Global halal market to reach 3.1tn dollar by 2023: Webinar

The demand of the halal products including food, beverage, cosmetics and pharmaceuticals is growing due to its significant effect on health of the people.

The right ecosystem support, collaborative approach and Islamic financing opportunities may hold the key to expanding the market in near future, said a press release.

It is projected that the global halal industry is set to reach $3.1 trillion by 2023, the media release added.

A webinar titled on “Halal 360: Connecting Your Business to the Halal Ecosystem” was jointly organised by Standard Chartered Saadiq (Bangladesh) and Standard Chartered Malaysia recently.

The discussants exchanged insights on how Malaysia and Bangladesh can tap into the halal ecosystem to achieve prosperity through business and economic collaboration.

With a network of international Islamic banking spanning across Asia, Africa, and the Middle East, new markets of Sharia-compliant products have immense opportunity of growth, they stated.

Md. Golam Sarwar, High Commissioner of Bangladesh to Malaysia, graced the occasion as the keynote speaker. Abrar A. Anwar, CEO, Standard Chartered Malaysia and Naser Ezaz Bijoy, CEO, Standard Chartered Bangladesh spoke in the event.

The webinar was hosted by Bitopi Das Chowdhury, Head, Corporate Affairs, Brand and Marketing, Standard Chartered Bangladesh, while the panel was moderated by Bilal Parvaiz, Executive Director, Islamic Business and Product Management, Standard Chartered Saadiq Malaysia.

The distinguished panelists of the webinar include Rizwan Rahman, President of the Dhaka Chamber of Commerce and Industry (DCCI), Naser Ezaz Bijoy, Chief Executive Officer (CEO) at Standard Chartered Bangladesh, Ahsan Khan Chowdhury, Chairman and Chief Executive Officer, PRAN-RFL Group Bangladesh, Wan Amir-Jeffery Wan Abdul Majid, Chief Operating Officer, Duopharma Biotech Berhad, Malaysia, Dhaliff Anuar, Head, Halal Consultancy and Advisory, Halal Development Corporation Berhad, Malaysia, Ahsan Ali, Managing Director and Head of Islamic Origination, Standard Chartered Saadiq.