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Local News
@ Halal | May-June . 2021
Alliance Islamic Bank targets RM100mil financing
Unique value proposition that will help businesses be successful in halal market
ALLIANCE Islamic Bank Berhad signed a Memorandum of Understanding ( MoU ) in April with eJazmine , Fusionex and the International Institute for Halal Research ( INHART ) to further strengthen its Halal in One programme for businesses .
The expanded strategic partnership will make available more digitisation options and training programmes and an additional e-commerce platform .
“ Today , the global halal market is valued at US $ 3.1 trillion and is one of the fastest-growing markets in the world . Halal products and services are now much sought after by Muslims and non-Muslims alike , showcasing the rich opportunities that the halal industry has to offer ,” said Chief Executive Officer of Alliance Islamic Bank , Rizal IL-Ehzan Fadil Azim .
“ Towards this end , it is imperative that our local businesses continuously embrace innovation and digital transformation efforts to tap into this lucrative market .
“ We are here to help SMEs tap into the trilliondollar halal market by providing a digital platform that is convenient , affordable and easy to scale up . On this note , we aim to provide RM100 million in financing to halal SMEs or SMEs which have started their journey towards halal certification .
“ We are pleased that our new partners - eJazmine ,
Fusionex and INHART - share our vision to help SMEs grow in the robust halal market . Our aspiration is to be the Centre of Excellence for the halal industry and contribute towards Malaysia becoming a global halal hub .”
Each of the new strategic partners of the Halal in One programme offers a unique value proposition that will help businesses be successful in the halal market . eJazmine , an e-commerce platform , provides preferential rates to local businesses looking to gain market access in countries like the United States of America , Saudi Arabia , Indonesia and China .
Another partner , Fusionex , has made available its full complement of integrated digital solutions to help business owners create an online presence , list their business on its e-commerce platform and use analytics and intelligence to boost business growth .
INHART by the International Islamic University Malaysia offers specialised training programmes to educate business owners on shariah compliance and provide international halal audit services to businesses looking to enter foreign markets .
The inclusion of eJazmine , Fusionex and INHART enriches the Halal in One programme and supports its aspiration to be a single-source platform for coaching and training , business matching , certification support , halal funding , advisory , services and all things relating to halal .
Bank Rakyat introduces ‘ QR2E ’ for MSMEs cooperatives
BANK RAKYAT has launched a digital banking service platform called ‘ QR2E ’ or ‘ Quick Response to Entrepreneur ’ to cultivate entrepreneurship in the community .
The service is targeted at micro , small and medium entrepreneurs ( MSMEs ) and cooperatives to enable them to conveniently obtain financial and business management advice .
“ Customers can apply for financing as well as make appointments at locations chosen by themselves ,” the bank said in a statement today .
Minister of Entrepreneur Development and Cooperatives Datuk Seri Dr Wan Junaidi Tuanku Jaafar said the initiative was in line with the National Entrepreneurship Policy 2030 and Bank Rakyat Strategic Plan 2025 .
“ QR2E suits the needs of the current situation and new norms , where everything is at the customers ’ fingertips without their having to be physically present ,” he said .