Mrs. Attiya Nawazish Ali Asst. Secretary General

Islamic Chamber of Commerce, Industry & Agriculture (ICCIA)

Brief about ICCIA:-

•  Islamic Chamber of Commerce, Industry & Agriculture (ICCIA), an affiliated Institution of the Organization of Islamic Cooperation (OIC) was established in 1978.

•  Since more than Three Decades it has been in the Service of the

Economic Community of OIC Member Countries. •  It strides to strengthen economic cooperation among the private

sector of the Member States.

ICCIA areas of cooperation:-

•  ICCIA represents the private sector of 57 OIC Countries and works towards strengthening economic cooperation among them, through Organizing Private Sector Forums, Conferences, Workshops & Training programs on:- –  Capacity Building, Poverty Alleviation; –  Value-addition, Agriculture & Rural development; –  Economic Empowerment of Women –  Promotion of SMEs & Utilization of Microfinance –  Concept of doing Halal business –  Innovation & Excellence Award (ITQAN) –  Promotion of Tourism –  Developing Entrepreneurship, particularly among women and the youth.

ICCIA’s Members MALDIVESMALIMAURITANIAMOROCCOMOZAMBIQUENEGARABRUNEIDARUSSALAMNIGERNIGERIAOMANPAKISTANPALESTINEQATARSAUDIARABIASENEGALSIERRA-LEONESOMALIASUDANSURINAMESYRIATAJIKISTANTOGOTUNISIATURKEYTURKMENISTANUGANDAUNITEDARABEMIRATESUZBEKISTANYEMEN

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Halal Market:

•  The global halal economy was valued at US$3.2tn in 2012 and forecasted to double to US$6.4tn by 2018.

  •  The global halal market has emerged as a new growth sector in

the global economy and is creating a strong presence in developed countries. The most promising halal markets are the fast-growing economies of Asia, Middle East, Europe and the Americas.

World Halal Market :-

Expansion of Halal Industry:-

•  The Halal industry has now expanded beyond the food sector to include pharmaceuticals, cosmetics, travel, tourism, hospitality etc.

Halal Market for Businesswomen:_

•  Muslims represent an estimated 23% of the global population or about 1.8 billion consumers with an average growth rate of 3% per annum.

•  This market provides huge potential for businesswomen,

companies, organizations and others, from the west and from Muslim countries.

Halal Market Volume:-

•  Halal market is not confined to the Muslim Countries, but is in demand in all the 195 countries of the world……. This reflects the market volume.

•  Halal no longer is confined to the concept as defined in the

Quran, but has got a more greater scope as it encompasses the basic ethics of life which are applicable to all human beings…. Such as being correct, transparent, truthful, eat, clean and healthy.

Outreach of Halal Concept:-

•  Halal is no longer just a stamp of approval by a certifying authority. Today, Halal consumer want to ensure that the product not only adheres to Islamic principles, but also fulfills the ethical, the healthy, and the clean requirements of the society.

OIC Initiatives:-

•  OIC Countries that have expertise in Halal food processes have an opportunity to develop partnerships with non-OIC countries eager to strengthen their Halal capabilities. Countries such as China, South Korea and South Africa are already partnering with Malaysia and the UAE to develop their Halal capabilities. OIC and its institutions are undertaking initiatives to have a uniform standardization and accreditation.

Women in Halal Industry:

•  The role of women is very significant taking into consideration that Halal requirement is also needed in sectors dominated by women, such as :- –  Cosmetics –  Clothing –  Advertising –  Travel & Tourism

Role of OIC:-

•  The OIC Plan of Action for the Advancement of Women (OPAAW) is an important initiative by the OIC for empowering women.

•  The Plan ensures equal opportunities to women in doing business

in the area of Halal. •  The market and the opportunities in the OIC region are immense,

taking into consideration the requirement of Halal, as per Sharia.

Challenges and opportunities:-

•  Even though the Halal market is big, it has challenges. –  Not fully conversant with the actual requirement of Halal. –  Full application of Halal standards in the value chain –  Lack of uniform standards and hence the variation from

countries to countries

Challenges and opportunities:-

•  There are of course many difficulties surrounding what is in itself the positive scenario of the Muslims’ purchasing power. There needs to be greater unity in doing Halal business, legal and religious rulings and overall synergy in the different component of doing Halal business.

•  Not only is there a lack of Islamic infrastructure, there is also a need for an upto-date, convincing portrayal of the entirety of Islamic economic concepts, starting from the type and role of money, market regulations, and the products which are acceptable for purchase.

•  Another area which needs to be developed is the flow of updated information regarding Halal and Halal business. Currently the data available is not sufficient to match the potential available. At times, it is difficult to obtain accurate figures and market analysis.