Halal Market Forum 2011 focuses on prospects

AL ISLAMI and CNBC Arabia TV, Dubai Media City organised the Halal Market Forum 2011 at the conclusion of channel’s Ramadan programming. The industry   experts who were invited to the forum include: Hamid Badawi, deputy chief executive officer of Al Islami Foods; Alaa Kamal, head of Sales and Marketing  of Midamar Middle East, a US-based halal food producer; and Wahid Kandil, general manager of Prairie Halal Foods Middle East, a Canada-based halal food  producer.

The speakers agreed that the immediate potentials for investors of halal food  market are in acquiring high net worth halal food producers,  slaughterhouses, ingredients production, halal livestock, halal raw meat, and  halal industrial parks.

Commenting on the fast growth of the market, Hamid Badawi said: "From the business point of view, halal has some major health and business benefits. That is why the market is developing. Attractive growth numbers are grabbing attention of investors."

"A Global Halal Standard and Global Halal Certification is a key to resolve  the sensitive issues faced by the industry, otherwise the market will remain fragmented and in regional hubs."

Legislations for halal certification vary from one Islamic school of thought,  called Madhabin Arabic, to another. The halal market is currently in the "brainstorming phase" of developing Common Halal Standard and Common Halal  Certification acceptable to all four Madahib in the Islamic world.