The Halal Times
Global Halal, Islamic Finance News At Your Fingertips
Malaysia has emerged as the top nation that best supports the multi-trillion dollar global Islamic economy, revealed DinarStandard in its State of the Global Islamic Economy (SGIE) Report 2022. The report offers a comprehensive look into the best-performing countries to address the growing Islamic economy opportunity. The report said Malaysia continued to remain in the …
The Malaysia virtual International Halal Showcase (Mihas) 2021, the world’s leading Halal platform, has generated a record-breaking RM2.13 billion ($510 million) in export sales. This included RM1.38 billion sales recorded by exhibitors and RM749.1 million from Malaysian companies who participated in the International Sourcing Program (INSP). Mihas was successfully conducted in a fully virtual format …
Shariah-compliant P2P (Peer-to-Peer) financing platform microLEAP has announced its collaboration with Bank Pembangunan Malaysia Berhad (BPMB) to finance Malaysia Digital Economy Corporation’s (MDEC’s) Digital Agtech Programme. The programme has been allocated with RM10 million in Shariah-compliant microfinancing for Malaysia’s agriculture community. The collaboration was struck at MDEC’s AI and Data Week (AIDW) 2021 event, where …
Plans are in the pipeline to forge partnerships between small and medium-sized enterprises (SMEs) from Qatar and Malaysia to bolster further growth of Malaysian halal brands in the Qatari market, said Mohd Mustafa Abdul Aziz, CEO of the Malaysia External Trade Development Corporation (Matrade). Similarly, Abdul Aziz said plans are afoot for knowledge exchange and …
The halal industry is expected to contribute 8.1 percent to Malaysia’s Gross Domestic Product (GDP) and generate RM56 billion export revenue in 2025 compared to RM30.6 billion in 2020, according to the 12th Malaysia Plan (12MP) document released by the Economic Planning Unit (EPU) Monday. The halal industry, therefore, would be strengthened to produce competitive …
KUALA LUMPUR: Halal Development Corp (HDC) expects 6,000 participants for its 12th World Halal Conference (WHC) this year, as interested parties will be able to attend the conference both physically and virtually. HDC chief executive officer Hairol Ariffein Sahari said the conference would be held for the first time in a hybrid manner. WHC has …
KUALA LUMPUR: Malaysian government has urged small and medium enterprises (SMEs) in the halal sector to go digital to get more business from overseas markets. Prof Dr. Suhaimi Ab Rahman, deputy dean of Universiti Putra Malaysia’s (UPM) Economics and Management Faculty (Research, Industrial Network, and Society), said the SMEs need to be proficient in the …
Is Malaysia ready to handle the economic fallout from COVID-19? The country has been facing this seemingly unsurmountable challenge along with other world economies due to the coronavirus pandemic. Can it also save the Islamic economy ecosystem it has developed over the past three decades? The following is an analysis recently published on the www.thestar.com.my. …
In Malaysia, where annual economic growth has averaged just under 5 percent over the past five years, fintech is a part of everyday life. It is rapidly becoming a central part of the country’s financial sector, with considerable promise for expansion, according to new IMF analysis. With its growing middle class, high mobile phone penetration rates, and strong government …
PETALING JAYA: The Halal Development Corporation Bhd (HDC) plans to promote up to 700 Malaysian professionals in the international market to meet the strong demand for talents with experience in the halal sector. CEO Hairol Ariffein Sahari said the talents will be needed for the companies’ halal operations as well as the exchange of technologies …
KUALA LUMPUR (June 20): Bursa Malaysia Bhd has added Inter-Pacific Securities Sdn Bhd to the bourse operator and regulator’s Islamic participating organisations list to further grow the Islamic capital market. Bursa Malaysia said in a statement today that Islamic stockbroking services played an important role, under which clients’ funds were placed in Shariah-compliant accounts. “With …
CONVENTIONAL banks aside, there is a push by industry players for mergers and acquisitions (M&A) to take place in the crowded Islamic banking as well as the non-bank lender space. There are 16 Islamic banks in Malaysia. Two are full-fledged standalone banks: Bank Islam (M) Bhd and Bank Muamalat Malaysia Bhd. Eight more are subsidiaries …
Islamic banks have continued to expand their balance sheets and capital buffers, but the era of double-digit growth rates could be coming to an end while asset quality concerns creep up, an industry oversight body said recently. Islamic finance, which has its core markets in the Middle East and Southeast Asia, follows religious principles that …
A Malaysian technology and energy incubator has agreed to collaborate with companies in Hong Kong and China to produce and market halal-certified foods internationally. In a stock market filing, Asia Bioenergy Technologies said its Asiabio Capital subsidiary had signed a memorandum of understanding with YRZC International, Shan Xi Hong Hui Food (SXHHF), and Shan Dong …
KUALA LUMPUR, June 9.An investment holding company of Felda Global Ventures Holdings has shelved plans to sell an Islamic bond in Malaysia, IFRreported on Friday, after investigators raided the parent FGV‘s headquarters following allegations of corruption. FGV Seri Costa had filed 1.5 billion ringgit ($352 million) sukuk wakalah programme with Malaysia’s securities regulator and sole …
Malaysia-based budget airline AirAsia has unveiled the latest in crew fashion with a new specially designed hijab for the carrier’s female pilots. The hijab, which will be worn by female Muslim pilots on board AirAsia and AirAsia X flights, was designed in collaboration with hijab brand Naelofar Hijab. The airline said the hijab was “specifically tailored to …
Tawau: Six tonnes of chicken meat from the United States were confiscated from two supermarkets here, Wednesday, for not having the Halal logo – the largest such bust here in an integrated operation led by the Sabah Islamic Religious Affairs Department. Its administration officer here, Abdul Imam Basin, said the Department of Veterinary and Animal …
Taiwanese travel e-commerce platform, KKDay, has announced it is expanding its footprint to Malaysia. With the launch of platform, CEO Ming Chen wants to dominate the $5 million travel and tourism industry of the nation. The company, strategically, planned the move into the country seeing a “growing population, wanderlust for travel among Malaysians, and a thriving …
KUALA LUMPUR: Conglomerate Sime Darby Bhd has received bondholders’ approval to restructure its US$800 million sukuk, a milestone in the group’s proposed debt reorganisation, which forms part of its plan to create three independent listed companies. US$400 million of the sukuk mature in 2018 and an equal amount in 2023. Sukuk holders approved the company’s …
As Ramadan approaches and Hari Raya is closing in, starlet cum entrepreneur Noor Neelofa Mohd Noor, fondly known as Neelofa, who was just listed on Forbes’ 30 Under 30 Asia 2017 list, is back with her line of hijab collection for Naelofar Hijab Raya 2017. In a launch that took place in Mutiara Ballroom Royale …
As many Muslim women choose to dress modestly, more brands are joining this juicy market When designer Vivy Yusof embraced Islamic fashion four years ago, she probably never thought her decision would help her own business take off. The 28-year-old Yusof, until giving birth to her first child, had not worn the hijab, a scarf that …
Southeast Asia is enjoying rapid economic development, while many Muslims have become prosperous in the region. But the Quran forbids charging interest rates on loans. Nevertheless, Malaysia’s top banks are offering an alternative approach, known as Islamic finance. “But, Allah has permitted trade and has forbidden interest,” the Quran adds. “Whoever returns to dealing in interest or usury — …
Malaysia’s longest-running food and beverage industry event marks its 18th year MIB 2017, which will be held from 9-11 August at Putra World Trade Centre (PWTC), is Malaysia’s leading and premium food and beverage trade fair held in Kuala Lumpur annually. Malaysia’s longest-running food and beverage industry event marks its 18th year and this year, …
Customers use ATMs at a combined Malayan Banking Bhd (Maybank) and Maybank Islamic Bhd bank branch in Kuala Lumpur. The market shares of Islamic banks increased in 18 jurisdictions, indicating a growing acceptance of Islamic finance in markets with both Islamic and conventional financial systems, according to the IFSI Stability Report 2017. A new report …
