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Towards a Halal Economy
Towards a Halal Economy
Towards a Halal Economy
Towards a Halal Economy
Towards a Halal Economy
Towards a Halal Economy
Towards a Halal Economy
Towards a Halal Economy
Towards a Halal Economy
Towards a Halal Economy
Towards a Halal Economy
Towards a Halal Economy
Towards a Halal Economy
Towards a Halal Economy
Towards a Halal Economy
Towards a Halal Economy
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Towards a Halal Economy

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  • 1. Towards a Halal Economy the power of values in global markets A Halal Agenda for the New Decade Abdalhamid Evans, Director, World Halal Forum World Halal Forum 2011 ~ A Halal Agenda for the New DecadeThursday, 7 April 2011
  • 2. Towards a Halal Economy 2 ■ A journey, a direction, an intention, a strategy ■ Growth and evolution ■ Guided by belief and values ■ Values are actions. Actions are values ■ It is not a topic...it is what we are doing ■ There is no such thing as ‘business as usual’ World Halal Forum 2011 ~ A Halal Agenda for the New DecadeThursday, 7 April 2011
  • 3. we’re all in the Marketplace now 3 ■ Live in a consumer reality ■ One big marketplace ■ Goods, services, money & messages ■ Corporations wield more power than governments ■ Marketplace is the arena of power ■ Our challenge is to make the marketplace Halal World Halal Forum 2011 ~ A Halal Agenda for the New DecadeThursday, 7 April 2011
  • 4. ‣Lawful ‣Safe ‣Products ‣Nutritious ‣Services ‣Ethical ‣Healthy ‣Companies ‣Moral Halal ‣Humane ‣Management ‣Spiritual ‣Aware ‣Leadership ‣Equitable Re-defining Shared Values Halal Values acquire Commercial Value within the Halal economy Islamic values merging with eco-ethical moral values in todayʼs market arena 4Thursday, 7 April 2011
  • 5. ‣Policy ‣All Foods ‣FTAʼs ‣Ingredients ‣Finance ‣Meat ‣Non-food ‣Investment ‣Pharma ‣Poultry Halal ‣Media ‣Logistics ‣Slaughter ‣Social ‣Accreditation ‣Global Evolution of a Market Force Being defined as we speak Where are we going to take it? 5Thursday, 7 April 2011
  • 6. The Halal Market Components 6 Governments Compliance Consumers Halal Values in Action Industry Media Finance World Halal Forum 2011 ~ A Halal Agenda for the New DecadeThursday, 7 April 2011
  • 7. Policy issues Muslim and non-Muslim GeoPolitical and Social implications Free Trade Agreements Inward Investment Export earnings Employment Engine for economic stimulus Have to understand the issues 7 Governments World Halal Forum 2011 ~ A Halal Agenda for the New DecadeThursday, 7 April 2011
  • 8. Certification as ‘cottage industry’ is going to end Clear Standards 3rd Party Audits Transparent transactions Overseen by Accreditation agencies Port-to-port protocols Halal as a ‘screen’ for index- linked investment funds 8 Compliance World Halal Forum 2011 ~ A Halal Agenda for the New DecadeThursday, 7 April 2011
  • 9. Halal goes Mainstream Mainstream goes Halal Boardroom decision issue Risk assessment BRC dynamics will emerge SME’s have to raise their game Market is global Strategic alliances Have to promote understanding 9 Industry World Halal Forum 2011 ~ A Halal Agenda for the New DecadeThursday, 7 April 2011
  • 10. Halal and IF in silos Convergence has started SAMI Index Halal becomes an Asset Class Index-linked funds Venture Capital Micro-Finance Food Security issues Sovereign wealth funds 10 Finance World Halal Forum 2011 ~ A Halal Agenda for the New DecadeThursday, 7 April 2011
  • 11. Shaping Opinion Reaching the Customer Going Social Pro-active engagement with culture Values-driven content Global Urban Muslim Post-cultural Islam 11 Media World Halal Forum 2011 ~ A Halal Agenda for the New DecadeThursday, 7 April 2011
  • 12. 3rd Billion ~ China, India & Muslim Consumers Unrecognised power Generational shift taking place Next chapter, new rules Online communities Unknown areas between Shariah and consumer preference Uncharted market dynamics 12 Consumers World Halal Forum 2011 ~ A Halal Agenda for the New DecadeThursday, 7 April 2011
  • 13. Halal Sector Dynamics 13 meat full range of foods slaughter farm-to-fork-to-finance food only non-foods products religious eco-ethical legal consumer preference outer structure inner identity rules values certification accreditation standards procedures ideology policyThursday, 7 April 2011
  • 14. Four Major Trends - Two Are Structural/Instutional 14 Food & Finance Accreditation ➡ Halal becomes an asset class ➡ New Accreditation agencies ➡ Islamic funds to Halal sector ➡ End to unregulated certification ➡ New investment opportunities ➡ Clear verifiable standards ➡ M&A and conversion ➡ Third-part independent audits ➡ Index-linked funds ➡ Elimination of conflicts of interest ➡ Cross-pollination between ➡ Port-to-Port protocols and networks Shariah scholars ➡ Supply chain track & trace ➡ New regulatory infrastructures ➡ Investment screening World Halal Forum 2011 ~ A Halal Agenda for the New DecadeThursday, 7 April 2011
  • 15. Four Major Trends - Two Are Dynamic/Social 15 Consumer Power Melting Pot of Values ➡ Recognition of this reality ➡ Merging of values ➡ by policy makers ➡ Global Urban Muslim ➡ by industry ➡ New media platforms ➡ by consumers ➡ New media content ➡ Numbers count, Size matters ➡ Reflecting new values ➡ New Consumer networks ➡ ‘Post-cultural’ Islam ➡ Online is a must ➡ New ‘East-West’ relationships ~ Defining The Next Decade ~ World Halal Forum 2011 ~ A Halal Agenda for the New DecadeThursday, 7 April 2011
  • 16. A Final Thought 16 Thank You! “The best way to predict the future is to invent it” Alan Kay World Halal Forum 2011 ~ A Halal Agenda for the New DecadeThursday, 7 April 2011

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