CIMB and partners target 10% China halal trade financing

CIMB Islamic Bank Bhd chief executive officer Rafe Haneef said the target would be driven by the CIMB Asean-China Halal Corridor initiative, an enhanced trade network linking halal businesses across China and the region emphasising on the agribusiness, cosmetics, food and beverages, modest fashion and pharmaceuticals sectors.

KUALA LUMPUR: CIMB Group Holdings Bhd and its collaborators aim to capture 5% to 10% in trade financing from the China halal market, which is forecast to be worth US$2 trillion by 2021.

CIMB Islamic Bank Bhd chief executive officer Rafe Haneef said the target would be driven by the CIMB Asean-China Halal Corridor initiative, an enhanced trade network linking halal businesses across China and the region emphasising on the agribusiness, cosmetics, food and beverages, modest fashion and pharmaceuticals sectors.