious responsibilities. If we look at the world poverty, we get surprising facts and figures. The 46% of whole world poverty exists in Muslim World while Muslim population in the world is 26%. United Nations have marked 26 out of 57 member countries of OIC, as the least developed countries. Current statistical information is highlighting that the poverty in the Muslim World is increasing day by day which is, as per the serious observation, caused by none or least response of poor people to Microfinance facilities because of interest, none or limited Islamic Micro Financing facilities provided by Islamic Financial Institutions and the least attention and interest of International Donor Agencies (UNDP, World Bank, IFC) towards Islamic Microfinance which, in return, is throwing the Muslim world into an era of poverty. As per the praiseworthy analysis of economics experts of modern age (Mr. Tariq Ullah and Mr. Ubaid Ullah 2008), 650 million Muslims in the world are living below poverty line with less than $ 2/ per day income. While on the other hand, only the 1.3 million Muslims out of 650 million were tried to get them out of poverty through Islamic Microfinance services whereas remaining 649 million Muslim, living in poverty, are still looking forward any financial assistance through Islamic way. Islamic Finance Industry is facing lot of criticism in different aspects e.g. acceptability of Islamic Finance, objections from Shari’ah Scholars, Conflicts in Shari’ah related issues etc are the main challenges to Islamic Finance Industry. But objection to neglect the poor is very critical, once not resolved, can damage and bring a perpetual loss to the Islamic Banking and Finance Industry. The optimal results for the economic prosperity of Islamic Finance can be ensured if Islamic Microfinance Institutions established by the Islamic Finance Industry. Although Islamic Microfinance can be energized by utilizing available charity amount of Islamic Banking and Finance industry which is worth in Million Dollars. Inter alia Zakat, Sadqaat, Waqf, other Islamic Microfinance products e.g Murabaha, Musharaka, Salam and Istisna etc can be used prolifically for poverty reduction and social development. Our Shari’ah scholars are also responsible for insisting and pursuing the Islamic Financial Institutions to execute and promote Islamic Microfinance otherwise there is a definite chance of rumors that Islamic Banking and Finance services are only for rich people making discrimination of “Do Have and Have Not” and ensuring its ultimate benefits only to rich people. ( Muhammad Zubair Mughal as a Chief Executive Officer of AlHuda Centre of Islamic Banking and Economics (CIBE) has been working consistently for last nine (9) years for poverty alleviation through Islamic Microfinance concept; he can be reached at zubair.mughal@alhudacibe.com )