In many countries, government relief packages amid the coronavirus pandemic should help to soften the near-term effect for Islamic banks, says Bashar Al-Natoor from Fitch Ratings.
The demand for Sharia-compliant products is growing, so Islamic finance is poised to expand in 2020, Moody’s says.
The New Zealand state has taken over the country’s leading halal certifier – and is now involved in the global halal business.
According to the 10th Global Islamic Finance Report (GIFR) 2019, the estimated figure for the global Islamic financial industry at the end of 2018 was US$2.6 trillion after recording a growth of 6.58%.
Indonesia wants to import 50,000 tons of frozen beef from Brazil. The Asian country mainly imports beef from Australia and New Zealand.
The halal law in Indonesia will start in October 2019. Foreign producers hope for a weakening of the law.
The Philippines have a new national halal logo and want to export even more halal products.
Digitization and regulatory support are driving the growth of Islamic financial products in Malaysia and Indonesia.
More than 300 national and international exhibitors show their products at the Halal Indonesia Expo in Jakarta.
Malaysia is an important base for the global halal market. The Southeast Asian state connects all participants with a Halal ecosystem.
Malaysia is ahead in the global halal business. But its Southeast Asian neighbor Indonesia also wants to play a more active role.