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Thursday June 24, 2010

Malaysia set to become world’s premier halal hub

KUALA LUMPUR: Malaysia is ready to become the world’s premier halal hub offering a complete range of products and services.

Prime Minister Datuk Seri Najib Tun Razak said the hub would be managed under a system based on halalan-toyyiban (“halal” and the best) requirements.

He said although there were already features in place to enable Malaysia to operate as the hub, more were still being developed and expected to be ready soon.

“These include the setting up a global reference centre in halal knowledge and halal-related services such as fatwa know-how, information on halal certification, capacity building, business opportunities and incentives.

“The Halal Industry Develop-ment Corporation has taken the initiative to develop a global halal support centre for both investors and consumers,” he said when launching the Seventh Malaysia International Halal Showcase 2010 here yesterday.

The five-day exhibition at the Matrade exhibition and convention centre saw more than 600 companies, including from more than 30 countries, taking part.

Najib said the corporation had also introduced an innovative halal application for the iPhone to help consumers locate halal food premises or restaurants using the Global Positioning System technology and Google Maps.

He added that the halal business fraternity in Malaysia was already supported by a sophisticated Islamic financing and banking system.

“There are 38 Islamic financial institutions operating here, covering both domestic and overseas operations.

“Of these, 18 are Islamic banks, five investment banks, seven Islamic fund and wealth management companies and eight takaful operators,” he said.

Najib said Malaysian investors could also take advantage of its free trade agreements with various countries to access the Muslim market.

He also announced the launch of two more halal standards in cosmetics and logistics.

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