MALAYSIA’S premium and exclusive halal and Syariah-compliant e-marketplace were recently launched at the newly opened global headquarters of Aladdin Group of Companies in Kuala Lumpur.
Aladdinstreet.com.my, a wholly-owned Malaysian venture, provides authentic, premium halal and Syariah-compliant products and services that include pharmaceuticals, fashion, cosmetics and beauty, food as well as banking and finance.
The e-commerce marketplace will become the only hub for premium halal and Syariah-compliant products and services for some 1,500 merchants and traders in the next three years and will serve the domestic Malaysian market.
The international e-platform Aladdinstreet.com, which will cater to the global marketplace, will be launched in the second quarter.
Present to launch the e-marketplace was former prime minister Tun Abdullah Ahmad Badawi.
“Aladdinstreet.com.my’s entry into the e-marketplace is timely as it provides businesses, manufacturers, and producers direct unified access to the premium halal and Syariah-compliant e-marketplace, which was not available previously.
“Malaysia has a population of more than 30 million, with about 60% being Muslims. As an Organisation of Islamic Cooperation (OIC) member state, Malaysia has a mature Muslim consumer market and a robust demand for halal products. It is the fastest-growing consumer segment in the world and it is the right time for a Malaysian company to make its debut in this market,” said Abdullah.
Aladdin Group of Companies co-founder and Malaysian astronaut Datuk Dr. Sheikh Muszaphar Shukor said, “We are very excited as this is yet another defining moment for Malaysia as we have achieved a first – not just locally, but globally – in the vibrant e-commerce marketplace.
“We aim to become the number one e-commerce platform in the country and the portal of choice for Malaysian consumers.
“We are confident as we have collaborated with the local authorities and halal governing bodies to ensure that only authentic and premium halal-certified products and services are traded on Aladdinstreet.com.my.
“In the next three years, we hope to sign on 1,500 merchants to potentially provide 30,000 products on our online platform,” he added.
Another key strength of the site is that domestic merchants can upgrade to the international platform to access the global halal market through Aladdin’s offices in more than 30 countries beyond the click of the mouse.
They will be able to utilize local ground support on matters relating to halal logistics, customs, and market intelligence as well as business networking opportunities.
Merchants’ participation in Aladdinstreet.com.my is by invitation only. All customers undergo strict due diligence by Aladdin-street’s Business Integrity Task Force, which is an international panel of experts on halal and Syariah matters, to ensure strict compliance.
Dr. Sheikh also said that the introduction of Aladdinstreet.com.my would facilitate the movement of brick-and-mortar-based Malaysian halal-certified businesses, enabling their expansion to a robust online community of consumers.
Originally published on www.thestar.com.my