Halal Products & Certifications Making Inroads In Europe

Nov 18 (Bernama) -- Halal branding is fast gaining recognition and making inroads into the European market with more Halal-labelled products being displayed and sold on shelves in Europe's supermarkets and hypermarkets.

The situation has changed drastically over the last two years with increased advertising and promotion activities on Halal products in the mainstream media which includes television and outdoor advertising.

This observation was made by participants and speakers during the first day session of World Halal Forum (WHF) Europe 2009, which commenced yesterday at The Hague, Netherlands.continue Reading

Dubai to Raise $1.93 Billion in Biggest Sukuk Sale

Bloomberg : Dubai will raise about $1.93 billion through the biggest Islamic bond sale from the Gulf region this year, according to two bankers familiar with the transaction.

The Persian Gulf emirate is seeking to borrow about $1.25 billion from its dollar-denominated, five-year fixed-rate Islamic bond, or sukuk, and 2.5 billion dirhams ($680 million) from a local currency floating-rate Islamic note, said bankers who didn’t want to be identified because the deal is not yet complete. Dubai, which today closed its book for the bond sale, attracted about $6.55 billion in orders, they said.

“This is a solid successful deal that sets the tone for anything Dubai Inc. wants to do in the future,” Norval Loftus, the head of convertible bonds and sukuk at Matrix Corporate Capital Ltd. in London, which oversees $2.5 billion in investments.[Read more]

Global sukuk issuance may exceed $20bn

Reuters: Global issuance of Islamic bonds, or sukuk, may surpass $20bn, recovering from a lull this year, helped by government spending and energy financing needs, a poll shows.

According to the poll of 12 Islamic finance bankers and experts, six respondents said the new issuance would exceed $20bn, while four said it would be $15bn-$17bn and only one put the figure of less than $15bn.

Sukuk issuance received a double blow last year from the global liquidity freeze and a debate on the compliance of some of its structures with Islamic law, with issuance slumping more than 50 percent to $14.9bn, according to Standard & Poor’s.

Issuance during the first seven months of this year came in at $9.3bn compared with $11.1bn for the same period in 2008, the ratings agency has said.[Read More]

Fred Wilson Interview: SOTB 2009

Technorati.com:Fred Wilson, managing partner of two venture capital firms and well known "VC blogger" at AVC.com, discusses the relationship between entrepreneurship and blogging, and what's next for blog-based businesses and the web.
You’re one of the best know “VC bloggers.” What originally motivated you to get involved in blogging, and how has it influenced your life and career?

I got into blogging because it was a new internet technology back in the early part of this decade and I wanted to understand it better. As I got into it, I realized it could help our business a lot by building a direct channel to entrepreneurs. It has allowed us to build a reputation as one of the best web-focused early stage venture firms.

What’s your take on and advice to VC-backed entrepreneurs who publish blogs?
It's not easy for an entrepreneur to find the time to blog. But for those who do it, it is a great tool to communicate with the various stakeholders in their business and build a reputation for thought leadership.

Blog-based businesses and blog networks have seen a lot of activity over the last few years in terms of investment and acquisitions. Given the economic downturn, what does the future look like for blogs-as-businesses?

I think it’s better than ever. Blog-based businesses have lower cost structures and are more "authentic" and as a result are drawing larger shares of ad budgets.

You’re a passionate early adopter and experimenter with web applications in general and widgets on your blog in particular. What’s turning you on these days?
Mobile apps and new commerce models.

What’s your advice for aspiring professional bloggers?
Show up every day with something interesting to say and don't be afraid to speak your mind.

The State Of The Blogosphere 2009

Technorati:"In a year when revolutions and elections were organized by blogs, bloggers are blogging more than ever, and the State of the Blogosphere is strong."Technorati State Of The Blogosphere for 2009 is out. Since 2004, Technorati's annual study has followed the growth and trends in the blogosphere. 2,900 bloggers were surveyed directly by market research firm Penn Schoen and Berland.

Here is a summary of the report:


Day 1: Who are the Bloggers?

■ Bloggers are a highly educated and affluent group. Nearly half are graduates, majority earns $75000 p.a.
■ Two-thirds are male
■ 60% are aged 18-44
■ More than half are married
■ Half are employed full time
■ Half of bloggers who responded are working on at least their second blog
■ Media Habits of Bloggers



Category of Bloggers:

Hobbyists: 72% - They blog for fun. They don’t make any money from their blogging. Half of them blog to express their “personal musings”.

Part-Timers: 15% - They “blog to supplement their income, but don’t consider it a full time job.” They blog to share their expertise, while some blog to attract new clients for their business. They measure the success of their blog by the unique pageviews they attract.

Self-Employeds: 9% - They "blog full time for their own company or organization." 88% self employeds use Twitter.

Pros: 4% - They “blog full-time for a company or organization".

Twitter and other social media represent one of the most important trends affecting the Blogosphere this year. With more areas of involvement, and more ways to tell the story, the blogosphere is strong - and only getting stronger.

Coming Up:

Day 2 — The What and Why of Blogging

Day 3 — The How of Blogging

Day 4 — Monetization And Revenue Generation: Brands in the Blogosphere

Day 5 — 2009 Trends: Political Impact of Blogging, Twitter Usage

Source: Technorati

New standard to be issued for halal meat exports

Radionz.co.nz: The Food Safety Authority is close to issuing a new national export standard covering halal meat processed for Muslim markets.

Most New Zealand meat plants process sheepmeat and beef to meet Islamic halal requirements.

But the trade has been disrupted in two of the biggest markets.

Halal beef exports to Malaysia have been restricted for several years and Indonesia introduced new conditions this month after shipments there were blocked for a short time earlier this year... Read More

Unique IT Services in Islamic Finance and Key Players

DinarStandard:In the last 25 year, Islamic banking practice has progressed tremendously. The past two and a half decades, serious research done, has established that Islamic banking is a viable and efficient way of financial intermediation. Several Islamic banks have been established during this period under mixed, social and economic settings. Recently, many conventional banks, including some major multinational Western banks, have also started using Islamic banking techniques. All this is encouraging.

Banks moving into Islamic banking require compliance with Sharia’a principles. This compliance has significant effect on bank products, processes and technology systems...Click here for the Whole Article:

Islamic Banking Solution Providers - Georgraphic Location

CIMB Islamic Bank Launches Easy Life Takaful Life Plan

KUALA LUMPUR, Oct 12 (Bernama):CIMB Islamic Bank on Monday launched the EasyLife Takaful Life Plan, a health plan managed by CIMB Aviva Takaful Bhd.The plan provides health and hospital benefits including for surgery, daily a hospital income, a lump sum payment for critical illness,outpatient treatment for kidney dialysis, anti-cancer treatment and death benefits.

The plan, the first under the EasyLife Takaful Solutions range, offers customers fixed cash benefits, regardless of the actual cost incurred.

This is in addition to benefits received under any existing hospitalisation and surgical plan.It also provides customers the option to renew their coverage up to the age of 70 to cover post retirement medical needs...Read More

ADB establishing new $500m Islamic infrastructure fund with

Sukuk.Net:Johanna Klein from ADB discusses the bank's establishment of a new Islamic infrastructure fund in cooperation with the Islamic Development Bank watch Video:

Malaysia To Help Qatar In Islamic Finance Resources

DOHA, Oct 12 (Bernama):Malaysia will offer two scholarships to eligible Qataris to pursue the Chartered Islamic Finance Professional programme at the International Centre for Education in Islamic Finance in Kuala Lumpur next year.

The Raja Muda of Perak, Raja Dr Nazrin Shah, in announcing this today, said two research grants would also be awarded to Qatari researchers by the International Syariah Research Academy for Islamic Finance.

"The availability of a significant pool of human resource with sufficient knowledge of Islamic finance is crucial to the continued growth of innovation in the industry and we can make great strides if we join forces," he said.

He was speaking at the Malaysia-Qatar Business Forum, held here in conjunction with the Malaysia International Islamic Finance Centre (MIFC) roadshow to Qatar and Bahrain.

Raja Nazrin, who is also the financial ambassador to the MIFC initiatives, led the roadshow delegation comprising regulators and industry players...Read More

Brittany gateway for M’sia to halal market in Europe

TheStar.com: Malaysia is targeting in western France as the gateway to penetrate the US$40bil halal food market in Europe.

Halal Industry Development Corp Sdn Bhd (HDC) chief executive officer Datuk Seri Jamil Bidin said the company hoped to provide a platform for Malaysian companies to break into the European halal market.

He added that the potential for the halal market was enormous, as France had the biggest Muslim population in Europe.

“Although the number may be small compared with Islamic countries, their purchasing power is very much higher,” he told Malaysian journalists after a memorandum of understanding (MOU) signing ceremony between HDC and Benefiq Pte Ltd in Paris on Wednesday...Read More

Germany Waking up to Growing Market for Muslim Food

SPIEGEL:Germany has four million Muslim inhabitants but the market for halal food -- produced according to Islamic law -- is still in its infancy, partly because firms fear the wrath of animal rights groups. But companies are slowly waking up to this fast-growing market.

Gehlenberg is a sleepy village in northern Germany. It has a population of 1,600 and boasts a church, community hall, war memorial and a pub, along with a few wooden crosses by the roadside and a tiny chapel. It's a staunchly Catholic village, but on three days of the week, the Prophet Muhammad makes the rules -- in a white factory building on the outskirts of the village, that is. That is where the Meemken family business produces a broad range of sausage that follows Islamic food standards. The company supplies almost 100 tons of salami and various other types of sausage each week to food retailers in Germany and abroad...Read more

Islamic Finance Emerging as Blue Ocean

koreatimes:While major economies were rattled by the global financial crisis following the U.S. subprime mortgage trouble, some were relatively safe. Islamic finance is one of them. It survived the crisis thanks to stable management of assets based on Islamic law, and the world is paying attention to it as an alternative to Western-style finance.

Islamic Finance Growing Rapidly

Though still alien to most Koreans, Islamic countries form a major pillar of the world. They make up 17.8 percent of the global economy and the Muslim population represents 24 percent of the world's total. The number of Muslims is expected to reach 3 billion in 20 years.

Islamic finance, or financial transactions and products that suit Islamic law, has been growing by between 15 and 20 percent each year.

The total assets of Islamic finance stood at over $700 billion as of 2007, and are expected to breach the $1-trillion mark within two years, upon oil price hikes and the growing interest of oil-producing countries in financial investment as they ponder how to manage huge amounts of oil money.

``The continuous oil price hike between the 1990s and 2000s enabled the Middle East to accumulate 'oil money.' Oil producers with political stability like Saudi Arabia, the United Arab Emirates, Kuwait and Iran had the fund grow steeply,'' the Korea Trade-Investment Promotion Agency (KOTRA) said in a report.

The issuance of Sukuk, or Islamic bonds, grew to $42 billion as of 2007, increasing by over 40 times from 2002. The issuance of Sukuk, mainly used to fund infrastructure projects in the Middle East, is estimated to reach $150 billion by 2012. Continue Reading

More Islamic products from HSBC in pipeline

THE STARONLINE: HSBC Bank Malaysia Bhd plans to roll out more Islamic banking offerings based on the good response to its recently launched Islamic credit cards and mortgage product.

Executive director and deputy chief executive officer Jonathan Addis said the number of Islamic credit cards had grown to about 50,000.

“Our new Islamic mortgage has also received good response since it was launched a couple of weeks ago,” he said after a briefing on the bank’s regional outlook yesterday.

The group’s Islamic banking subsidiary HSBC Amanah that was set up last February posted a pre-tax profit and zakat of RM32.4mil for the first half-year ended June 30.cONTINUE READING

Halal first for French television

meatinfo.co.uk:National advertisements for halal ready-meals were broadcast in France this week, in what is thought to be a first for mainstream European television.
The French ad campaign for Zakia Halal, reported to be worth £260,000, is further evidence of the increase of a halal presence in the European food industry.

The ads feature a young Muslim couple out shopping at a supermarket to promote a range of halal microwaveable meals including paella, lasagna and shepherd’s pie.

Rather than traditionally being transmitted on Arabic satellite channels, the ads for Zakia Halal, part of the couscous firm Ferico, are being shown on national stations such as the French equivalent to ITV, TF1, as well as rival M6 and a number of digital terrestrial channels. Both TF1 and M6 are the first and second most watched private television services in France.

France has the largest Muslim population in Europe which is estimated to be five million where currently many are practising Ramadan.

The French halal market is valued at close to €4b for 2009, and is estimated to grow at annual rate of 15% according to ethnic marketing agency Solis. Around 93% of French North Africans and 55% of sub-Saharan Africans are believed to buy halal products....continue Reading

HDC To Launch World's First Halal Directory Widget

KUALA LUMPUR, Aug 27 (Bernama) -- The Halal Industry Development Corporation (HDC) will launch the world's first Halal Directory Widget on Aug 31 and expects it to draw about 50,000 users a month.

The widget on HDC's website, www.hdcglobal.com, provides information on local and international halal companies and products certified by the Islamic Development Department Malaysia (Jakim).

"Currently, the HDC website has 200,000 portal hits and we expect 25 per cent of them to access our widget directory," said HDC vice president (corporate services) Miti Nurbaya Zainudin.

She said the directory, designed as a promotion and online marketing tool, could also be installed on users' web portals or blogs using the HDC widget code...Read More

Recession sparks interest in Islamic finance

LONDON, England (CNN) -- With irresponsible banking practices taking the blame for bringing about the global economic crisis, there has been a surge of interest in Islamic finance. Now, a slew of academic courses are springing up to meet the demand of those wanting to break into an expanding market.

According to ratings agency Moody's, the global Islamic finance sector is worth $700 billion and has the potential to be worth $4 trillion.

What's more, the ethical principles underpinning Islamic finance are seen by some as offering a more sustainable alternative to profit-oriented conventional banking. The result is that academic institutions are lining up to offer formal training in the area.

"There is a huge demand for Islamic finance courses now, so large that it's difficult to cope with," Professor Habib Ahmed, Sharjah chair in the school of government and international affairs at Durham University, England, told CNN.....Read More

Moody’s Report on Islamic Banking

Asharq Al-Awsat- Moody’s Investors Services recently issued a report on Islamic banking in which the credit-rating agency identified several points of weakness that it believes in future will threaten these Islamic financial institutions and their credit rating.

The truth is that the report brought nothing new to the table with regards to highlighting the points of weakness that Islamic banks suffer from as highlighted by many specialists in this industry. Many of these points have previously been made in this column, as they are no secret to any of the observers who follow the Islamic banking industry...

Muslim business owners to be offered Halal insurance

Sunday Herald:UK MUSLIMS who own their own businesses will be able to take out business insurance compatible with their faith from next year.

Salaam Halal Insurance, the UK's first standalone Islamic insurance company plans to launch a range of commercial lines products in the first quarter of 2010.

Bradley Brandon-Cross, CEO of Salaam, told the Sunday Herald: "Islamic finance is relatively new in this country. Form the customers' point of view they have had very limited choice for a very long time, if not no choice at all in terms of products."....

Al Islami UAE market study indicates compelling need for fresh meat

BI-ME :Since the launch of fresh meat business in the UAE last year, the compelling demand for real Halal and fresh meat prompted Al Islami to accelerate the setting up of dedicated meat shops across the UAE and the other countries of the GCC region.
With the announcement of 15 shops established during first quarter and second quarter of 2009, Al Islami has started selling fresh meat in Dubai, Sharjah and Al Ain. 12 more shops are being planned for the next two quarters making total of 27 shops at the end of this year.

Since the unveiling of meat shop business plan, Al Islami has met a number of enquiries and signed agreements with the Sharjah Cooperative Society, Al Ain Cooperative Society and Union Cooperative Society, several enquiries are in pipeline from renowned local and international supermarkets for new shops. Al Islami has hired over 50 professional butchers so far for its meat shops...Continue Reading

France: Increase of “Halal markets” during Ramadan

Ennahar - Ramadan, which begins the end of the week, has become in recent years an important event in France for the sale of Halal products in retail, which considers this market as promising, but still sensitive.

The Halal food, which means "allowed" or "lawful", has been little statistical account in France, according to the generally accepted figure, five million Muslims.

But according to a recent study by the agency Solis specializes in "ethnic marketing", the market is valued at nearly four billion Euros in 2009 and its annual growth is estimated at 15%, a boon in these times of crisis...Continue Reading

Only Muis can certify

Straits Times = THE Islamic Religious Council of Singapore (Muis) has taken issue with a claim by supermarket chain Fairprice that its new halal auditing programme will give greater consumer assurance.

Speaking at the sidelines of a halal seminar on Friday, Muis president Mohd Alami Musa stressed that the council is the sole authority that can certify establishments and products as halal, or suitable for Muslim consumption.

His statement comes after Singapore's biggest supermarket chain, FairPrice, announced it is helping its Muslim customers with a halal auditing programme - done by another Muslim body...Continue Reading

Insurers can end sukuk compliance woes, experts say

Reuters:Islamic insurers can help rid the Islamic bonds market of crippling concerns over the compliance of structures with Islamic law, or sharia, industry experts and executives said.

Global issuance of sukuk fell 56 percent year-on-year to $14.9 billion in 2008, according to Standard & Poor's, as the market was caught up in the global liquidity freeze but also due to a debate on whether the majority of Islamic bonds, or sukuk, were sharia-compliant.

Prominent scholar Sheikh Muhammad Tariq Usmani said in late 2007 that most Islamic bonds were not compliant with sharia as their guarantee to pay out bondholders at maturity contradicts the principle of sharing risk and returns.

Peter Hodgins, a lawyer specialising in Islamic insurance at law firm Clyde & Co said Islamic insurance, or takaful, products could help reconcile the need for sukuk to comply with these requirements and investors' need to insure against risks.

"Takaful can be a solution to help out the sukuk market."

Takaful firms could provide insurance for sukuk investors that takes over notional annual payments to bondholders if they fall below an agreed amount, he said, adding that there were discussions in the industry on such a product...Read More

Not all halal products may meet standards: Expert

The Peninsula: Not all halal-certified food products sold in supermarkets in Qatar and other Gulf countries comply with halal standards, according to a Thai professor at a well-known university in Bangkok.

Dr Winai Dahlan, Associate Professor and Director of the Halal Science Center (HSC) of Chulalongkorn University, said many studies had shown that food products exported to the Gulf Cooperation Council (GCC) countries with halal certification may not have been processed scientifically according to the required standards ...Read More

Six Local Firms Export RM460 Million Halal Products Via Tesco UK

Bernama -- Six Malaysian companies have to date managed to export about RM460 million worth of halal products through Tesco UK.

This is under the five-year Tesco RM1 billion Malaysian Export Programme, which began two years ago with the aim of promoting Malaysian products to the UK market.

The programme is a collaboration involving Tesco, the Small And Medium Industries Development Corporation (Smidec), Malaysia External Trade Development Corporation (Matrade) and Halal Industry Development Corporation (HDC).

"We hope to help more Malaysian companies to export halal products in years to come," said Tesco Stores (Malaysia) Sdn Bhd's commercial director Jamie Walker at a press conference held in conjunction with the SME Supplier Conference here on Tuesday ... Read More

Tangerine Confectionery awarded Halal Food Authority accreditation

Talking Retail:Tangerine Confectionery, one of Europe's leading sugar confectioners, has received a quality Halal Seal of Approval for products within its Barratt, MOJO, Princess and Taveners Proper Sweets ranges.

Long established UK favourites - including Barratt Sherbet Fountains and Dip Dabs, Black Jacks and Fruit Salads, MOJO chews, Princess Marshmallows and Taveners Proper Sweets - have been awarded compliance certification by the Halal Food Authority.

Ensuring foods are wholesome, pure and unadulterated, the HFA Seal of Approval comprises of a number of stringent checks by independent food technologists and auditors.... Read More

Kuwaiti Islamic Bank Returns to Investments in US

KUWAIT CITY (AP) -- Kuwait's largest Islamic bank said Sunday it has signed a $450 million deal with a U.S. real estate investment trust to buy high income residential real estate in major American major cities.

The deal between Kuwait Finance House and Denver, Colorado-based apartment building owner UDR Inc. is the second major foreign investment by a rich Gulf nation in the past few days.

''The joint venture will seek to acquire high income residential real estate in major cities in the United States,'' according to a statement posted on KFH's Web site. Under the deal signed in London on Friday, KFH's participation is 70 percent while UDR will shoulder a 30 percent share, the statement said...Read More

HALAL SEMINAR 2009 ; 'GREATER HALAL ASSURANCE, WIDER MARKET REACH'

Muis.gov.Sp:The Islamic Religious Council of Singapore (Muis) will be organising the Halal Seminar 2009 (HS2009), entitled 'Greater Halal Assurance, Wider Market Reach', in August 2009.

The seminar hopes to apprise participants on the following:

1) Recent developments in Muis Halal certification
2) Trends in the global Halal industry
3) Value proposition of Halal certification
4) Industry best practices on the newly implemented Singapore Muis Halal Quality Management System (HalMQ)... Read More

Bangor makes wise investment as interest grows in Islamic finance

WalesOnline :WITH the worldwide banking system at its lowest ebb for 80 years, it would hardly seem the best time to be looking for a career in global finance.

But one area of banking has weathered the economic storms better than most – and one Welsh university has grasped it and entered the world of Islamic finance.

Last September Bangor University launched its Islamic finance MA and MSc and is already considering introducing an MBA in the subject, reflecting the fact that it has become one of the fastest-growing sectors of the global banking industry, expanding by between 15% and 20% a year.

Assets held by institutions adhering to Islamic finance principles now amount to nearly $1 trillion.

New courses and postgraduate qualifications in Islamic finance are now springing up throughout the UK and elsewhere in Europe.

As Philip Molyneux, head of Bangor University’s business school, said, there was an increasing demand from international students, particularly from Islamic countries, to study it as an alternative to traditional banking and finance courses...Read More

Germany: Cool Logistics conference to discuss fast-emerging opportunities in global halal logistics Cool Logistics 09

FreshPlaza:The halal market is fast emerging as one of the most lucrative and influential consumer arenas in the world today. Covering a wide array of food and non-food products, including pharmaceuticals, cosmetics, healthcare, toiletries and other non-consumables, the global halal products market is today valued at USD2.77 trillion. As one of the latest trends in extending halal upstream and downstream the value chain, halal logistics offers enormous opportunities both for producers and for the transport, storage and distribution industries, says Marco Tieman, Managing
Director of LBB International and Chair of the International Halal Integrity (IHI) Alliance Technical Committee on Halal Logistics...Read More