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Towards a Halal Economy

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Towards a Halal Economy

  1. 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. 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. 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. 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. 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. 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. 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. 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. 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. 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. 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. 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. 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. 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. 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. 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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