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May-June . 2024 | @ Halal
Cover Story
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Official launch of SIBS 2024 .
products in transit or storage by preventing contamination or mishandling that could jeopardise their authenticity .
There is also a proposal to integrate Blockchain technology into the halal traceability process . By doing so , halal products can be tracked throughout the supply chain , ensuring their quality from production to consumption .
Blockchain ’ s transparency and consistency can strengthen confidence concerning halal compliance because the information recorded cannot be altered or tampered with .
In addition to the CRA , SELHAC 2024 seeks to advance the Central Information Platform ( CIP ) within the halal ecosystem . The CIP is a centralised database of pre-approved halal ingredients .
“ So rather than them having to source and then re-qualify the ingredients themselves , all the information sits in a central depository that will be most useful for SMEs ,” explained Fahmi .
Following this , Fahmi stressed that halal digital innovation should encompass more than just developing halal products . It should also involve implementing digital solutions to market these products .
Similarly , the application of digital innovation in Islamic finance is also essential . This likely involves leveraging fintech solutions to make halal financial transactions and investments following Islamic principles .
The halal ecosystem ’ s certifications , logistics , and digital innovation processes are all interrelated .
A streamlined certification process facilitates quicker market access , efficient logistics safeguard halal authenticity , and digital innovations enable easy compliance management and verification .
GOALS FOR SELHAC 2024
SELHAC 2024 aims to integrate halal businesses with digitalisation and technologybased solutions to foster growth and enhance competitiveness in the global market .
“ This current government has taken a unique approach to this , including placing religious affairs and innovation culture under a single portfolio so that issues that surround the halal sector can be discussed in a modern context ,” said Fahmi .
This strategic alignment ensures that technological advancements and digital solutions
are developed and implemented in ways that respect and uphold the values of the halal sector .
The industry must keep pace with global trends and set new benchmarks for how traditional sectors can innovate responsibly .
After achieving RM55.7 million in potential business transactions last year , the goal for the upcoming SELHAC 2024 is to increase this amount by 10 per cent , aiming for approximately RM60-RM61 million .
Fahmi noted : “ Potential business matching does not mean you get an actual transaction .”
Therefore , a secondary target has been set to improve transaction outcomes : achieving a 60 per cent success rate in converting these potential matches into actual transactions . This means aiming for six out of every
Beneficial Seminars :
• SELHAC Business Forums .
• The 11th International Conference On Management And Muamalah 2024 ( 11th ICoMM 2024 ), co-organised by the University Islam Selangor ( UIS ).
• The Selangor Executive Halal Conference , coorganised by the Selangor Islamic Religious Department ( JAIS ).
“ We ’ re looking at embedding halal traceability solutions into logistics and warehousing to ensure halal assurance .”
– Fahmi
ten participating companies to complete transactions successfully .
One way to achieve this goal is to engage with the previous participants from the food and beverage ( F & B ) industry .
THE FUTURE OF THE HALAL ECOSYSTEM
The discussion around what constitutes halal relies on the credibility of certifications , mainly the JAKIM Malaysia halal logo .
This logo signifies compliance with stringent criteria encompassing ingredients , premises , and governance , ensuring products meet the expectations of the Muslim community .
Confusion arises from the proliferation of alternative labels such as ‘ pork-free ’ or ‘ lard-free ,’ which , while indicating certain dietary restrictions , do not guarantee full halal compliance per JAKIM standards .
This distinction underscores the significance of maintaining formal halal certifications as the gold standard to protect consumer trust and market integrity .
“ The JAKIM halal carries a global name . It ’ s a global standard accepted by many countries ,” stated Fahmi .
In other words , products bearing this certification are poised for seamless exportation , offering local SMEs a pathway to regional and global markets .
This thereby promotes the overall reputation and success of halal products worldwide .
Looking forward , Selangor is spearheading innovations within the halal ecosystem , particularly in logistics and warehousing .
Collaborations between public , private , and academic sectors are enhancing traceability and assurance through technologies like Blockchain .
While technology presents solutions for ensuring halal integrity throughout supply chains , the challenge lies in practical implementation and regulatory oversight .
To address these challenges and foster a sense of unity and collaboration within the industry , Fahmi encourages all stakeholders to actively participate in SELHAC 2024 .
SELHAC returns for its third edition at the Kuala Lumpur Convention Centre from Oct 16-19 , 2024 , in conjunction with the Selangor International Business Summit 2024 ( SIBS 2024 ).
The proximity with SIBS 2024 enhances SELHAC ’ s contribution to promoting regional investment , networking , and industry insights across Southeast Asia .
The event will feature physical gatherings , virtual conferences , seminars , and business matching sessions .
Over 80 exhibitors will showcase exhibits across various sectors within the halal industry , including logistics supply chain , digital innovation , F & B , pharmaceuticals and health , cosmetics and personal care , tourism and hospitality , and more . –