Forum Endorsement underlines its objective to invest in and strengthen the halal industry in Saudi Arabia
04
Foreign News
@ Halal | MAY-JUNE . 2023
CDIAL Halal contributes to Brazil ’ s continued leadership in halal exports
HPDC to sponsor IsDB ’ s
Private Sector
HALAL Products Development Company ( HPDC ), a company launched by Saudi Arabia ’ s Public Investment Fund ( PIF ), is the primary sponsor in this year ’ s edition of the Islamic Development Bank Group ( IsDB Group ) Private Sector Forum held in Jeddah .
Established to promote Saudi Arabia as a global hub for halal products , HPDC seeks to enable small and medium-sized enterprises to grow and expand across global halal markets . In addition , the company aims to foster international partnerships whilst localising innovation , technology and knowledge to benefit the halal production framework within the Kingdom .
Through its provision of investment , equity capital and halal advisory services through its Halal Products Advisory ( HPA ) division , the company aims to support the development of halal products to facilitate economic long-term growth and diversification .
Fahad Al-Nuhait , Chief Executive Officer of HPDC , affirmed the company ’ s sponsorship : “ We are very excited to participate in the 2023 IsDB Group Private Sector Forum alongside some of the most proactive people and organisations working parallel to the halal industry . Since our launch , we ’ ve had the incredible opportunity to engage with leading organisations to identify ways to create jobs , foster collaboration and grow the Kingdom ’ s local halal production framework .”
“ Our sponsorship of the 2023 IsDB Group Private Sector Forum embodies the company ’ s commitment to investing in building a vibrant
Forum Endorsement underlines its objective to invest in and strengthen the halal industry in Saudi Arabia
ecosystem for halal products within Saudi Arabia , regionally and worldwide ,” added Al-Nuhait .
Since being founded in October 2022 , HPDC has aimed to enhance the Kingdom ’ s landscape of halal products focusing on primary subsectors such as food , pharmaceuticals and cosmetics . HPDC operates in parallel with PIF ’ s strategy to localise production , diversify the national economy and enable critical sectors , including consumer goods , retail , and agriculture , in line with the Kingdom ’ s Vision 2030 .
Held under the theme of “ Partnerships to Fend off Crises ,” the 2023 IsDB Group Private Sector Forum serves as a medium to connect business communities and a platform to discuss important development issues regarding Islamic finance . IsDB Group ’ s Private Sector Forum reflects the institution ’ s goals to invest in Islamic financial institutions and finance projects in both the public and private sectors .
“ Our involvement in the 2023 IsDB Group Private Sector Forum has given us a fantastic opportunity to showcase our services , engage with industry leaders and promote the economic opportunities available within the halal industry .
“ With our mission aligned with the objectives of PIF ’ s Vision Realisation 2021-2025 strategy , we recognise our opportunity to make a positive , measurable impact within Saudi Arabia ’ s halal products and services ecosystem .”
“ Moving forward , our objective at HPDC remains to unlock the remarkable potential within Saudi Arabia ’ s halal landscape by enabling investors to grow and further diversify ,” added Al-Nuhait .
WITH almost four decades of experience , certifier CDIAL Halal has contributed to Brazil ’ s continued position as the world ’ s leading exporter of halal proteins , the world ’ s largest halal chicken certifier , as well as a pioneer and leader in the certification of fish in Brazil .
According to the Arab-Brazilian Chamber of Commerce ( CCAB ), in agribusiness alone , Brazilian exports to the Arab League totalled US $ 17.743 billion in 2022 , a 23.06 per cent increase in 2021 and a record .
Although many believe halal certification is only used to validate proteins , the halal market is much larger ; the certification goes beyond that of general foods , covering categories such as chemicals , pharmaceuticals , cosmetics and various types of services .
The expertise of the Brazilian industries , along with respect for the Islamic faith and the Muslim population , from labour to the end consumer , all endorsed by the halal certification , contributed to the country ’ s leadership in providing value-added products for the halal market .
In addition , good sales continue to strengthen Brazil ’ s position .
“ We ’ ve earned the confidence of various nations through the quality , traceability , and competitive prices of our products and the sustainability of our businesses . Our work , for almost 40 years , together with the Muslim community , has enabled us to present the excellence of Brazil ’ s halal to the world .
“ Currently , our country is the third largest commercial partner with the Arabic countries , behind China and the United States . We are a leader in what we set out to produce , and we can serve , as a priority , the current scenario on the halal market and its future growth ,” said the CEO of CDIAL Halal , Ali Ahmad Saifi .
Nagad Islamic scoops ‘ best innovation in other financial institutions ’ award |
NAGAD ISLAMIC , Bangladesh ’ s first and only Shariah-compliant mobile financial service , won the award for “ Best Innovation in other financial institutions ” at the fifth Bangladesh Innovation Award Gala 2023 , in recognition of its innovative approach and extraordinary success in introducing an option for practising Muslims to manage their funds in an interest-free manner while maintaining religious values and principles .
Presented by a leading steeling manufacturer GPH Ispat , in
|
collaboration with Bangladesh ’ s ICT Division ’ s Aspire to Innovate ( a2i ) and in association with The Daily Star , a Dhaka-based English language daily , the widely-acclaimed award ceremony was held recently at a five-star hotel in Dhaka .
Zunaid Ahmed Palak , MP , State minister , ICT Division , graced the occasion as chief guest .
Tanvir A Mishuk , founder and managing director of Nagad , said : “ We are delighted to have introduced the Shariah-compliant financial solution
|
for Muslims who abide by religious norms . This first-of-its-kind initiative in Bangladesh has earned us an accolade , which will drive us to go for more innovations and ease people ’ s daily life all the more .”
The grand award gala , which was preceded by the 4th edition of the Bangladesh Business Innovation Summit , honoured 49 innovations with 26 winners and 23 honourable mentions . The award programme was attended by more than 500 professionals and industry experts .
|