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Events

ESMA Trains Indonesian Officials On UAE Halal Products

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Abu Dhabi — The Emirates Authority for Standardisation and Metrology, ESMA, organized the 1st training session for the employees of the national accreditation committee, “KAN” and National Standards and National Standardisation Agency of Indonesia “BSN”, in the Indonesian capital, Jakarta.

This training program is aimed at raising the technical capabilities of OIC countries, under the umbrella of the UAE technical assistance program, and reviewing the requirements for accrediting halal certification bodies.

The three-day training program presented by Youssef Al Marzouqi, Head of Regulations Section, reviewed the UAE halal system and standards related to halal products and services, which seeks to expand the economic, commercial and technical cooperation with Indonesia, reflected in improving trade exchange opportunities between the two countries.

Abdullah Al Maeeni, ESMA Director-General, confirmed that the authority adopted an Emirati program of technical assistance to countries in October 2019, which would contribute to supporting the country’s strategy, in contributing to development assistance.

The UAE technical assistance includes sending specialized experts within missions to provide technical training courses, develop specialized programs, and provide an opportunity for those wishing to visit Emirati entities and institutions to benefit from the practical experience of the UAE’s in applying the best practices in different fields of standardization.

Al Maeeni noted that Emirati-Indonesian relations are witnessing a remarkable economic advantage, especially with the doubling of the volume of trade exchange, which amounted to some AED13.7 billion (US$ 3.7 billion) during 2018, which represents an ideal growth opportunity in specific industries, such as the halal industry.

Workshop on Sukuk Model Law Project Held In Brunei

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The Islamic Research and Training Institute (IRTI) and the Islamic Development Bank (IDB) organized a regional consultation workshop on Sukuk Model Law project. The workshop was organized in partnership with the Monetary Authority of Brunei Darussalam (AMBD) and was held in Brunei capital.
It was aimed to identify the best practices from the South East Asian experience with Sukuk, as well as to understand the challenges for countries in the region aspiring to issue Sukuk. Participants included senior officials of financial authorities from the IDB member countries in the ASEAN region, namely Brunei, Indonesia, Malaysia, Bangladesh and Maldives, as well as from Hong Kong, South Korea, Singapore, Philippines, Sri Lanka and Cambodia.
Specialist law firms, banks, academics and consultants with expertise in Islamic finance also participated in the event.
Speaking during the event, IRTI Director General Prof. Mohamed Azmi Omar said: “Facilitating IDB member countries in mainstreaming and creating an enabling environment for Islamic finance is a key part of IDB’s mandate. The Sukuk Model Law project is expected to contribute significantly in harnessing the global best practices and expertise to create a global benchmark and toolkit for Sukuk issuance.”
The project aims to create a model Sukuk law and guidelines that allow IDB member countries and other jurisdictions a basis for a legal framework for Sukuk issuance and regulation.
This was the second of four regional consultations on the Sukuk law. The first regional consultation was held in Dakar, Senegal, in partnership with the Central Bank of West African States (BCEAO) in January. Two more regional consultations are planned for Europe/Central Asia and the MENA regions.

Originally published on www.arabnews.com

World’s largest Halal Event Showcases Philipine Products

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THE Philippines, through the Department of Trade and Industry’s Export Marketing Bureau (DTI-EMB) and the  Philippine Trade and Investment Center (PTIC)-Kuala Lumpur, is set to take part in the Malaysia International Halal Showcase (Mihas) 2017 from April 5 to 8 in Kuala Lumpur, Malaysia.

After years of absence at Mihas, the Philippines is back with 30 Philippine companies that will showcase halal-certified products at the Philippine Pavilion. Joining the business delegation are 27 food manufacturers and three from the nonfood sector.

Products to be showcased include food and beverage, processed meats and snacks and cosmetics and personal care. With its Philippine export industry development program, the Philippines’s participation at this trade show is the biggest to date.

“The Philippines takes this opportunity to introduce itself as a major supplier of halal-compliant products to the world.  We are here to take part in the global halal initiative and to bring about innovative products that will complement the global halal ecosystem.  The Philippines brings together the strong collaboration of halal stakeholders in the Philippines with the deliberate approach under the recently passed Philippine Halal Export Promotion and Development Law [Republic Act 10817],” said Senen M. Perlada, DTI-EMB director.

The PTIC–Kuala Lumpur also expressed confidence in the success of the Philippines’s participation, especially with the keen interest shown by businessmen in Malaysia to visit the Philippine Pavilion and meet the company representatives.

“We have gained recognition in the industry with businesses and business organizations, culinary schools, hotels, food manufacturers and wholesalers alike, expressing excitement to see what the Philippines can offer in terms of halal,” PTIC Kuala Lumpur Commercial Attaché Katrina Banzon said.

Mihas is considered the world’s largest halal event. It offers networking and business proposition for halal exhibitors and buyers. Mihas  records showed it welcomed over 22,000 trade visitors from more than 70 countries and generated record sales beyond RM1 billion for 600 exhibitors.

Mihas is hosted by Malaysian Ministry International Trade and Industry, organized by Malaysia External Trade Development Corp. in association with Halal Industry Development Corp. and the Department of Islamic Development Malaysia.

Originally published on www.businessmirror.com.ph

US Based Young Writers` Project Wins Grant to Promote Islamic Art and Culture

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For the first time, the Young Writers Project will receive a grant from the New York City-based Doris Duke Foundation for Islamic Art. YWP is one of 11 organizations nationwide receiving the grants, which are funded by DDFIA’s Building Bridges Program and designed to foster understanding of and reduce bias against Muslims across the U.S.
The grant — $90,000, over two years — is intended to support a youth-led project that will “engage Muslim and non-Muslim youth in Vermont with storytelling, performances and publication of work that expand their understanding of Muslim cultures and related social justice issues,” according to a statement from the foundation.

Alluding to the current “intolerance and incivility in our political climate and society,” YWP director Geoffrey Gevalt noted that the project is particularly well timed.

“It’s more important now than ever people understand differences and try to be more accepting and tolerant,” Gevalt said.

An organizing committee predominantly composed of youth will be formed to spearhead the project. They will receive training and support from a yet-to-be-hired project coordinator.

Muslim Girls Making Change have already been tapped for the committee, as well as to lead after-school workshops. The slam poetry quartet gained national and international attention after taking part in last year’s Brave New Voices International Youth Poetry Slam Festival, an annual conference and competition for youth.

There will be opportunities for students in rural Vermont to engage with Muslim students in an urban city, Gevalt explained. He also said that a Muslim artist would be invited to Vermont to present his or her work, as well as conduct formal in-school residency for a couple of days.

  • COURTESY OF YOUNG WRITERS PROJECT

“We are going to try to raise people’s awareness about the Muslim community in Vermont,” said Gevalt. “And to help [others] understand who they are, what they think.” He added that the grant will help to “magnify what Muslim Girls Making Change have already done in a very powerful way.”

“This is a great way for us to both promote youth voice, activism, and leadership as well as conversations between different groups, wrote “MGMC member Kiran Waqar in an email.  The South Burlington High School junior added, “I think change begins with conversation and if we can get our foot in the door, who knows the ripple effect we could have?”

YWP will strategize on how it can attract students from underrepresented groups to participate. These include those who are learning English, those who don’t necessarily feel they have a voice, as well as those who don’t like writing or don’t realize they are actually pretty good in writing, Gevalt noted.

“A lot of times, youth have things to say but choose not to say it,” wrote another MGMC member, Hawa Adam. “I think this project provides youth with the opportunity to express their thoughts, whether it’s through writing, performing, or just conversing,” the Burlington High School junior continued.

Although the slam poets — all high school juniors — will be a “key part” of the project, Gevalt hopes to find the next generation of leaders that the YWP can help train and support. The nonprofit also hopes schools will be able to continue some of the project’s activities.

“A goal in any kind of special project grant is to try to see how it outlasts its grant,” said Gevalt.

Originally published on www.sevendaysvt.com

Why We Need A Muslim Women’s Day?

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“It’s time to hear from a community that’s often talked about but rarely given the chance to speak.”

Faced with an increasingly hostile climate of Islamophobia, Muslim women have remained strong, fierce, and unapologetically themselves ― and it’s about damn time we had a day to honor their resilience.

MuslimGirl, a website made for and by Muslim women, is partnering with dozens of media organizations to designate March 27 as Muslim Women’s Day. Coming at the end of Women’s History Month, the campaign seeks to center the voices and experiences of Muslim women.

Media partners including MTV, Refinery29, Teen Vogue, and HuffPost Women are joining in to feature stories that elevate Muslim women’s narratives.

Amani Al-Khatahtbeh, MuslimGirl’s Editor-in-Chief, sees the day as a chance for allies to “pass the mic” to Muslim women.

“There are so many conversations unfolding around us right now about the women’s movement and the Muslim ban, and Muslim women are rarely given the space to be heard above the noise. This also comes at a time when Muslim women have become the most visible targets of anti-Muslim bigotry,” Al-Khatahtbeh told The Huffington Post. “I hope that #MuslimWomensDay is a launching pad for greater and more inclusive representation for Muslim women in the media.”

Muslim women who are active online are often targeted with Islamophobic rhetoric and hate speech. The threats and cyber abuse from trolls make it harder for women seeking to create safe spaces for themselves online.

A recent survey from The Institute for Social Policy and Understanding found that Muslim women were more likely than Muslim men to report discrimination in the last year (68 percent vs. 55 percent). They were also more likely than Muslim men to say that they feared for their safety from white supremacist groups (47 percent vs. 31 percent).

Nevertheless, Muslim women have remained incredibly resilient. They were no more likely than men to change their appearance to be less identifiably Muslim (with roughly 15 percent of both men and women saying they did so). And they report increasing their donations Muslim organizations.

“It’s time to hear from a community that’s often talked about but rarely given the chance to speak,” Al-Khatahtbeh wrote in a post about the campaign.

“Contrary to what people might think, Muslim women talk back. And on Muslim Women’s Day, the world will be listening.”

Originally published on www.huffingtonpost.com

Zilzar Bagged Best Halal Industry Technology Platform Award

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zilzar-award-in-gifaKuala Lumpur – Zilzar Tech Sdn Bhd (Zilzar), the first global Business to Business (B2B) Halal e-Commerce platform that connects Buyers and Sellers announced today that it has been named a Winner for Best Halal Industry Technology Platform Award during The Global Islamic Finance Awards (GIFA) 2016. The event was attended by H.E. Joko Widodo, President of the Republic of Indonesia, who also received the prestigious “Global Leadership in Islamic Finance Award 2016”.

The GIFA 2016, organised by London-based Edbiz Consulting, is the leading best practices award ceremony in Islamic banking and finance and celebrates the success of institutions and individuals, with an ultimate objective of promoting social responsibility, Syari’ah authenticity and commitment to Islamic banking and finance.

Zilzar, launched in October 2014, has excelled in its category, Our vision for the halal industry is to build and promote a platform based on integrity, trust and confidence that connects SMEs globally with halal products and services to buyers.” said Dato’ Dr. Vaseehar Hassan, Zilzar’s Co-founder and Chairman.

“This award is a testament to the skill, ingenuity, and vision of its founders and most definitely its team’s extreme commitment. It is a great honor to be chosen for this award knowing that our effort has been recognized significantly,” he added.

Zilzar was honored at the GIFA 2016 Awards ceremony held on 29th September 2016, in Jakarta Indonesia.

Having achieved this impressive milestone, Zilzar is set to explore into bigger challenges to address the demand of the growing numbers of Muslims who are now spending more than $100 billion a year shopping online. As a result, the company plans to expand and open its regional office in Jakarta by end of this year.

Halal Wagyu Beef Of Japan Attracts Swath Of Visitors at Gulfood

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halal-wagyu-beefDUBAI — You might say wagyu beef stole the show here last month.

The show would be Gulfood, the Middle East’s largest food trade show. Some 5,000 businesses from around the world exhibited at the fair.

At the Japan pavilion, 27 businesses and organizations displayed uniquely Japanese offerings such as matcha green tea powder and fermented foods. But visitors were mostly fascinated by a wagyu-tasting event. Wagyu is a type of Japanese beef with an intense marbling that pleases the eye and a high percentage of oleaginous unsaturated fat that is a pleasure for both the tongue and the teeth.

“It’s very tender,” a Saudi Arabian visitor said. “The flavor spreads in the mouth.”

Wagyu’s high quality is recognized around the world, but Japanese businesses are struggling to offer the beef in Islamic countries at affordable prices.

It is that whole halal thing. Under Shariah, or Islamic law, only certain foods are permissible to eat. If beef is to be halal, the cow it came from has to have been slaughtered in a certain way and the meat processed according to certain rules.

Following these regulations in the production process is expensive and increases the price of wagyu beef, which is not cheap to begin with.

According to the Japan Wagyu Beef Export Promotion Committee, which exhibited at the Gulfood fair, halal-safe wagyu beef can cost more than five times as much as the Aussie beef that is widely eaten in the UAE.

Middle Eastern consumers, the council determined, are going to have to be convinced that the high price is worth it.

So the council decided to use the fair and cook up a show of persuasion. Masami Ando, head of the Dubai branch of Japan External Trade Organization (Jetro), was in charge of blowing the horn for beef at the Gulfood fair. He said the exhibit also might have been effective in promoting a variety of beef cuts.

Originally published on www.asia.nikkei.com

Kuwait Investment Forum To Hold Seminar On Kuwaiti Economy

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kuwait-investment-forumKUWAIT: Kuwait Finance House (KFH) announced its participation in the Kuwait Investment Forum slated for March 8-9 as a diamond sponsor emanating from its endeavors to be present at important economic forums and conferences to utilize its vast experience in demonstrating investment opportunities while discussing means of improving the economy and enhancing the investment climate in Kuwait.

Chairman-KFH, Hamad Abdulmohsen Al-Marzouq is to moderate the Financing Investment session to be held second day of the forum at 13:00, Courtyard Marriott. This session will tackle the role of capital markets in enhancing a competitive environment, the role of financial solvency as a major support for investment, and the strength of banking sector and its impact on economic performance, in addition to its role in financing investment.

The forum hosts dignitaries from public and private sectors, local and international high-level speakers, and media personalities. It highlights strategy and objectives of economic development, investing in development projects towards streamlining a favorable business environment while discussing the prospects of oil industry and economic development. Moreover, the forum will represent a platform to shed light on SMEs as varied opportunities and integrating schemes, investment opportunities in infrastructure projects and the lucrative investment opportunities in the cultural and tourism sectors. It will also showcase Kuwait’s pioneering role in humanitarian and development arena.

The Kuwait Investment Forum organized by Kuwait Direct Investment Promotion Authority in collaboration with Business and Economic Group is to kick off under the patronage of HH the Amir Sheikh Sabah Al-Ahmad Al-Sabah. The forum comes against the backdrop of the positive development in the Kuwait economy which has become of great interest to local and international investors. Kuwait endeavors to attract value-added investments while providing the suitable environment and issuing motivating regulations in efforts to serve in energizing the market and boosting the national economy.

KFH was established in Kuwait in 1977 and is enlisted in the Kuwait Stock Exchange. KFH Group is a global pioneer in the field of Islamic banking services, where it offers a wide array of Islamic products and services, not to mention a high standard of innovation and client service.

KFH manages its operations in the GCC, Asia, and Europe through over 446 branches, including KFH-Turkey, in order to offer services for the bank’s clients in Turkey, Malaysia, Saudi Arabia, Bahrain, Germany, Jordan, and Dubai.

KFH’s mission is to achieve highest levels of excellence and innovation in the field of client service, while developing common interest for all those concerned with the financial institution. KFH’s vision is to spearhead the global development in Islamic financial services, and to upgrade the bank into the level of becoming the most sustainable profitable Islamic bank in the world.

Originally published on www.kuwaittimes.net

Islamic Finance Seminar To Be Held In Muscat, Oman

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bank-nizwa

Bank Nizwa has partnered with Islamic Finance News (IFN), a leading online journal specialized in reporting on the global Islamic financial markets, to bring its renowned industry seminar to the Sultanate for the first time. Set to kick-off on March 8th 2016 at the Grand Hyatt Muscat, the event is titled “IFN Oman Seminar & Dialogue 2016”. Key decision makers, as well as industry leaders and experts from the Sultanate and the region are expected to discuss the opportunities available in the fast-growing Omani Islamic market for both capital-raising and investment.

The seminar will start with addresses from instrumental figures in Oman’s Islamic banking and finance industry including HE Mohammed Jawad bin Hassan, Advisor to the Ministry of Finance and HE Hamood Al Zadjali, Executive President of the Central Bank of Oman. Other panelists include HE Abdullah Al Salmi, Executive President of Capital Market Authority. In addition, industry veteran CEO of Bank Nizwa, Dr. Jamil El Jaroudi will be representing Bank Nizwa, alongside Dr. Ashraf Al Nabhani, General Manager Corporate Support at the Bank, who will be participating in his capacity as Chairman of Muscat Securities Market.

In addition to the panel discussion, the event will feature the IFN Oman Dialogue, a closed-door roundtable session comprising of Oman’s most senior Islamic finance practitioners, regulators and stakeholders. For over two-hours, the discussion will explore and evaluate the challenges and opportunities facing the Shari’a-compliant financing and investment market in Oman today and how to best prepare for the future.

Originally published on www.albawaba.com

CIBAFI’s 1st Annual Global Forum to highlight the “Rethinking Values for Sustainable Growth”

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cibafi-first-forumManama: – The General Council for Islamic Banks and Financial Institutions (CIBAFI), the global umbrella of Islamic financial institutions is pleased to announce the launch of its   1st Annual Global Forum: “Rethinking Values for Sustainable Growth”, which is organized by CIBAFI under the Patronage of the Central Bank of Bahrain on the 3 – 4 May 2016, at the Four Seasons Hotel, Manama, Kingdom of Bahrain.

The Forum aims to bring together various stakeholders from the Islamic finance industry, multilateral development institutions, international and national regulatory bodies, policy-makers, and academia to discuss the key emerging issues within the industry.

Participants will have the opportunity to present their views on the most recent challenges and opportunities that shape the future of the global Islamic finance industry towards the global trends of social responsibility and sustainability, including organic growth drivers, risk outlook, technical capacities and infrastructures.

The Global Forum will discuss among others, key agenda topics addressing macroeconomic outlook, regulatory development, strategic risk and sustainability. The participants will gain insights on the Global Trends in Social Responsibility, and will explore the key areas of business innovation to achieve “Good Growth” unlocking potential of Islamic finance. Discussions will also cover the values of values: whither Islamic finance? And Internalizing consumers’ core values in Islamic Finance.

This international seminar, falls under CIBAFI’s Strategic Objective 3 – Awareness & Information Sharing, which aims to increase the awareness of Islamic Financial institutions and promote information sharing among its members and the industry stakeholders.