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The Islamic dollar is big business – but how can Halal firms make sure that their financing is as ethical as their output? IFN Halal Finance is a comprehensive resource providing Halal firms with the information they need on the Islamic financial markets and the choices therein.
IFN Halal Finance provides a direct channel of communication to corporates worldwide. From January 2020 IFN Halal Finance takes over from IFN Corporate

COVER STORY

COVID-19 forces focus on pharma

As the coronavirus pandemic sweeps the globe, healthcare is one of the few industries that have benefited from the current conditions — and the Halal pharmaceuticals sector is no exception. A recent report from Adroit Market Research projects the total...

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IFN Reports

  • Arab Company’s Sukuk Ijarah facility displays depth and breadth of Islamic market

    Arab Company for Projects and Urban Development, a wholly-owned construction and real estate subsidiary of Egyptian holdings company Talaat Moustafa Group, on the 8th April issued a Sukuk facility worth EGP2 billion (US$126.78 million). The...

  • Overview and outlook for the global Halal industry

    It has been fascinating to witness how the Halal industry has evolved over the past few years, as companies, organizations and even countries strategize to position themselves in this growing marketplace. DR SUTAN EMIR HIDAYAT,...

  • Insight into India: The next Halal frontier?

    The global Islamic economy has gained an increasingly strong foothold in the world economy, driven by increasing Muslim consumer demand for dedicated products and services compliant with Islamic law that has developed the global subsectors...

  • Islamic economy to benefit from UAE-led global Islamic finance code

    Dubai, already a market leader in terms of Halal contribution, is seeking to cement its influence in 2020–21 with the development of a new global legislative code to enable authorities around the world to embed...

  • Malaysia looks to support SMEs through coronavirus

    Malaysia’s central bank, Bank Negara Malaysia (BNM), has not only increased its SME financing fund by a further RM4 billion (US$937.7 million) to RM13.1 billion (US$3.1 billion), and offered SMEs access to credit guarantee schemes...


Latest News Briefs

IsDB sets up US$730 million coronavirus fund
06/04/2020

The IsDB has launched a ‘Strategic Preparedness and Response Facility’ (SPRF) to help its members navigate the challenging economic conditions under COVID-19. “The SPRF funding will target interventions that focus on emergency preparedness and response to curb and contain the spread of the COVID-19, minimize socioeconomic impact of the pandemic especially on the poor, and to build resilience of member countries in responding to outbreaks and pandemics,” said the bank in a statement. This will include trade financing support for both the public and private sectors, as well as credit and risk insurance to sustain imports of critical commodities.

Standard Chartered Saadiq boosts SME focus
06/04/2020

Malaysia’ Standard Chartered Saadiq is looking to grow its SME business by approximately 13% in 2020 following the launch of its Halal360 portal, which supports Halal businesses with financial incentives such as favorable foreign exchange rates, preferential pricing on accounts, cheap financing facilities and a wide range of Shariah compliant products including trade finance, liquidity management and working capital solutions. CEO Abrar Anwar told the media this month that the bank was focused on ‘Islamic Tayyab’, making sure that the principles of Shariah are adhered to all the way along the supply chain, meaning that Islamic finance is and will become increasingly important for Halal companies seeking end-to-end compliance.

Halal performance remains robust in Malaysia
06/04/2020

The Halal Development Corporation (HDC) has released promising figures on the Halal sector, despite the current challenging conditions. In a statement on the 25th March, HDC noted that the industry was expected to contribute 7.4% of Malaysia’s GDP in 2020 (up from 7% in 2019). “Through increased consumer confidence, Malaysia registered a Halal export value of RM40.2 billion (US$9.21 billion) in 2019, a slight increase as compared to RM40 billion (U$9.16 billion) in the previous year, backed by higher imports from the Americas,” said CEO Hairol Ariffein Sahari. “In 2019, the Americas contributed an estimated RM4 billion (US$916.98 million) of imports from Malaysia as compared to RM3.7 billion (US$848.21 million) in 2018, displaying a year-on-year increase of 7.7%”. The country’s Halal sector had been predicted to reach RM50 billion (US$11.46 billion) in 2020, but has seen growth slow somewhat due to the coronavirus crisis.

Olympic postponement could hit Halal industry hard
06/04/2020

The delay of this year’s Olympic Games to the summer of 2021 is likely to damage the Halal industry, according to Hairol Ariffein Sahari, CEO of Malaysia’s Halal Development Corporation (HDC), who has suggested that Halal-exporting economies in total could see a shortfall of up to US$3 billion, with Malaysia alone taking a US$200 million hit. HDC and other agencies have been active in promoting the Games to Halal producers in the run-up to the event, with numerous roadshows and events set up to encourage Halal food, pharma and fashion businesses to participate. Estimates had earlier predicted a 25% jump in Halal exports to Japan as a result.

Malaysia hopes for Halal Olympic gold
27/02/2020

Food firms from Malaysia are hoping to be big winners from an influx of Muslim travellers to Japan for the Olympics and Paralympic Games, running from late July to September. The country is aiming to use the Games as a springboard to boost its Halal exports, which include food and cosmetics, by 20% to US$12 billion this year. It exported Halal goods worth US$604 million to Japan in 2018, according to the Malaysia International Islamic Financial Center (MIFC), 90% of it food and food ingredients. Malaysia’s Halal Development Corp (HDC) expects an additional 1,000 premises to be Muslim-friendly certified in Japan by the end of 2020 from the current 500. According to HDC chairman Mahmud Abbas, this will create new demand for Malaysian businesses to export Halal products to the country.

Taiwan goes 100% Halal at Gulfood 2020
27/02/2020

Led by Taiwan’s Bureau of Foreign Trade, Ministry of Economic Affair and Taiwan External Trade Development Council (TAITRA), 20 Taiwanese vendors entered February’s Gulfood exhibition – the world’s largest food and beverage trade event – with every one meeting all Halal regulations. Though a non-Muslim country, Taiwan has been developing its Halal food industry in recent years to appeal to a wider set of demographics from around the world.

Global Halal ingredients market booming
27/02/2020

According to a recent analysis of Reports and Data, the global Halal Ingredients market was valued at US$46.8 billion in 2019 and is expected to reach US$66.9 billion by 2026, at a CAGR of 6.2%. The Middle East was the fastest-growing regional market for Halal ingredients in 2019, at a CAGR of 3%, due in part to a high migrant population and increasingly strict regulations around Halal certification.

Pakistan and Turkish agencies cooperate on Halal standards
27/02/2020

The Halal Accreditation Agency of Turkey and Pakistan’s National Accreditation Council have signed an MoU with a view to developing uniform standards within the Halal sector. The two agencies will share experiences in the field and help each other through joint seminars, conferences and training programs. Dr Tariq Masood, a spokesperson for Pakistan’s Ministry of Science and Technology, told the media that developing a uniform standard that was acceptable to all would discourage the fragmented standards currently practiced throughout the country.

Foodico signs settlement with Islamic Faisal Bank
27/02/2020

Egytpian Ismailia National Food Industries (Foodico) has signed an agreement with Islamic Faisal Bank to settle the maturity of EGP4 million (US$253,664) to be repaid in EGP150,000 (US$9,512.42)-monthly instalments, according to a bourse filing.

IsDB set to issue Sukuk
29/11/2019

SAUDI ARABIA: The IsDB is set to raise EUR1 billion (US$1.1 billion) through a five-year green Sukuk issuance, Reuters reported. The ‘AAA’-rated financial institution is offering investors 28bps over midswaps for the debt sale.

Mauritania prints Islamic treasury bond
29/11/2019

MAURITANIA: Mauritania has issued an Islamic treasury bill for MRU220 million (US$5.86 million) although it was initially offering a paper worth MRU400 million (US$10.65 million). The instrument has a tenor of 180 days and an average profit rate of 4.81%.

Indonesia offers green retail Sukuk
29/11/2019

INDONESIA: The Indonesian finance ministry has begun offering green retail Sukuk to the public. With a minimum subscription of IDR1 million (US$71.31), were in November able to place an order of up to IDR3 billion (US$ 213,923). The retail savings Sukuk will mature on the 10th November 2021 and is distributed through 15 banks, two peer-to-peer platforms, three mutual fund fintech companies and three securities companies. The non-tradable paper carries a return rate of 6.75%.


A Review of Last Months’ Global Islamic Finance Industry