Putrajaya, – Alliance Islamic Bank Berhad (“Alliance Islamic Bank”), a subsidiary of Alliance Bank Malaysia Berhad, launched its Halal-in-One Program, a halal enterprise ecosystem to help small-and-medium enterprises (SMEs) in Malaysia to capitalize on opportunities in the halal segment.
The program offers SMEs to venture into the halal space by offering end-to-end solutions such as business advisory, business matching services, and shariah-compliant financing.
In conjunction with the launch of the program, Alliance Islamic Bank signed a Memorandum of Understanding (“MoU”) with its strategic partner, HQC Commerce Sdn Bhd. The signing ceremony was witnessed by Dato’ Dr. Sirajuddin bin Suhaimee, Director, Malaysia Halal Council Secretariat JAKIM. He also officiated the launch of the program.
“Malaysia is one of the leading players in the global halal industry due to its robust Halal ecosystem, and a continuous focus in developing global Islamic finance products. SMEs in Malaysia have the advantage to tap into the global Halal segment, which is expected to grow to US$3.0 trillion in 2023. Yet, as of 2018, 90% of Malaysian SMEs were not Halal-certified,” said Alliance Islamic Bank’s Chief Executive Officer Mr. Rizal IL-Ehzan Fadil Azim.
“Our Halal in One Program offers business advisory services by halal consultants to help SMEs obtain Halal certification from the Department of Islamic Development Malaysia (JAKIM). The SMEs can also attend complimentary Halal awareness training programs we offer. We will complement the advisory service with Halal banking solutions including special financing, payroll solutions, enterprise Takaful, and business matching opportunities for Halal-centric businesses.”
With the launch of the Halal-in-One initiative, the bank plans to build an ecosystem comprising strategic partners with various Halal-centric expertise to help business owners expand their business in the wider Islamic economy around the globe.
HQC Commerce Sdn Bhd’s Chief Executive Officer, Dato’ Hj. Khairul Shahril bin Hj. Hamzah, said, “The global appetite for Halal products is growing rapidly. Malaysia’s Halal certification system, governed by JAKIM, is well recognized worldwide. This puts businesses in Malaysia at an advantage. Through this partnership with Alliance Islamic Bank, we hope to reach out to more business owners to grow their businesses by tapping into the global Halal market.”
“Our Halal in One Program is an inclusive ecosystem that integrates all the elements a business needs to grow their halal businesses globally. These include business advisory and matching, halal certification, and funding. We believe that our efforts will go a long way in supporting the government’s efforts to establish Malaysia as a leading provider of Halal support services, and center of excellence in Islamic finance,” said Mr. Rizal IL-Ehzan.