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FOREIGN NEWS
@ Halal | May-June. 2025
Oman launches halal e-commerce
IN a landmark partnership, Oman Data Park( ODP) and Rihal have joined forces to launch a pioneering digital platform,“ Daily Millionaire”, aiming to redefine Sharia-compliant e-commerce within the global sharing economy. The first phase of the project involves a joint investment of US $ 13 million, underlining the strategic ambition behind this collaboration.
Daily Millionaire introduces an innovative model that blends e-commerce with ethical investment. The platform enables users to purchase fractional shares in luxury assets, including villas, gold, and premium cars, while participating in transparent digital raffles
conducted through blockchain technology.
Developed with strict adherence to Islamic finance principles, the platform also includes a digital wallet and a loyalty rewards system, promoting responsible digital engagement and financial inclusion.
“ We are proud to support highimpact digital solutions aligned with Oman’ s Vision 2040. Our secure, sovereign cloud infrastructure will ensure the platform’ s flexibility and scalability on a global scale,” said Khalid Al Abri, Chief Financial Officer( CFO) of Oman Data Park.
Rihal’ s Chief Executive Officer( CEO) and Co-founder, Azzan
DIGITAL INNOVATION: Oman Data Park and Rihal launch Daily Millionaire, a global Sharia-compliant e-commerce platform.
Al Kindi echoed this sentiment, highlighting the platform’ s mission to merge ethical values with technology.
“ Daily Millionaire promotes digital justice and sustainable community engagement, reflecting the aspirations of a younger, valuesdriven generation,” he stated.
Utilising AI and advanced analytics, the platform seeks to create a fairer digital marketplace while also fostering local job creation and attracting international investment. With its Omani-Dutch collaboration and global outlook, Daily Millionaire positions itself as a new benchmark in ethical digital entrepreneurship.
This initiative represents a bold step forward in merging faithbased principles with cutting-edge innovation, setting a precedent for Sharia-compliant digital platforms that serve both economic growth and social good.
First Saudi sukuk ETF in Asia
PREMIA Partners, a leading Exchange Traded Fund( ETF) provider from Hong Kong, has made history by launching Asia’ s first Saudi Arabia Government Sukuk ETF. The launch is in collaboration with Bank of China Hong Kong Asset Management Limited( BOCHKAM), and the fund is now listed on the Hong Kong Stock Exchange.
Known as the Premia BOCHK Saudi Arabia Government Sukuk ETF, this fund gives investors easy access to Shariah-compliant sukuk issued by the Saudi government and its agencies. The fund has a competitive total expense ratio of just 0.35 per cent per year and tracks the iBoxx Tadawul Government & Agencies Sukuk Index. It is listed under the tickers US $ 443 for trading in Hong Kong dollars and US $ 1,207 for trading in US dollars.
The ETF offers stable income and diversification benefits, with low correlation to other bond types or asset classes. It also reflects
Saudi Arabia’ s strong economic fundamentals, such as low government debt and steady growth under the Vision 2030 plan.
Rebecca Chua, Managing Partner at Premia Partners, stated that the ETF was designed to meet the growing interest in Shariahcompliant and emerging market fixed income investments. Li Tong, Deputy Chief Executive Officer( CEO) of BOCHK and Chairman of BOCHKAM, added that the fund combines Islamic finance principles with the transparency and convenience of ETFs.
HSBC is supporting the fund with trustee and custody services in both Hong Kong and Saudi Arabia. The initiative also received backing from the Saudi Exchange and S & P Dow Jones Indices.
This launch marks a significant step forward in connecting Asia and the Middle East through halal finance, highlighting Hong Kong’ s growing role as a global Islamic investment hub.
Halal food innovation
AL Barakah Dates Factory, located in Dubai Industrial City, is a leading example of halal food innovation and sustainability. It is recognised as the world’ s largest privately owned dates factory and exports its products to more than 90 countries. Its global clients include major food brands such as Nestlé, Kraft Heinz, and Mondelez.
The factory is a key contributor to the United Arab Emirates’( UAE) halal manufacturing sector. It produces a diverse range of halal-certified date-based products, including date paste, syrup, sugar, jam, and fibre.
These products meet top international standards through certifications such as Emirates Authority for Standardisation and Metrology Halal Certification( ESMA Halal), Brand Reputation through Compliance Global Standard( BRCGS), United States
MANUFACTURING: Skilled experts and advanced robotics at Al Barakah Dates in the UAE ensure fast, precise processing with consistent, topquality output.
Department of Agriculture( USDA) and European Union( EU) Organic, and Kosher London Beth Din( KLBD) Kosher. This strengthens the UAE’ s position as a global hub for high-quality halal products.
Managing Director Yousuf Saleem highlighted the company’ s commitment to innovation, sustainability, and quality. The factory processes over 100,000 tonnes of dates annually, including more than 50,000 tonnes sourced locally. It also operates as the world’ s first solar-powered dates facility, reducing approximately 3,000 tonnes of Carbon Dioxide emissions each year.
In addition to its success, the company supports numerous community initiatives such as Ramadan food drives and the“ One Billion Meals Endowment.” Al Barakah’ s achievements reflect Dubai’ s vision to lead in halal manufacturing and sustainable food exports.-