www.hircpakistan.org halal industry research centre revolutionizing the industry in a shariah...
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HALAL INDUSTRY RESEARCH CENTRERevolutionizing the Industry in a Shariah Compliant way !
ISLAMIC FINANCEISLAMIC FINANCE&&
HALAL FOOD INDUSTRYHALAL FOOD INDUSTRY
ISLAMIC FINANCEISLAMIC FINANCE&&
HALAL FOOD INDUSTRYHALAL FOOD INDUSTRY
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WHAT IS HALAL INDUSTRY ?
• HALAL IS EVERYTHING WHICH HAS BEEN ALLOWED BY ALLAH AND HIS PROPHET (PBUH)
• CLUSTER OF COMPANIES & ORGANIZATIONS PRODUCING/SUPPLYING/GOVERNING PRODUCTS AND SERVICES WHICH ARE COMPLIANT TO ISLAMIC SHARIAH LAWS
• CURRENTLY THE GLOBAL HALAL INDUSTRY IS VALUED AT OVER THREE (3) TRILLION DOLLARS
• HALAL INDUSTRY IS NOT RESTRICTED TO MEAT/CHICKEN BUT COVERS EVERY ASPECT OF INDUSTRIAL TRADE AND SERVICES
• HALAL PRODUCTS AND SERVICES ARE NOT JUST FOR MUSLIMS BUT CAN BE CONSUMED/USED BY EVERYONE
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WHY HALAL PRODUCTS/SERVICES ?
• THE CORE RELIGIOUS TEACHINGS OF EARN HALAL, EAT HALAL, LIVE HALAL
• AS MUSLIMS WE ARE ALLOWED ONLY TO TRADE IN HALAL PRODUCTS/SERVICES
• MUSLIMS IN NON-MUSLIM COUNTRIES REQUIRE AUTHENTIC HALAL PRODUCTS/SERVICES
• HALAL PRODUCTS AND SERVICES ARE A QUALITY MARK
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HALAL INDUSTRY
• GLOBAL ISLAMIC FINANCE INDUSTRY IS CURRENTLY VALUED OVER $1 TRILLION
• GLOBAL HALAL FOOD INDUSTRY IS CURRENTLY VALUED OVER $500 BILLION
• MAJOR ISLAMIC HUBS: MALAYSIA, UK, EUROPE, MIDDLE EAST
• MAJOR HALAL FOOD SUPPLIERS: MALAYSIA & FAR EAST, SOUTH AMERICA, OCEANIA
• MAJOR HALAL FOOD BUYERS: MIDDLE EAST, FAR EAST, AFRICA, EUROPE, AMERICAS
WHERE IS PAKISTAN ?
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DEVELOPMENT IN ISLAMIC FINANCE
• CENTRAL REGULATOR – STATE BANK OF PAKISTAN– ACTIVE PARTICIPATION– DEVELOPED CENTRAL BODY AND IMPLEMENTED HARMONIZED STANDARDS– LEADERSHIP AND OWNERSHIP
• SHARIAH EXPERTISE – EXTENSIVE CAPACITY BUILDING ON ALL LEVELS– BANKING TO SHARIAH SCHOLARS– SHARIAH TO BANKING EXPERTS– DAR-UL-IFTAS TO STATE BANK – COVERED ALL THE STAKEHOLDERS
• SERVICE PROVIDERS – SPECIALIZED PROVIDERS SUPPORTED THE INDUSTRY– PRODUCT DEVELOPMENT AND CONSULTANTS– TRAINING PROVIDERS– RESEARCH AND PUBLICATIONS
TOTAL COMMITMENT – A KEY TO SUCCESS FOR ISLAMIC FINANCE
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WHAT SHOULD WE LEARN FROMISLAMIC FINANCE INDUSTRY ?• A CENTRAL REGULATORY BODY IS REQUIRED
– ACTIVE PARTICIPATION AND OWNERSHIP– TO IMPLEMENT LAW AND MONITOR– TO SUPPORT THE INDUSTRY PARTICIPANTS
• SHARIAH EXPERTISE – EXTENSIVE CAPACITY BUILDING ON ALL LEVELS– MODERN FOOD PRACTISES AND CONFLICTS WITH SHARIAH– SHARIAH PRINCIPLES TO INDUSTRY PARTICIPANTS – AWARENESS IN CONSUMERS
• SERVICE PROVIDERS – SPECIALIZED PROVIDERS TO SUPPORT THE INDUSTRY– INDUSTRIAL CONSULTANTS INCLUDING CERTIFICATION BODIES– TRAINING PROVIDERS– RESEARCH AND PUBLICATIONS
TOTAL COMMITMENT – A KEY TO SUCCESS FOR HALAL FOOD INDUSTRY
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HOW CAN ISLAMIC FINANCE & HALAL FOOD SUPPORT EACH OTHER ?• EXPORT GROWTH
– SAME PRODUCTS, NEW MARKETS, NEW STRATEGIES– ISLAMIC EXPORT FINANCE SCHEMES TO FOSTER GROWTH
• OPPORTUNITY TO FINANCE– NEW FINANCING PROJECTS– NEW SUKUK ISSUES CREATING LIQUIDITY – MICROFINANCE AND SME FINANCING OPPORTUNITIES
• NEW INVESTMENTS IN SECTOR– RESEARCH PROJECTS– INDUSTRIAL PARKS AND ESTATES– NEW PRODUCT DEVELOPMENT
GOLDEN OPPORTUNITY TO RENEW THE BUSINESS CYCLE
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FUTURE IS HALAL INDUSTRY ISLAMIC FINANCE AND HALAL FOODS ARE TWO DIFFERENT ASPECTS OF
THE SAME PHENOMENON