O mankind, eat from whatever is on earth [that is] lawful and good and do not follow the footsteps of Satan. Indeed, he is to you a clear enemy. Surah Al-Baqarah [2:168]
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Press Release
2014 will be promising for Islamic Finance Industry
Islamic finance volume will be reaching at US $ 2 trillion with having 78% share of Islamic banking, 16% Sukuk, 1% Takaful, 4% Islamic funds and 1% Islamic Microfinance: Zubair Mughal
31-12-2013
2014 will be promising for Islamic Finance Industry
(Lahore) Islamic finance will grow with rapid pace in the year 2014 and its volume will pass through US $ 2 trillion where Islamic banking keeps 78%, Sukuk 16%, Takaful 1%, Islamic Funds 4% and Islamic Microfinance has 1% share in the Islamic Finance industry. In the year 2014, Dubai and London will be in competition to be the global hub of Islamic Banking and Finance while Kuala Lumpur will also attempt to be in this contest but the Islamic finance industry can be grown more through synergizing approach and alliance with industry stakeholders rather than setting any competition. These views were expressed by Islamic Finance expert, Mr. Muhammad Zubair Mughal, CEO - AlHuda Centre of Islamic Banking and Economics (CIBE) during an analysis on Islamic finance industry in the beginning of year 2014.

He said that the Islamic finance industry growth will go on double digit in 2014 which will turn the US $ 1.6 trillion volume of Islamic finance industry in December 2013 to US $ 2 trillion by the end of 2014 including North African countries (Tunisia, Libya, Morocco, Senegal and Mauritania etc), rising trends of Islamic finance in Europe and UK, also the rising and substantial share of international market of Sukuk shall contribute to it. It is anticipated that India and China may step towards the Islamic finance in 2014 where more than 200 million Muslim populations are in search of a compatible financial system with their religious beliefs and thoughts. He said there is no doubt that international financial crisis will not hit the Islamic finance industry but due to the Arab Spring, Islamic finance industry has faced recession in some countries of MENA but there are chances of their revival in 2014.

He, giving an analysis, said that Sukuk will grow rapidly in 2014 and Muslim countries including non-Muslim countries e.g UK, China, South Africa and Europe etc will also get benefit from it which will enhance the growth in Islamic finance industry but Takaful Industry is not supposed to have any substantial breakthrough. It is being hoped that 2014 will prove better period for Islamic Microfinance industry as different international institutions including Islamic Development Bank (IDB) have declared it a potential tool for poverty alleviation around the globe. He also added that Islamic finance industry may face recession in certain countries including Indonesia while in Nigeria and Tunisia it may face some problems on religious and political grounds. He said that the Islamic finance initiatives in America and Canada including Latin American countries (Brazil, Argentina and others) have been taken and it is hoped that Islamic Funds market will come into existence in these regions by the year 2014.
 
Tunisia has big potential for Islamic Finance: Zubair Mughal
Tunisia would be the global hub of Islamic Finance for French speaking countries
16th December, 13
There are big opportunities to promote Islamic finance in Tunisia which can be the global hub of Islamic Finance for French speaking countries, said by Muhammad Zubair Mughal, Chief Executive Officer - AlHuda Centre of Islamic Banking and Economics (CIBE) in an international conference on “Finance and Enterprise” jointly organized by World Bank, International Monetary Fund (IMF), International Finance Corporation (IFC) and European Bank for Reconstruction and Development in Sousse – Tunisia, which was attended by the Prime Minister of Tunisia including many government ministers, heads and senior delegates from Central Banks, World Bank, IMF, IFC, European Bank and other dignitaries from different international organizations.

Muhammad Zubair Mughal, being the guest of honor, during his address stated that international financial crisis can be addressed in a better way through Islamic Finance and such financial crisis could have not been happened if Islamic financial system was followed and implemented at that time, he said there are about 2000 Islamic Financial Institutions working globally as Islamic Banks, Takaful ( Islamic Insurance), Sukuk ( Islamic Bonds), Islamic Fund and Islamic Microfinance institutions etc in more than 100 countries and fortunately no Islamic Financial institution was effected by such global financial crisis which ensures the strength and rationality behind the Islamic financial system. He also added that international institutions such as Islamic Development Bank (IDB), Accounting and Auditing Organization of Islamic Financial Institutions (AAOIFI), Islamic Financial Services Board (IFSB) and International Islamic Liquidity Management (IILM) are dedicatedly working for Islamic finance around the globe which will further promote and strengthen the Islamic finance in future globally. He, responding to a question related to the relationship between religion and Islamic finance in question answer session, said that Islamic banking and finance is a name of a system not religion so all other religions can get benefit from it and that is why Islamic banking and finance is growing in the western world while non Muslims are utilizing the Islamic financial products, considerably, to fulfill their business, personal and financial needs as in only America which has more than 20 Islamic financial institutions are working, which are actively providing the Islamic financial services to fulfill the financial needs of Muslims and non-Muslims equally.

During his stay in Tunisia, he met with Dr. Amel Amri, President – Tunisian Association for Islamic Finance (TAIF), Dr. Raza, President – Islamic Economic Association Tunisia and heads of some other Islamic financial institutions. He said that Tunisia has a good recognition in Islamic financial industry having 2 full-fledged Islamic banks, Takaful companies, universities with having Islamic finance program, Sukuk Laws and some other similar institutions which are indicating the best future of Islamic finance in Tunisia but he, realizing the need of Islamic microfinance, said that Islamic microfinance is missing component of Islamic finance in Tunisia while socioeconomic development and poverty reduction can be done in better way through Islamic microfinance in Tunisia.
 
A New Venture Established to Strengthen Islamic Finance in France and USA
2nd December, 13
(Dubai - UAE) A Memorandum of Understanding (MOU) has been signed between Al Huda Center of Islamic Banking and Economics (CIBE) and Franco-American Alliance for Islamic Finance (FAAIF) to cooperate in the development of Islamic banking and finance in France and the United States. Both parties agreed to work together, leveraging their different areas of regional and professional expertise of Islamic finance and synergizing their skills for the broader goal of promoting and developing Islamic finance worldwide, especially in the Franco – American region.

MOU Signing Ceremony held in Dubai, United Arab Emirates today, in which Muhammad Zubair Mughal, Chief Executive Officer of Al Huda CIBE and Camille Paldi, Chief Executive Officer of FAAIF signed the agreement. During the media briefing, Camille Paldi mentioned that she is excited to bring Islamic financial services, training, and expertise to her home country the United States after having spent many years’ education & training abroad in Islamic finance, law, and Shari'ah. With her strong knowledge of Islamic banking, finance, Shari'ah, and law, Paldi hopes to impact the financial services sector in the USA, helping to boost the economy and steer the nation in a new direction. Paldi is excited to utilize her international network to help achieve this purpose, starting with this MOU with AlHuda CIBE.

While discussing the importance of this MOU, CEO of AlHuda CIBE, Zubair Mughal said that this is the right time to introduce Islamic financial solutions to the Western world so that they may explore the option of solving financial dilemmas and crises with Islamic financial instruments, derived from the Holy Book. Zubair said that AlHuda CIBE will extend their scope of services in European and American markets through the help of FAAIF. He also mentioned that AlHuda's services in these regions would include Islamic finance product Development services, sukuk structuring, Takaful development, and Shari'ah advisory. He also mentioned that Alhuda CIBE already has a very strong professional network in Central Asia, the Middle East, and African regions, but through this MOU, Moghul plans to extend their scope in the American markets as well.

AlHuda CIBE is a well-established brand in the international Islamic finance and banking industry focusing on Advisory, Consulting, Capacity, and Shariah Advisory services, while FAAIF is an emerging Alliance of Franco – American financial experts, which is headed by renowned legal and Islamic financial expert Camille Paldi.
 
Islamic Microfinance should be Introduced Internationally: Dr. Fatima Al-Blooshi
Three days’ 3rd Global Islamic Microfinance Forum ended in Dubai with a declaration to put joint efforts for the poverty alleviation
10-10-2013
(Dubai) Islamic Microfinance is an effective tool for the poverty alleviation and it should be introduced around the globe to state an effective policy for ultimate poverty alleviation from the world, these views were stated by Dr. Fatima Mohamed Yousif Al-Balooshi, Minister (Ministry of Social Development – Bahrain) as a Chief Guest in the 3rd Global Islamic Microfinance Forum (GIMF) held on 6th to 8th October, 2013 at Dusit Thani Hotel, Dubai in which delegates from more than 30 countries participated actively and this Forum was organized and conducted by AlHuda Centre of Islamic Banking and Economics (CIBE). She also added that Islamic Microfinance should be presided and supported by the Government in different countries of the world to promote the Islamic Microfinance Institutions. She also admired the endeavors of AlHuda CIBE at the inauguration of 3rd Global Islamic Microfinance Forum on 6th Oct, 2013 and also proposed to conduct the 4th Global Islamic Microfinance Forum in Bahrain.

Muhammad Zubair Mughal (CEO – AlHuda CIBE), addressing to the Forum, said that Poverty is increasing in the Muslim countries rapidly and consequently the half of the world poverty has, approximately, been confined to the Muslim countries in the current age. The involvement of interest in micro financing is one of the major causes behind this phenomenon and that is why Muslims hesitate to avail microfinance facility. If Islamic Microfinance is not introduced resolving this issue, the world’s poverty will increase extraordinarily. He said that the forum aimed at gathering all the Islamic Microfinance Institutions at single platform, to streamline the policies for poverty reduction, to promote the Research and Education in Islamic Microfinance industry and to enhance its outreach on global canvas. He said that current facts to the failure of microfinance system require an alternative and prudent Islamic Microfinance system to the world to enhance the financial inclusion globally and ultimate global economic prosperity.

Addressing to the forum Mr. Mr. Hamdan Mohamed Al Murshidi (President & Chairman of the Board, Arab Business Club, United Arab Emirates) said that there is no other argument to address poverty through Islamic Microfinance as it is the ultimate solution to this problem and also he committed with his reward less services to promote Islamic Microfinance globally. While Mr. Amjad Saqib (Executive Director – Akhuwat) said that Islamic Microfinance is a Hope for the Poor which they (poor) are looking forward to resolve their Social and Economic problems, so Islamic Microfinance should be promoted globally. He, by presenting Akhuwat as a case study, figured out that there are about 380000 families benefitting through Qarz e Hasana from Akhuwat. Meanwhile its portfolio has crossed PKR. 5 billion with an increasing trend day by day.

The forum was attended by Researchers, Scholars and Islamic Microfinance practitioners including: Justice (R) Khalil Ur Rehman (Shariah Advisor – AlBaraka Islamic Bank, Chairmen – Punjab Halal Development Agency – Govt. of Pakistan), Mufti Aziz Ur Rehman (Manager-Shariah, Mawarid Finance – Dubai), Dr. Ajaz Ahmed Khan (Microfinance Advisor, CARE International UK), Mr. Atef Ebrahim (Chief Executive Officer, Family Bank - Bahrain), Mr. Zeinoul Abedien Cajee (Founding CEO/ Management Board, National Awqaf Foundation of South Africa), Mr. Mamode Raffick Nabee Mohomed (Founder/ Secretary, Al Barakah Multi-purpose Co-operative Society Limited – Mauritius), Ms. Rehab Lootah (Managing Director - Mawarid Consultancy Dubai - U.A.E), Mr. Mohamed El Mehdi Zidani (Author - An Islamic Analysis of the Grameen Bank and Director Baraka Editions – France), Mr. Pervez Nasim (Chairmen & CEO, Ansar Financial and Development Corporation – Canada), Mr. Abdul Samad (Shariah Advisor, The Bank of Khyber – Pakistan), Mr. Humayun Saeed Jamshed (Senior Director - Islamic Banking & Finance, SAB – France), Mrs. Thamina Anwar (Founder and CEO, Awqaf New Zealand Mrs. Helena Lutege (Founder and Managing Director, BELITA Fund – Tanzania), Mr. Ali Tariq (Executive Director, Iraqi Microfinance Network – Iraq), Dr. Mohammed Kroessin (Global Microfinance Advisor – UK), Mufti Barkatulla (Sharia Advisor, Islamic Bank of Britain, London, UK) and some other prestigious international speakers addressed in this forum.
 
The Global Islamic Microfinance Forum Ready to Set New Standards
The Forum will determine the Standards and strategic policies for Sustainable Islamic Microfinance Development.
September 19, 2013
3rd Global Islamic Microfinance Forum(Pakistan) The Global Islamic Microfinance Forum on Islamic Microfinance is going to be held in U.A.E on 6th October, 2013 in which the delegates of more than 30 countries are expected. The purpose of Forum is to introduce Islamic Microfinance in the global canvas as an effective tool for poverty alleviation and Social development, to set its standards, to develop Islamic Microfinance internationally and to have dialogue with International Donor/Development agencies for sustainable development. Two days specialized workshop is being arranged after the forum in which the Shari’ah standards and marketing strategies to develop, operate and sustain Islamic Microfinance Institutions will be discussed. It should be noted that this forum is being jointly arranged by AlHuda Centre of Islamic Banking and Economics (CIBE) and Akhuwat. Akhuwat is a Pakistan based institute which has distributed US $ 47.65 million amongst 300,000 families via Islamic Microfinance.

Executive Director of Akhuwat, Mr. Amjad Saqib said that through this Forum, Islamic Microfinance will be introduced as a sustainable system around the world so that Islamic Microfinance could be properly utilized in order to take the world out of the darkness of poverty.

While briefing about the purpose and aims of this Forum, Chief Executive Officer of AlHuda Centre of Islamic Banking and Economics, Mr. Muhammad Zubair Mughal said that poverty is going up due to the failure of present microfinance system whereas in order to solve this problem, whole world is looking towards Islamic Microfinance. He said that if Islamic Microfinance is not included in the strategies for alleviating poverty then the achievement of Millennium Development Goals (MDGs) of United Nations would become so difficult because Muslims are 46% of World’s total poverty and United Nations has added 26 countries from the 57 Countries of OIC among the Least Developed Countries. So, Islamic Microfinance is mandatory in order to alleviate poverty from the Muslim Countries because Muslims avoid Conventional Microfinance due to the factor of interest, as Interest is strictly prohibited in Islamic that is way Interest is an important reason for the poverty in Muslim Countries. He also added that current facts and figures, as per the latest report of poverty reduction in India, China and other countries, are showing that poverty in Muslim countries is increasing day by day while in non Muslim countries it is decreasing constantly. It is worth to mentioning that Islamic Microfinance is a system, it is not a religion rather it can be utilized/operated by both Muslims and Non-Muslims for social development & poverty alleviation.

He further said that now the time has come that the International Organizations like UN, ADB, IFC, USAID, GIZ, DIFD, and IFAD etc. have to play their role to alleviate poverty from the world by including Islamic Microfinance in the strategies to reduce poverty. He said that Islamic Microfinance has more characteristics to alleviate poverty in comparison with Conventional Microfinance and it can be easily integrated with all the models of Microfinance like Grameen Model, Village Banking Model, Co-operative Model and Self Help Group Model etc. So in order to introduce Islamic Microfinance in the world, very fewer changes would be needed to make in Microfinance industry. He also added that in Global Forum the Islamic Microfinance related models i.e. Qarz-e-Hasana, Waqf, Islamic Commercial Microfinance, Zakat, BMT’s and some other Islamic approaches to alleviate poverty will be discussed in detail.

Forum shall last for 3 days in Dubai, at the end of which, a declaration will be issued while Dr. Fatima Mohammed Yousif Al-Balooshi (Minister of Social Development Kingdom of Bahrain) will be the Guest of Honor of the Forum and with some other distinguished speakers such as: Mufti Barkatulla (Shariah Advisor- Islamic Bank of Britain), Mr. Mohammed Kroessin (Global Microfinance Advisor – IRF World Wide, UK), Dr. Ajaz Ahmed Khan (Microfinance Advisor – Care International, UK), Mr. Zaigham Mehmood Rizvi (Renowned International Expert of Islamic Banking and Housing Finance - Washington, USA), Mr. Zeinoul Abedien Cajee (Founding CEO/Management Board – National Awqaf Foundation of South Africa), Mr. Mahesh (CEO – Umex Securities, UK), Mr. Saleem Ranjha (Director Akhuwat, Pakistan), Mufti Aziz Ur Rehman (Manager Shariah - Mawarid Finance, Dubai), Ms. Thamina Anwar (Founder and CEO Awqaf New Zealand), Mr. Atef Ebrahim (CEO – Family Bank, Bahrain), Mr. Mohamed El Mehdi Zidani (Director Baraka Editions, France), Justice Retired Khalil Ur Rehman (Shariah Advisor – AlBaraka Islamic Bank, Chairman Punjab Halal Development Agency, Government of Pakistan) and some Industry Specialists and Researchers from 15 countries will add value to the event with their participation.

For further details, please visit: www.alhudacibe.com/imfc2013
 
A Big Question Mark on Islamic Finance Industry
Muhammad Zubair Mughal - zubair.mughal@alhudacibe.com
Mr. Muhammad Zubair MughalApparently, it is a matter of pleasure that global volume of Islamic Finance Industry has crossed $ 1.3 Trillion approximately, which is, definitely, providing the best and compatible sources of finance with interest free modes. According to a careful estimate, there are more than 2000 Islamic Financial Institutions are offering Islamic Banking, Islamic Insurance (Takaful), Islamic Funds, Mudaraba, Islamic Bonds (Sukuk), Islamic Microfinance and some other institutions actively providing Islamic financial services on different modes in adherence of Shari’ah principles of Islamic Finance. If we look into the market share of above mentioned institutions, we get shocked and depressed for a while with the fact that Islamic Banking and Finance has been nearly confined to the rich people and as per the ideology of capitalism, the profit urge has captured the Islamic Financial Industry and discriminated the underprivileged people and letting them deprived from Islamic financial services. Keeping in view these facts, it should be said as the commercialism has captured Islamic Finance institutions in such a way that business with and financing to the poor has gone astray from their agenda.

According to the facts and figures (March-2013) by Consultative Group to Assist the Poor (CGAP), (an associated institution to the World Bank), the global volume of Islamic Microfinance has reached at USD 800 million with serving about 1.3 million beneficiaries. While as per the latest research (July-2013) conducted by AlHuda Centre of Excellence in Islamic Microfinance, the global volume of Islamic Microfinance has reached at $ 1 billion. Total number of Islamic Microfinance Institutions is more than 300, operating around the globe while the share of Islamic Microfinance is less than 1% from the overall volume of $ 1.3 trillion of Islamic Finance Industry, which, itself, is a big question mark on Islamic finance industry and proving its misfortune. These stated facts and figures give rise to different question such as: is social segmentation between poor and rich 1% : 99% ? Does Islamic Finance have financial resources only for the rich people? Not for the Poor? Is Islamic Finance an option only for the particular segment of society? Is it justice system of Islam? etc, whereas the answers to all these questions are in negative and awful, definitely.

As per the analysis of Islamic Finance in the light of Islamic teachings, we get into, the Islamic ideology of finance which aims at justice, cooperation, welfare of the poor and financially deprived people of society with its best principles. Islam is a name of revolution starting from poor and will ending at same. If we have a look at comparative study of different religions regarding the view point of poverty, then we come to know that poverty alleviation is not only the social responsibility in Islam rather a religious obligation as well. Zakat, Charity, Sadqa, Fitr, Usher and Qarz-e-Hasan etc are amongst the key religious responsibilities of Muslims, whereas it is a social responsibility in other religions rather than a religious one which recognized as branded name of “Corporate Social Responsibility” (CSR), and they doing good work for poverty alleviation and social development in the whole world, but unfortunately, Islamic Financial Industry have ignored its social or religious responsibilities.

If we look at the world poverty, we get surprising facts and figures. The 46% of whole world poverty exists in Muslim World while Muslim population in the world is 26%. United Nations have marked 26 out of 57 member countries of OIC, as the least developed countries. Current statistical information is highlighting that the poverty in the Muslim World is increasing day by day which is, as per the serious observation, caused by none or least response of poor people to Microfinance facilities because of interest, none or limited Islamic Micro Financing facilities provided by Islamic Financial Institutions and the least attention and interest of International Donor Agencies (UNDP, World Bank, IFC) towards Islamic Microfinance which, in return, is throwing the Muslim world into an era of poverty.

As per the praiseworthy analysis of economics experts of modern age (Mr. Tariq Ullah and Mr. Ubaid Ullah 2008), 650 million Muslims in the world are living below poverty line with less than $ 2/ per day income. While on the other hand, only the 1.3 million Muslims out of 650 million were tried to get them out of poverty through Islamic Microfinance services whereas remaining 649 million Muslim, living in poverty, are still looking forward any financial assistance through Islamic way. Islamic Finance Industry is facing lot of criticism in different aspects e.g. acceptability of Islamic Finance, objections from Shari’ah Scholars, Conflicts in Shari’ah related issues etc are the main challenges to Islamic Finance Industry. But objection to neglect the poor is very critical, once not resolved, can damage and bring a perpetual loss to the Islamic Banking and Finance Industry.

The optimal results for the economic prosperity of Islamic Finance can be ensured if Islamic Microfinance Institutions established by the Islamic Finance Industry. Although Islamic Microfinance can be energized by utilizing available charity amount of Islamic Banking and Finance industry which is worth in Million Dollars. Inter alia Zakat, Sadqaat, Waqf, other Islamic Microfinance products e.g Murabaha, Musharaka, Salam and Istisna etc can be used prolifically for poverty reduction and social development.

Our Shari’ah scholars are also responsible for insisting and pursuing the Islamic Financial Institutions to execute and promote Islamic Microfinance otherwise there is a definite chance of rumors that Islamic Banking and Finance services are only for rich people making discrimination of “Do Have and Have Not” and ensuring its ultimate benefits only to rich people.

( Muhammad Zubair Mughal as a Chief Executive Officer of AlHuda Centre of Islamic Banking and Economics (CIBE) has been working consistently for last nine (9) years for poverty alleviation through Islamic Microfinance concept; he can be reached at zubair.mughal@alhudacibe.com )
 
Indonesia’s BMT Microfinance system should be introduced Globally: Zubair Mughal
In Indonesia 5,500 BMT’s are struggling under Islamic Microfinance to eliminate poverty.
8th July, 13
(Lahore) Baittul Maal wa Tamwil (BMT) Microfinance system which is being working in Indonesia should be introduced all-around the globe as a best system to eliminate poverty which will boost-up Islamic Microfinance industry worldwide, These thoughts were expressed by Chief Executive Officer of Al-Huda Center of Islamic Banking and Economics Mr. Muhammad Zubair Mughal in his address in an International conference for “ Empowering SMEs for Financial Inclusion and Growth” held at Jakarta – Indonesia, which was organized by a well known financial institution “Sampoerna Group” of Indonesia in which large number of professionals related to Microfinance, SME, Banking and other Financial institutions participated.

During his address Mr. Muhammad Zubair Mughal Said that, Islamic financial industry of Indonesia with having 11 complete Islamic Banks, 24 Islamic windows, 43 Takaful Institutions, 16 Islamic Finance companies and more than 5,500 BMT’s holds a remarkable position in the world. He said, BMT’s in Indonesia has played an important role for the alleviation of poverty from country by adapting methods of Islamic Microfinance system, which is a clear example of success of this system But unfortunately, BMT’s methods are being limited to Indonesia only, but it is the need of the time that this system should be introduced in other countries of world along with Indonesia which will help in introducing Islamic Microfinance system in other countries of world and new Islamic Microfinance methods of BMT will be available along with Murabaha, Salam, Mudarabah, Qarz-e-Hasna and Waqf to Islamic Microfinance Institutes.

He further added that, to involve poor in financial inclusion Islamic Microfinance is very important along with branchless banking, Product innovation and financial literacy etc Because in Muslim communities major reason of poverty is to avoid interest based Microfinance and in order to bring Muslims in financial inclusion then such a Islamic Microfinance system need to be introduced which will be according to the Muslims religious and economic principles otherwise poverty will increase due to financial excluding of Muslims, which can be estimated from present facts and figures that half of world’s poverty lies in Muslim countries.

He further added, to gather Islamic Microfinance institutions and professional of the world on single plate form, the Global Islamic Microfinance Forum is going to be held on October 16, 2013 in Dubai, to compile the strategy to strengthen Islamic Microfinance industry.
 
Global Halal Meat Market volume reached up to $ 300 billion: Zubair Mughal
Brazil, America, Australia and India have substantial market share in Halal meat Industry.
 
24th June, 13
(Lahore) Halal meat market is growing rapidly throughout the world and its demand is increasing day by bay, Pakistan ranked 18th in the production of Halal Meat Market and its volume is only 2.9 % of the global Halal meat production which is very low, These views were expressed by Muhammad Zubair Mughal, Chief Executive Officer-Halal Research Council, he mentioned that Pakistan can play pivotal role in this growing market because Pakistan have more than 160 million quality live stock including 71 million Cattles & Buffalos and 89 million goats & sheep’s.

He pointed out that there is no Muslim country is included in the list of first ten Halal meat exporters, although Pakistan, Sudan and other Muslim countries have big potential of exporting Halal meat globally. He said Halal meat is not only the name of meat but more than 26 Halal industries are also based on bi-products of Halal meat e.g. Casings, Bone crashing, Gelatin, Sausages, leather and other industries are associated with it.

He further explained that to strengthen the Global Halal meat industry, Halal Research Council is going to organize an international workshop on Halal Meat which will be scheduled on 26th August, 2013 in Dubai – U.A.E. In which renowned expert, Prof. Dr. Javaid Awan - Agriculture University Faisalabad, Nasib Ahmad Saifi - Chief Executive Officer- Anis Associates Pvt. Ltd and other International speakers will limelight the need and importance of Halal Meat, Fundamentals of Halal certification, Animal welfare and stunning, Impact of Halal slaughtering on meat quality, Pre- and post-slaughtering procedures, Global market and demand for Halal meat, Strategies to increase the share of Halal meat in global meat market, Livestock management for Halal meat, Slaughterhouse automation - machinery, tools and training and Utilization of halal meat in the production of processed and semi-processed food items. The main aim of this Int’l workshop is to promote the trade and importance of Halal Meat at International level. Halal meat exporters, Veterinary Doctors, Shariah Scholars, food technologists and hotel industry will get benefit through this workshop.

Halal Research Council (HRC) is a Pakistan based think tank working for the development of Halal Industry through research, advisory, advocacy, market intelligence & Capacity Building. HRC working globally with the help of 28 International strategic partners which are based in USA, U.K, Kenya, Malaysia, Pakistan, Spain, Germany, India, Bangladesh, Sweden and other countries.
 
Islamic Microfinance Research Study initiated in Yemen
Existing demand and future trends of Islamic Microfinance will be determined: Zubair Mughal
8th May, 13
(Sana’a/Lahore): AlHuda Center of Islamic banking and economics (CIBE) Initiated a Islamic Microfinance research study for Yemen Microfinance Network (YMN) in Yemen. This study will be conducted in the Yemen’s capital Sana’a including Taiz, Adan and Almoukla, so that the Islamic Microfinance products can be examined broadly and further Islamic Microfinance products can be developed for Yemen Microfinance sector with the compatibility of existing structure. Consequently, maximum people utilize the Microfinance facility and the alleviation of poverty would be assured.

Najah Al-Mugahed Managing Director of Yemen Microfinance Network explained the association memorandum of research study that Microfinance market size in Yemen is more than one million but only 80,000 (eighty thousand) people are barely facilitating with the services and products of Microfinance which is approximately 8% of the total Microfinance market size. Its major reasons are; Non-existence of complete Islamic Microfinance range of products, Domination of Murabaha in Islamic Microfinance sector, increasing rate of Murabaha and percentage of interest in Microfinance are the obstacles in the expansion of Microfinance industry. An appropriate implementation plan would be prepared through this research study to strengthen the Yemen’s Microfinance sector.

Muhammad Saleh Al-Lai Chairman of Yemen Microfinance Network and Executive Director of Alamal Microfinance Bank proclaimed that Yemen’s Islamic Microfinance market is very promising and we want to make it stronger through this study so that Yemen could get a distinguished level through Islamic Microfinance. He further mentioned that this is our privileged that Al-amal Microfinance Bank won the award of Islamic Microfinance Challenge 2010 which was organized by Islamic Development Bank and CGAP (World Bank) which shows a clear understanding of our strong structure of Islamic Microfinance.

Muhammad Zubair Mughal Chief Executive Officer of Alhuda Center Islamic Banking and Economics (CIBE) said that our selection for the research study is a great honor for AlHuda CIBE. He mentioned that they have developed a strong research methodology for this study and used different research instruments e.g surveys, focus group discussion (FGDs), stake holder’s interviews, desk review of MFI’s and meetings with prestigious professionals of Microfinance industry to get primary & secondary information etc which will help to design the ideal products for Yemen Islamic Microfinance sector.

He further mentioned that the share of Islamic Microfinance in Yemen’s Microfinance sector is approximately 90% and remaining 10% are also converting their portfolio into Islamic Microfinance, Yemen Microfinance Industry will be further strengthened with the development of new Islamic Microfinance products, It will increase the outreach of Microfinance sector and help out to eradicate poverty.
Islamic Microfinance Market size touches $1 billion
Islamic Microfinance industry is rapidly progressing due to its superior performance for poverty alleviation
17th April, 2013
(Abu Dhabi) Islamic Microfinance is rapidly gaining acceptance in Muslim and Non- Muslim countries due to its remarkable performance in poverty eradication; because of which, this industry is making quick progress. According to our careful estimate Islamic Microfinance market’s worth has reached $1 billion. These views were expressed by Muhammad Zubair Mughal, the Chief Executive Officer of AlHuda Centre of Islamic Banking and Economics (CIBE) ,while, addressing the International Islamic Finance conference as a Guest of Honor. This conference was organized in Abu Dhabi-the capital of United Arab Emirates, in which the experts and researchers of Islamic Microfinance industry participated from all over the world. The event was organized on 14th- 16th April, 2013 in Park Hyatt Hotel- Abu Dhabi by the international research and publication organization- Emerald in association with Abu Dhabi University.

Muhammad Zubair Mughal said that currently more than 300 Islamic Microfinance institutions are offering their services to 1.6 million clients in almost 32 countries. Due to Islamic microfinance’s significant role in reducing poverty, international donor institutions and multilateral organizations like USAID, IDB, ADB, IFAD, UNDP, World Bank and IFC etc have clearly explained their policies in different countries to further strengthen Islamic microfinance, which will ensure the quick advancement of Islamic microfinance in near future. He added that if we take an overview of last 10 years of Islamic finance industry, it can be observed that with the passage of time Islamic banking, Sukkuk, Takaful and Islamic fund etc have progressed quickly. While, in next 3 years Islamic microfinance will progress more quickly relative to other Islamic financial products.

He informed that to further strengthen Islamic microfinance, AlHuda CIBE has established an international division named “Centre of Excellence in Islamic Microfinance (CEIMF). Its major objective is to provide the Advisory & Consultancy to Microfinance Institutions so that conventional microfinance institutions can be transformed into Islamic microfinance institution and along with this new Islamic Microfinance Institutes can be established. In this regard, Centre of Excellence in Islamic Microfinance is offering its services in Azerbaijan, Yemen, Afghanistan, Pakistan, Mauritius, Indonesia, Kazakhstan and other countries. He stated that there is immense need of research in Islamic microfinance industry so that new Islamic microfinance products can be introduced. As at present, only Murabaha has 80% share of total Islamic microfinance market. He mentioned that the popularity of Islamic microfinance is evident from this point that many international universities have requested AlHuda CEIMF to assist them in incorporating Islamic microfinance as a subject in their business & finance syllabus.

Muhammad Zubair Mughal said that almost half of the world’s poverty is prevalent in Muslim countries. One of the reasons of high poverty rate in Muslim countries is the refusal of Muslims to take interest based loans. Islamic Microfinance is an essential tool to eradicate poverty from Muslim world otherwise the attainment of the United Nation’s Millennium Development Goals is impossible
Halal Research Council and KPK Agriculture University Signed Agreement
Halal Research Council and KPK Agriculture University will work together for the development of Halal Industry.
11-04-2013
(Lahore) A Strategic Partnership agreement signing ceremony between Halal Research Council and KPK Agriculture University was held today at the office of Vice Chancellor of Khyber Pakhtunkhwa (KPK) Agriculture University; in which the experts from food, nutrition, livestock and other Industries were participated. According to the agreement, Halal Research Council and KPK Agriculture University will provide joint consultation, training, research and technical assistance to each other for the promotion of Halal industry especially in Khyber Pakhtunkhwa province. The strategic partnership agreement was signed by the Chief Executive Officer of Halal Research Council Muhummad Zubair Mughal, Professor Dr. Khan Bahadur Marwart Vice Chancellor of Khyber Pakhtunkhwa Agriculture University and Professor Dr. M. Subhan Qureshi – Dean Faculty of Veterinary Sciences. As per the agreement, Halal Research Council will provide international linkages and Halal Certification services to Khyber Pakhtunkhwa Agriculture University in Khyber Pakhtunkhwa’s Halal related industries. Professor Dr. Khan Bahadur Marwart Vice Chancellor of Khyber Pakhtunkhwa Agriculture University, addressing the agreement signing ceremony, said that nowadays distinction between Halal and Haram has become a big issue and organizations like Halal Research Council has smoothen this issue for general public through its expertise. He further added that due to this agreement between Halal Research Council and KPK Agriculture University, Halal Industry in Pakistan and particularly in Khyber Pakhtunkhwa will progress rapidly. Professor Dr. M. Subhan Qureshi Dean Faculty of Veterinary Sciences said that Khyber Pakhtunkhwa has a specialty that livestock is in abundance here. Khyber Pakhtunkhwa is a mountainous area, hence, meat is available in excess here relatively to dairy; and substantial amount of profit can be earned by exporting meat in the international market with Halal logo.

Muhummad Zubair Mughal the Executive Officer of Halal Research Council said that the Halal Research Council’s agreement with KPK Agriculture University will be a milestone in the development of Halal Industry, due to which educational and training efforts along with trade and advancement in Halal sector can be further strengthened. He said that Pakistan’s Shariah values are acknowledged all over the world. If we export Halal meat, poultry, dairy, confectionary, spices and other food products from Pakistan to international market, then they will be highly recognized due to our Shariah values. Moreover, he mentioned that Halal Research Council has started an 8-month Post Graduate Diploma to provide trainings on Halal industry internationally, so that experts from food, dairy, livestock and other related departments can enhance their capabilities and knowledge about Halal. This will help them ensure the quality standards in the concerned departments. He also informed that our diploma is acknowledged around the world and many international food and agriculture universities have shown their interests to make the topic of Halal as part of their educational syllabus.

It must be noted that Halal Research Council is a Pakistan based institution that is providing Halal Certification and Education & Training in Pakistan and many other countries.
Al-Huda CIBE commenced its operation in Uganda for the development of Islamic Banking in East Africa
Islamic banking and finance in East African Countries will flourish rapidly: Zubair Mughal
20-03-2013
(Lahore) AlHuda Centre for Islamic Banking and Economics (CIBE) has initiated its operation with the brand name of “AlHuda CIBE Uganda” in East African country, Uganda. Together with Uganda, other countries of East Africa e.g. Sudan, Kenya and Tanzania etc can also be catered, where a huge Muslim population and the demand of Islamic banking already exists. Hence, Islamic Banking and Finance can flourish in those countries promptly. It is also noteworthy that Uganda, whose population is more than 36 million with 14% Muslims, is an important country in East Africa.

On the logo inaugural ceremony of AlHuda CIBE Uganda, Mr. Zubair Mughal- Chief Executive Officer of Al-Huda CIBE anticipated that the future progress of Islamic Banking in Africa, it will not only increase the economic and trade undertakings in the above mentioned countries but also it will be a stimulative cause of national development and growth in GDP. He said that future Islamic banking and finance market consists of what else than Africa and Central Asia. Moreover, Middle East’s Islamic financial institutions have already asserted their interest in Islamic finance in Africa. He said that Islamic finance will help out to alleviate poverty in Africa as Islamic Micro Finance has already been commended in the globe for poverty mitigation and economic and social development. He further said that AlHuda CIBE is commencing its services in South Africa soon to upsurge its incidence in African countries. He added that Islamic Banking is flourishing in African countries aggressively e.g. South Africa, Tanzania, Kenya, Sudan and Tunisia and many more. Many Islamic banks, Takaful companies, Islamic Fund and other Islamic financial institutions are already playing their role in the above mentioned countries successfully.

Mr. Ahmad Abdullah, the country head of AlHuda CIBE Uganda, has said that the initiation of AlHuda CIBE setup in Uganda enjoys welcomeness and it will improve Islamic Banking in the country. He said that there is an enormous demand of Islamic Banking and Finance in Uganda. Moreover, the central bank of Uganda spreads red carpet for Islamic banking in the country.

It’s worth mentioning that AlHuda CIBE is a prominent brand name in the field of Islamic banking and finance for Advisory, Consultancy & Training. Furthermore, it has been proffering its services in South Asia, Central Asia, Middle East and Europe’s more than 20 countries for the last 8 years.
Halal Research Council expand its international network
25-02-13
(Lahore) To meet the needs of awareness & promotion of Halal Industry Worldwide, Halal Research Council adds five new strategic partners to its network by signing an agreements with them in January 2013, so that, the concept of Halal and Halal food requirements to be fulfilled effectively. Halal Research council’s new strategic partners include Islamic Development & Research Academy (Belgium), Kenya bureau of Halal certification (Kenya), Halal Tech (Iran), Rangoon Consultancy (Pakistan) and Islamic Information & Documentation Center (Austria). The purpose behind strategic partnership is to take international Halal industry in confidence for the promoting Pakistan’s Halal market & industries. It should be noted that world’s Halal product is worth 2.3 trillion Dollars. As Pakistan is an agricultural country and due to its excellent livestock and 100% Halal products, it has an opportunity to be introduced as a Halal products leader, through which its foreign exchange can be increased by minimizing the trade deficit of Pakistan, which is the basic need of time right now.

M. Zubair Mughal- Chief Executive Officer of Halal Research Council said that Allah Almighty has given Pakistan a unique status in the world because of its strong Shariah principles. Pakistan is the only country where 100% Halal products are available and due to this Pakistan's Halal industry has achieved an illustrious position in the world market. By taking its full advantage, we can Export Pakistani products with Halal logo to world's 2.3 trillion Dollars worth market. Halal Research Council has played a prominent role for the promotion of Halal industry. In the continuation of its services and taking a step forward, it will be arranging a conference on "Halal Tourism" in the near future. So that Muslims from different countries can get the understanding and awareness about Halal Tourism industry. He also said that Halal Research Council is the only institution of Pakistan whose Halal services are simultaneously available in 20 countries. He stated that Halal Research Council's strategic partnership network comprises on institutions from America, Bangladesh, Mauritius, Kyrgyzstan, Italy, Philippines, Brazil, Germany, India and Pakistan. This year they had welcomed institutions from four new countries i.e. Kenya, Australia, Belgium and Iran; which is an honor for Pakistan. The main aim of this strategic partnership is to promote the online Distance Learning Program on Halal Industry. So that, Professionals of Halal and Food Industries get benefit from this diploma.
Initiation of “Takaful Consultancy Wing” for the advancement of Takaful
Takaful industry is thriving globally; its market size reaches 12 billion US$
15th Feb, 2013
(Lahore- Pakistan) Islamic insurance (Takaful) is flourishing all around the world alongside Islamic Banking. Its global market size has reached 12 billion USD whereas the number of Islamic Takaful institutions has exceeded to 350. These views were expressed by Muhammad Zubair Mughal, the Chief Executive Officer of AlHuda Centre of Islamic Banking and Economics (CIBE) at the inauguration of AlHuda CIBE's subsidiary "Takaful Consultancy Wing". The inaugurated was held by Justice (r) Khalil Ur Rehman, Shai'ah Advisory of AlBarkah Bank in the ceremony organized at the head office of AlHuda Centre of Islamic Banking and Economics. Captain Jamil Akhtar Khan, Ex Chief Executive Officer, Takaful Pakistan, Abdul Samad, the Shari'ah Advisory Bank of Khyber and other prominent personnel of Islamic banking industry attended the ceremony.

Muhammad Zubair Mughal said that though Takaful industry is prospering in the recent times; however it's also facing certain challenges which include: issues regarding re-Takaful, regulatory challenges, competition and lack of human capital. These issues can be resolved by employing effective strategies and through proper planning. Unfortunately, there is not a single institution in the world which can provide guidance to Takaful industry on the above mentioned issues. Hence, to overcome all these challenges and issues of Takaful industry, AlHuda CIBE established a Takaful Consultancy Wing. Its principle consultant will be Captain Jamil Akhtar Khan who is a renowned and notable personality of Takaful industry. He has the expertise on Takaful regulatory issues, establishment of Takaful companies and other related departments.

Captain Jamil Akhtar Khan said that Takaful Consultancy Wing will be an independent institution which will provide its services to other organizations for the establishment of new Takaful companies, research, advisory, training, re-Takaful, Shariah guidance and other Takaful related matters. It will be a distinguished institution because of its services. Justice (r) Khalil Ur Rehman said that Takaful industry was in need of such institution from a long time, so that services related to Takaful industry can be provided internationally in an efficacious way. He also said that Islamic banking and Takaful are interdependent; hence in order to strength the Islamic banking industry, Takaful industry has to be strengthened as well. He was confident that AlHuda will play a vital role in this regard.
First Initiative to launch Islamic Banking in Uzbekistan
Hamkor Bank advancing towards Islamic Banking, AlHuda CIBE appointed as Advisor
12th February, 2013
(Lahore - Pakistan) Uzbekistan is an important Central Asian country with a population of 30 million; out of them 96% population is Muslims. It is not only enriched with gas, oil and other natural resources but, along with this, it has been the center of knowledge and Islam for a long time. It was through Uzbekistan that Islam paved its way to the sub-continent (Presently: Afghanistan, Pakistan, Bangladesh and India). Moreover, two famous Muhaddis; Imam Bukhari and Imam Tirmizi are also enshrined here. Uzbekistan's cities Bukhara, Samarkand and Tashkent remained the hub of Muslim civilization's knowledge and skills for an extended period of time and the whole world benefited from their skills and knowledge.

Muhammad Zubair Mughal, Chief Executive Officer of AlHuda Centre of Islamic Banking and Economics met with Ikram Ibragimov, the chairman of supervisory board of Hamkor Bank in Uzbekistan's capital, Tashkent. During the meeting, they had a detailed discussion on affairs of their mutual interest for the advancement of Islamic banking in Uzbekistan. According to Mr. Ikram Ibragimov, Hamkor Bank is the only bank is Uzbekistan which is working in collaboration with international organization e.g World Bank, Islamic Development Bank, Asian Development Bank, European Bank, KFW, Triple Jump and others. He stated "We are happy to announce that AlHuda CIBE Pakistan will be our Advisor for Islamic Banking. They will provide us Consultancy, Shariah Advisory and Human Capital Development in this field so that Islamic banking can be initiated in Uzbekistan with sound foundations." Furthermore, he said that their bank has a wide network in Uzbekistan through which they wish to render the services of Islamic Banking.

Mr. Muhammad Zubair Mughal said that it is an honor for AlHuda CIBE to provide professional services for the commencement of Islamic banking in Uzbekistan. He mentioned that Uzbekistan will prove to be a large market for Islamic banking in near future and there is a huge potential for other Central Asian countries to benefit from it as well. He thanked Mr. Ikram Ibragimov for choosing AlHuda CIBE for this purpose. A three-member delegation of AlHuda CIBE team will strengthen the human capital of Humkor Bank towards Islamic Banking at their office from this week for properly initiate assignment.

It should be noted that Hamkor Bank is a part of a large financial group of Uzbekistan. The group comprises of a bank, insurance company, 4 leasing companies and other institutions.
AlHuda CIBE will conduct a research study for Islamic Microfinance in Azerbaijan
Agreement signed between AlHuda Pakistan and Vision Fund AzerCredit Azerbaijan in Baku.
28th January, 2013
(Baku- Azerbaijan) An agreement for the advancement of Islamic microfinance was signed between AlHuda Centre of Islamic Banking and Economics and Vision Fund AzerCredit in a splendid ceremony at the capital of Azerbaijan, Baku. According to the agreement, AlHuda CIBE will conduct market research in different cities of Azerbaijan including Baku to formally initiate Islamic microfinance in Azerbaijan. Mr. Zubair Mughal, Chief Executive Officer, of AlHuda Centre of Islamic Banking and Economics and Mr. Sameer Jaffer Ali, Deputy Chairman Board of Directors, of Vision Fund AzerCredit signed the agreement.

While addressing the agreement ceremony, Mr. Sameer Jaffer Ali said that this agreement is a milestone for the foundation of Islamic microfinance in Azerbaijan. It will lead to the commencement of micro and SME finances based on Islamic principles. He said that Azerbaijan is a country with 99% Muslim population and its people have been waiting for Islamic finance for quite a long time. This agreement is the first step towards fulfilling their financial needs according to Islamic principles. He said that through research reports we will get the realistic and pragmatic information on Islamic finance’s requirement in Azerbaijan, keeping in view public needs and demands, Vision Fund AzerCredit will introduce Islamic Microfinance products in the Azerbaijan market.

Muhammad Zubair Mughal, Chief Executive Officer, of AlHuda Centre of Islamic Banking and Economics, while addressing the ceremony said that Azerbaijan will prove to be a good market for Islamic finance products as there is a high public demands for these products and it will further increase in the coming days. He, referring to his research in the different cities of Azerbaijan (Goycey, Sabirabad, Mislli etc.), said that there is very high demand of Islamic finances in rural and semi-urban areas and people were happy and excited when they learned about Islamic microfinance. Moreover, he said that legal and revolutionary amendments are required for the advancement of Islamic finances in Azerbaijan. It’s hoped that in coming days this issue will be sorted and Islamic retail banking will start in an effective manner. Approximately 10 Islamic finance institutions, including one government bank, are providing Islamic finance facilities at corporate level, which is a luminous illustration of Islamic banking and finance in Azerbaijan.

It should be noted that AzerCredit is the second largest microfinance institution in Azerbaijan, which is providing its services in 18 regions of the country through its network of 56 branches. AlHuda CIBE is a Pakistani organization which is performing Islamic finance research services in difference countries. Particularly for the progress of Islamic microfinance, it established a specialized Department, AlHuda Centre of Excellence in Islamic Microfinance, which is providing its services for the development of Islamic Microfinance Globally.
MFI’s from 27 Countries unified for the development of Islamic Microfinance
Global Islamic Microfinance Forum concluded in UAE with a unanimous declaration to work together for the advancement of Islamic Microfinance globally.
December 12, 2012
(Dubai – UAE) Three-day “Global Islamic Microfinance Forum” was organized on 8th-10th December 2012, in Dubai World Trade Centre, UAE. The delegates from UAE, Pakistan, India, UK, Bangladesh, USA, UK Bahrain, Yemen, Azerbaijan, Turkmenistan, Kirghizstan, Mauritius, Kenya, Canada, France, Egypt, Philippine, Uganda, Iraq, Nigeria, Sudan along with delegates from other countries participated in the Forum.

The salient topics discussed at the conference included bringing together the Islamic Microfinance Institutions on a single platform, role of Islamic Microfinance in poverty alleviation, Shariah and related issues of Islamic Microfinance Institutions and their solutions, Outreach of Al Huda Centre for Excellence in Islamic Microfinance to different countries and dissemination of Qarz-e-Hasna Model of Akhuwat. Representatives from microfinance institutions from 27 countries expressed their intent to unify their efforts for poverty alleviation and social development through Islamic Microfinance.

Speaking on the successful completion of the forum, Zubair Mughal – Chief Executive Officer AlHuda Centre of Islamic Banking and Economics highlighted that the assemblage of a large number of institutions on the forum of Islamic Microfinance is a clear indication that it is the only viable solution of poverty alleviation around the globe. He urged the World Bank, IDB, USAID, IFC and other international institutions to include Islamic Microfinance in their priority list for social development and poverty eradication; otherwise the achievement of Millennium Development Goals of the United Nations will not be possible.

While addressing the conference, Dr. Amjad Saqib (Executive Director – Akhuwat) declared that Islamic Microfinance Network will be spread all around the world; a specialist Shariah Supervisory Committee will be setup to cope with the Shariah challenges encountered by Islamic Microfinance Institutions. He further stated that the "3rd Global Islamic Microfinance Forum" will be organized by Al Huda CIBE in November, 2013.

Al Huda CIBE hosted the said forum in Dubai with the joint effort of Akhuwat, in which internationally well-renowned speakers addressed the participants. The key-note speakers Justice Khalil ur Rehman, Shariah Advisor – AlBaraka Bank Limited, Mr. Kavilash Chawla MD, Nur Global Strategies- U.S.A, Mahesh Jayanarayan, Chairman UMEX Market Group Ltd-UK, Zaigham Mehmood Rizvi,Expert Consultant on Housing and Housing Finance-World Bank - Washington – U.S.A, Dr. Amjad Saqib, Executive Director - Akhuwat –Pakistan, Pervez Nasim Chairmen Ansar Financial and Development Corporation Canada, Syed Hussain Haider Senior Consultant - Govt of Punjab & Akhuwat, Ms. Katrin Fakiri MD (MISFA)–Afghanistan, Gulnora Yakubova, Operation Director, LLCMDO “ARVAND”-Tajikistan, Md. Ariful Islam, International Programmes Muslim Aid–Bangladesh, Humaiyun Saeed Jamshed, Senior Director (Marketing) SAB International FZ,UAE, Raffick Nabee Mohomed Founder & Secretary, Al Baraka Multi-purpose Co-operative Society Ltd,Mauritius, John D. Harwood, Canada, Aziz Ur Rehman Manager Shariah, Mawarid (Finance) UAE, Mohamed El

Mehdi Zidan, Director Baraka Editions-France. Dr. Tariq Cheema CEO World Congress of Muslim Philanthropists - U.S.A and others presented their research papers on Islamic Microfinance to enrich the knowledge of the participants.
Islamic Microfinance has Solution of all the Issues Related to Poverty: Zubair Mughal
International Conference on Microfinance held in Indonesia; President of Indonesia, Dr. M. Yunus and International Experts Participated
30-10-2012
Poverty has become a global problem. Due to the current Global Financial Crisis, even the Developed countries of world are also trying to fight against poverty whereas the solution of all the problems and issues related to poverty lies in Islamic Microfinance. These thoughts were expressed by the Chief Executive Officer of AlHuda Centre of Islamic Banking and Economics, Mr. Zubair Mughal in an International Microfinance Conference which was held in Yogyakarta, the city of Indonesia. The Conference was jointly organized by Government of Indonesia and World Bank. Delegates and experts from 30 different countries including Dr. Susilo Bambang Yudhoyono - President of Indonesia, Noble Prize Winner Dr. Muhammad Yunus - Founder Grameen Bank, Dr. Larry Reed – Director of Global Microcredit Summit Campaign, Mayada El. Zoghbhi – World Bank and 600 people participated in the conference.

Conference was inaugurated by the President of Indonesia – Dr. Susilo Bambang Yudhoyono whereas Ministers, Governors, Parliamentarians and Ambassadors of Indonesia have also participated in the conference. In the inaugural speech, President of Indonesia has declared Microfinance as an effective strategy for the eradication of poverty and by using this source; poverty has decreased in many countries including Indonesia. While addressing to the ceremony, Dr. Muhammad Yunus explained that how Grameen Bank started social work for reducing poverty and fulfilled the needs of poor people by starting the social work instead of Charity and met their financial needs by giving them small loans and now finally they are useful civilians of society.

Government of Indonesia has specially invited Mr. Muhammad Zubair Mughal to speak on the topic of Islamic Microfinance. During his address, he said that recent research has proved that Islamic Microfinance is a good alternative for eradication of poverty from which both Muslims and Non- Muslims can get benefits. He further said that in order to provide Islamic Microfinance to poor people, one should firstly determine the level of poverty of the poor so that relevant products of Islamic Microfinance may be used to remove the poverty. He said that the people living in the underneath of poverty should be given products like Zakah Ushar, Sadqah so that they could come to the next level whereas the poor falling in the middle level of poverty should be given products like Musharakha, Mudarbah and Murabaha and poor living in the last stage of poverty must also be given Salam and Istisna in addition to Murabah and once poor crosses the line of poverty, they should be given the facility of Microtakaful (Islamic Insurance) for safety net so that they may not return to the darkness of poverty.

International experts and the audience of the conference highly appreciated Islamic Microfinance as a best solution for poverty alleviation and Mr. Muhammad Yunus has appreciated the efforts of Mr. Zubair Mughal for the promotion of Islamic Microfinance.
Islamic Microfinance is a Good Alternative for the Alleviation of Poverty from the World: Zubair Mughal
Conventional Microfinance has failed for the Alleviation of Poverty; a Ceremony has been arranged on the World’s Poverty Day
17/10/2012
(Pakistan) A seminar relevant to the world’s Poverty day has been arranged in Lahore – Pakistan to discuss the global issues of poverty and its solutions. The seminar was organized by AlHuda Centre of Islamic Banking and Economics in which huge number of people participated from Microfinance, Islamic Microfinance and Banking sector. Different topics like issues related to poverty, current situation of poverty, socio-economic issues due to poverty and the strategies for the solution of all these issues were discussed. The facts and figures presented in the seminar made the point clear that poverty in the world is increasing day by day which shows that the conventional microfinance has been failed for the development of proper strategy for addressing the issues & solutions of poverty. In this regard, there is a need to design an alternative strategy for alleviation of poverty for the provision of several facilities like Socio-economic harmony, health facilities, education and basic rights etc. by dipping the poverty so that psychological trends, deprivation, unemployment, terrorism and other problems could be resolved which are either directly or indirectly related to Poverty.

While addressing to the seminar, Chief Executive officer of AlHuda Centre of Islamic Banking and Economics, Mr. Zubair Mughal said that poverty is not only the problem of Pakistan but a global issue. In fact, the declaration of Millennium Development Goals (MDGs) by United Nations to cut down the poverty to half till 2015 seems unachievable because the poverty is continuously increasing. He said that one of the major reasons of no reduction in poverty is to follow wrong strategies. He further said that it is an alarming situation that poverty is continuously increasing in Muslim World and 46% of world’s poverty exists in Muslim countries and almost one-half of the 56 IDB member countries in Asia and Africa are classed as Least Developed Countries (LDCs) by United Nations. He further added that basic reason of poverty in Muslim Countries is that Muslims around the world avoid Conventional Microfinance due to the factor of interest and remain wedged in poverty so Islamic Microfinance can be utilized to eliminate the poverty from Muslim countries. It must be noted that by using Islamic Microfinance, Muslim and Non-Muslim countries can get rid of poverty. Latest research has proved that Islamic Microfinance has more qualities than conventional microfinance.
The Global Islamic Microfinance Forum will be held in U.A.E
The Forum will determine the Standards and policies for sustainable Islamic Microfinance development.
05/09/2012
(Pakistan) The Global Islamic Microfinance Forum on Islamic Microfinance is going to be held in U.A.E on 8th December, 2012 in which the delegates of more than 30 countries are expected. The purpose of Forum is to introduce Islamic Microfinance in the global canvas as an effective tool for poverty alleviation and Social development, to set its standards, to develop Islamic Microfinance internationally and to have dialogue with International Donor/Development agencies for sustainable development. Two days specialized workshop is been arranged after the forum in which the Shari’ah standards and marketing strategies of Islamic Microfinance will be discussed. It should be noted that this forum is being jointly arranged by AlHuda Centre of Islamic Banking and Economics ( CIBE ) and Akhuwat. Akhuwat is a Pakistan based institute which has been distributed 2.5 Billion PKR amongst 177,000 families via Islamic Microfinance.

Executive Director of Akhuwat, Mr. Amjad Saqib said that through this Forum, Islamic Microfinance will be introduced as a sustainable system around the world so that Islamic Microfinance could be properly utilized in order to take the world out of the darkness of poverty.

While briefing about the purpose and aims of this Forum, Chief Executive Officer of AlHuda Centre of Islamic Banking and Economics, Mr. Muhammad Zubair Mughal said that poverty is going up due to the failure of present microfinance system whereas in order to solve this problem, whole world is looking towards Islamic Microfinance. He said that if Islamic Microfinance would not be included in the strategies for alleviating poverty then the achievement of Millennium Development Goals (MDGs) of United Nations would become so difficult because Muslims are 46% of World’s total poverty and United Nations has added 26 countries from the 57 Countries of OIC among the Least Developed Countries. So, Islamic Microfinance is mandatory in order to alleviate poverty from the Muslim Countries because Muslims avoid Conventional Microfinance due to the factor of interest, as Interest is strictly prohibited in Islamic that’s way Interest is an important reason for the poverty in Muslim Countries. It is worth to mentioning that Islamic Microfinance is a system, it is not a religion, I can be utilized/operated by Muslims or Non-Muslims for social development & poverty alleviation.

He further said that now the time has come that the International Organization like UN, ADB, IFC, USAID, GIZ, DIFD, and IFAD etc. play their role to alleviate poverty from the world by including Islamic Microfinance in the strategies to reduce poverty. He said that Islamic Microfinance has more characteristics to alleviate poverty in comparison with Conventional Microfinance and it can be easily integrated with all the models of Microfinance like Grameen Model, Village banking Model, co- operative Model and Self Help Group Model etc. So in order to introduce Islamic Microfinance in the world, very fewer changes would be needed to make in Microfinance industry.

Forum shall last for 3 days, at the end of which, a declaration will be issued.
Yemen will Host an International Workshop on Islamic Microfinance
Workshop is being jointly organized by Yemen Microfinance Network and AlHuda Centre of Islamic Banking and Economics, Pakistan
28/08/2012
(Pakistan) Islamic Microfinance is getting appreciation by the whole world for alleviation of poverty and Muslim and non-Muslim Countries are utilizing it. Microfinance Institutions in Arab Countries are also providing Microfinance to Muslims which is in accordance with Islamic standards in order to get poor out of obscurity of poverty. Amongst these Arab Countries, Yemen is at the top of the list with other countries like Iraq, Syria, Jordan and Egypt.

Due to the escalating popularity of Islamic Microfinance in Arab countries with the intention to increase the reach of Microfinance Institutions, AlHuda Centre of Islamic Banking and Finance and Yemen Microfinance Network is going to arrange 2 days training workshop on Islamic Microfinance on 16th & 17th September, 2012 to be held in the Capital City of Yemen - Sana’a, in which different topics like the proper utilization of Islamic Microfinance for alleviation of poverty in poor countries, Islamic Microfinance Products and their structure, Shari’ah principles of Microfinance and MicroTakaful would be discussed.

The Chairman of Yemen Microfinance Network, Mr. Mohammed Al Lai has declared the arrangement of this two days international workshop on Islamic Microfinance, a good step for the Microfinance sector. He said that Islamic Microfinance is rapidly growing in Yemen and the workshop like this will provide more awareness about it.

Chief Executive Officer of AlHuda Centre of Islamic Banking and Economics, Mr. Muhammad Zubair Mughal has said that AlHuda has established a separate department for the promotion of Islamic Microfinance, named as “Centre of Excellence in Islamic Microfinance” so that awareness, consultancy and training could be provided to the Microfinance Institutions and in this regard, during this year, workshops will be arranged in Yemen, Azerbaijan, Nigeria, Kazakhstan, Indonesia and Niger. He further said that the purpose of this training in Yemen is to make Arab countries aware of the importance and benefits of Islamic Microfinance which is in accordance with the religious beliefs of Arab Countries because in Arab Countries, people avoid conventional microfinance due to the factor of interest and remain stuck in poverty. So, Islamic Microfinance is very much needed to alleviate poverty in Arab countries. It should be noted that in spite of abundant oil and natural resources in Arab regions, some Arab countries are having poverty in them like 23% people in Iraq, 18% in Iran, 34.8% in Yemen, 13.3% in Jordan, 12.5% in UAE, 28% in Lebanon and 11.9% in Syria are living under the poverty line.
Central Asian and African Countries are the New Destinations of Islamic Finance: Zubair Mughal
Islamic Banking and Financial Industry Lacks Better Human Resources
29/06/2012
Muhammad Zubair Mughal, CEO, AlHuda CIBE is speaking at The First International Forum on Islamic Banks and Financial Institutions, at Jordan.
The First International Forum of Islamic Banks and Financial Institutions held under the patronage of His Excellency, Dr. Fayez al-Tarawneh– Prime Minister of Jordan has come to end today in Amman; the Capital city of Jordan. The Forum was jointly organized by General Council of Islamic Banks and Financial Institutions - Bahrain and Strategy - Jordan. In this forum, different topics like Emerging trends of Islamic Banking in Arab Countries, Legal and Taxation matters of Islamic banking, Role of International Institutes in Islamic Banking and finance and Importance of Education and awareness of Takaful and Islamic banking etc. were discussed. A good number of Experts & Professionals from different countries like Pakistan, Malaysia, Palestine, Indonesia, Bahrain, UAE, Qatar, Saudi Arabia etc. participated in this mega forum.

While addressing to the concluding session, Chief Executive Officer of AlHuda Centre of Islamic Banking and Economics, Mr. Muhammad Zubair Mughal said that presently, Islamic banking is growing at a very rapid pace and the Central Asian Countries (Kazakhstan, Afghanistan, Tajikistan, Uzbekistan, Kyrgyzstan, Azerbaijan) and African Countries (Nigeria, Tanzania, Kenya, Ghana, Tunisia, Senegal etc) are its new destinations of Islamic Banking and Finance where the rapid increase in the demand of Islamic banking is being observed and majority of these countries are providing shield to Islamic banking and finance industry by bringing alterations in Laws through parliaments.

While presenting the review of present Islamic Finance Industry, he said that the market of Islamic finance has reached to $1.3 Trillion, in which the share of Islamic banking is 77% ($1 Trillion), share of Sukuk is 14% ($180 Billion), share of Islamic Funds is 5% ($64 Billion) and share of takaful is 1% ($12 Billion) whereas the share of other Islamic financial products like Islamic Leasing, Mudarabah Companies, Islamic Microfinance and Islamic REITs is 3% ($44 Billion). He said that in comparison with the rate of growth of Islamic Banking; the Islamic banking graduates are not being produced accordingly due to which there is a lack of supply of Man Power than the demand of Islamic Banking and finance which should be resolved immediately. He said that not only new Experts of Islamic banking and finance should be produced to be utilized in the emerging market of Islamic banking and finance but the non-qualified personnel in Islamic banking and staff of conventional banks should be changed into Islamic Financial experts so that Islamic banking could be run by qualified Islamic bankers.

He further said that Islamic banking and Finance should not be only for well-off, Business personnel or middle class but its benefits should also be disseminated to poor through Islamic Microfinance so that they could get rid of poverty and live their lives respectfully through proper employment.
 
Halal Accreditation will Introduce Pakistani Products around the Globe
The Role of Pakistan National Accreditation Council (PNAC), in this regard is commendable which will help in the growth of Halal Exports:  Zubair Mughal
07/02/2012
(Lahore) The step of introducing Halal Accreditation Scheme by Pakistan National Accreditation Council (PNAC), Federal Ministry for Science and Technology is commendable which will help introducing Pakistani Halal products globally hence will increase the exports as well. These words were expressed by Mr. Muhammad Zubair Mughal, Chief Executive Officer – Halal Research Council in a seminar on the topic of Halal in Lahore. He said that due to non availability of Halal accreditation in Pakistan, Pakistan’s Halal Certification Agencies were facing many difficulties at national and international level. He said that despite this fact that Pakistan is facing different international propagandas, there is a positive side that Pakistan’s Religious prestige and authenticity is endorsed and highly recognized all around the world and international communities gives vital importance to products certified & Exported by Pakistan along with the Halal label.

He said that this accreditation will not only help Pakistan to increase the exports of Halal food, meat, dairy products, chemical beverages and spices but also would help to promote the non food products like Halal Cosmetics, Chemicals, gelatin, pharmaceuticals and Halal Tourism. He further added that Pakistan Standard and Quality Control Authority have issued two standards, PS: 4992–2010 and PS: 3733–2010 in which PS: 3733-2010 relates to management and procedure of Halal food for Halal Food industry whereas PS: 4992-2010 is related to general procedure of Halal Certification Institutions.

He said that Halal Research Council is a registered institute under Joint Stock Company Act, 1860 which primarily works for Halal Certifications, Research & Education, Training, Advisory and Consultancy whereas its strategic partners are providing the services of Halal certification in Malaysia, Italy, UK, Philippine and Mauritius.
 
An Agreement for a Halal Industrial Park between Halal Research Council and FIEDMC
Formal Annoucement to Establish the M3 Halal Industrial Park in Pakistan for the Development of Halal Industry.
August 17, 2011
(Lahore) An MOU ceremony between Halal Reserch Concil (HRC) and Faisalabad Industrial Estate Development (FIEDMC) was held at the Head office of FIEDMC, Faislaabd. The MOU was signed by Mr. Muhammad Zubair Mughal Chief Executive Office of Halal Research Counicl and Khawaja Asim Khursheed, Chairman FIEDMC. Additionally, Mr. Hamid Sheikh Seceretry Livestock and Dairy Development Govt. of Punjab, Naseeb Saifi chairman Halal Meat Export Committee, Brigadier Ahmad Raza Siddique COO, FIEDMC Amir Saleemi Head of Marketing and Sales, Syed Zubair Qutab Manager Strategic Planning Halal Research Council and the Board Members of FIEDMC and a number of industrialists attended the ceremony. Under the MOU, Halal Research Counicl will provide guidance regarding technical, halal certification, training and international communication to the M3 Halal Industrial Estate in Faisalabad.

While addressing, Khawaja Asim Khurheed Chairman FIEDMC declared the MOU as an important breakthrough for the Halal Industrial Park. He officially annouced the M3 Halal Industrial Park in Pakistan situated at M3 motorway. This developed Industrial Estate has facilities of modern roads, Power stations, modern Sewearge system, Fire brigade, Run way, Helipad, Labour colony etc. Furthermore, he stated that Halal Industrial Park will help Pakistan’s Food, Livestock and Meat market to flourish and will also provide with good export market.

Mr. Hamid Yaqoob Sheikh (Secretry Livestock and Dairy Development) said that Halal Park has given a value addiation to the Pakistan’s Halal Meat. He further added that Govt. of Punjab is continously working for the developemnt of Halal Industry and in this regard a brief action plan is in process.

While adressing at the occassion, Muhammad Zubair Mughal Chief Executive Officer Halal Research Council stated that Halal edible products are gaining popularity rapidly. The market for Halal food is not only limited to 1.9 Billion Muslims but it is also liked by the Non-Muslims who believed Halal Food as hygenic, pure and a best food product. He enlightened the importance of Pakistan’s First Halal Park by giving the brief analysis of Halal Parks of Malaysis, Yamin, Middle-East, U.K. and Russia. He argued that geographically it is located at key strategic location and from here we can easliy export Halal Products to Middle East, Africa, Far East and Europe. This will help to flourish the Industrail sector of Pakistan and thereby decresing the Trade defict of country.
 
MoU Signing Between Halal Research Council Pakistan and Halal Council of Mauritius
Enough Room Available for Halal Market between Both Countries: Muhammad Siddiqueh, High Commissioner for Pakistan in Mauritius
April 26, 2011
(Lahore) The MoU is signed between Halal Research Council and Halal Council, Jummah Mosque of Mauritius for the promotion of Halal industry, research and education and for the export of Halal goods to Mauritius. The momentous signing ceremony was held in Quartre Borne Mauritius and Mr. Zubair Mughal Chief Executive Officer, Halal Research Council and Nisar Ahmed Ramtoola President, Jummah Mosque, Mauritius signed the MoU. Major General (Retd.) Muhammad Siddique,  High Commissioner for Pakistan, Cassam Uteem Ex-President, Mauritius, Muhammad Shakeel, Minister of Labor and Industrial Relations Mauritius, Iqbal Belath Governor, Bank of Mauritius, Sunil Benimadhu, Chief Executive, Stock Exchange of Mauritius, Raffick Nabee Mohammad, AlBarakah, MPCS and well known personalities and many others participated in this ceremony.

Major General (Retd.) Muhammad Saiddique- Commissioner for Pakistan while addressing the audience said that there is enough room available for the Halal market promotion between Pakistan and Mauritius and Pakistan can play a vital role in the development of this Halal industry. He added that the volume of Halal market is 2.3 Trillion Dollars at this moment which includes Halal food, Halal banking and finance, Halal tourism, Halal cosmetics and Halal logistics etc. He said that there are deep friendly relations found between both countries and Pakistan is providing resources in the fields of education, banking etc to Mauritius.

Muh. Zubair Mughal, Chief executive Officer, Halal Research Council, Pakistan said that it will provide excess to Pakistan Halal goods in Mauritius markets which include Halal  meat, grains, Halal spices juices and many other goods. He further said that there are ample opportunities available for Halal tourism in Mauritius. Nissar Ahmed Ramtoola President, Jummah Mosque, Mauritius appreciated this MoU and both countries will utilize the opportunities of the development of Halal industry.

It is to be noted that Jummah Mosque, Mauritius is a historical mosque of the country that was built in 1850 and 125 mosques of Mauritius are directly affiliated with it that is working for the promotion of Islam in the country.
 
MoU signed Between Halal Research Council and Malaysia

The ceremony held during International Conference on Halal Industry at Expo Centre Lahore and Zubair Mughal, CEO, Halal Research Council Pakistan and Haji Abdul Malik Kassim, State Minister for Religious Affairs & Domestic Trade Penang- Malaysia

Lahore (Press Release) “International Conference on Halal Industry” was organized today at Expo Centre, Lahore – Pakistan. The conference was inaugurated by Haji Abdul Malik Kassim, State Minister for Religious Affairs, Domestic Trade & Consumer Affair Penang Govt.- Malaysia in which speakers and researchers from America, Australia, U.A.E., Romania, U.K. and South Africa participated to deliver their valuable knowledge& Research about Halal Industry. The point of interest was the MoU signing ceremony between Halal research Council and Malaysia for the promotion of Halal industry, the establishment of Halal Industrial Park, the easy availability of Pakistani Halal products in Malaysian market and the exhibition of Pakistani Halal certified products in Malaysian market.

Addressing to the audience, Haji Abdul Malik Kassim, Religious Affairs, Domestic Trade & Consumer Affair Penang Govt.- Malaysia said that the MoU signing is a very significant occasion. He further added that Halal food market is very rapidly increasing market and Malaysia is playing a momentous role in this regard. During the occasion, Muhammad Zubair Mughal, Chief executive Office, Halal Research Council, Pakistan said that the MoU will prove to be a bridge between Pakistan and Malaysian market through which we will be able to brand our products on International platforms. He said that the main purpose of this conference is to introduce Pakistan among international market so that it could play its technical & Shariah role in this highly distinguished market of more that one trillion dollars worth.

Many national and international speakers delivered their valuable research works and speeches on this international conference in which Haji Bill Yahya Ibrahim Aossey, Founder and Senior Director, Regional Representative Islamic services Of America America, Engr. Shaukat Hussain, Director General, Pakistan National Accreditation Council (PNAC), Islamabad, Pakistan. Mr. Alaa Kamal, Regional Representative, Of Islamic Service of America Dubai, Dr Muhammad M Khan, Food Technologist, (Canada), Executive Director, Halal Australia Halal Consultant Australia, Mr.Dorin Ecea, Development of the Halal Industrial Park, Halal Assets Council in Romania, Romania, Haji Abdul Malik Kassim, Minster of Religious Affairs, Penang- Malaysia, Mr.Hamid Ahmad, Halal Slaughter and Animal Welfare, Ex-Principal Scientific Officer, Biotech. and Food Research Centre, Pakistan Council of Scientific & Industrial Research (PCSIR), Lahore, Dr.Hamid Talil, Chief Executive officer, Lahore Meat Company, Lahore, Dr.Shazad Afzal, Director, Pakistan Standards & Quality Control Authority, Ministry of Science & Technology, Government of Pakistan, Lahore, Dr. Zubair Usmani, Shariah Advisor, MCB Limited. Pakistan, Capt. M. Jamil Akhtar Khan, Managing Director, Universal Insurance Company, Mr.Raheel Iqbal, Chief Executive Officer, Halal Industry Research Centre, Karachi-Pakistan. Prof. Dr. Faqir M. Anjum, Director General, National Institute of Food Science and Technology, University of Agriculture, Faisalabad- Pakistan, Prof. Dr. Javaid A Awan, Country Director, Islamic Food & Nutrition Council of America, Dr .Shahid Raza, Chairman, Bio world Forum. Pakistan, Mr. Mashood Ahmed Siddiqui, Manager products, Vectra foods, Karachi-Pakistan, Dr. Muhammad Jamil Khattak, Chairman Department of Microbiology & Biotechnology Kohat University, Pakistan and other speakers participated their thoughts on Halal Industry, Halal Food, Halal Tourism, Halal Slaughtering and Halal Banking etc. It is to note that Halal Research Council is an organization working nationally and internationally on Halal certification and accreditation, research and education.
 
International Road Show For the Development of Halal Industry
Main Purpose of This Road Show is to Take Pakistani Export to 2.3 Trillion Dollars’ Halal Market
January 03, 2011
(Lahore) Halal Research Council is pleased to organize a Road Show on Halal Industry starting from February 01, 2011. In the first phase of this road show, 150 seminars in different chambers of commerce, trade associations and industrial associations of Pakistan will be conducted for the awareness of Halal industry in the masses that will start on February 01, 2011 in Peshawar and will end up in Karachi on March 01, 2011. While in phase II, Halal research Council will hold awareness seminars on Halal industry in South Africa, Kenya, Afghanistan, Kazakhstan and Mauritius. The purpose of such awareness programs is to promote Halal industry in Pakistan and in the rest of the world. This Road Show will enable the easy access of the Pakistani Export products to 2.3 Trillion Dollars’ international Halal Market of more than 2 billion Muslims.

Mr. Muhammad Zubair Mughal, Chief Executive Officer, Halal Research Council highlighted two main purposes of organizing this road show. One is the easy access of the Pakistani Halal products to the international Halal markets while the second objective is to give accurate knowledge of the Halal industry to the Muslims. He further elaborated that the chemical ingredients used in the production of Muslim food has put aside the distinction of Halal and haram in the products and the labeling of E codes has drastically put people in ambiguity whether the product is Halal or haram. It is very astonishing that even in Pakistan several food products are imported in which the fats of pig and many other haram ingredients are used.

He added that it is quite disappointing that Pakistan has no access yet in the export of Halal products in international 2.3 trillion Halal markets. If we pay heed to this market then we can earn a handsome profitability through this market because Pakistan has a prominent place in Muslim world for its sound Islamic footings. He told that Halal market covers more than 100 products i.e. meat, dairy, spices, gee and oil, beverages, medicines, biscuits, snacks, cosmetics, herbal and leather etc.

This awareness road show has been given high appreciation nationally and internationally and it has got more than 50 national, international, government and non government organizational associations. Halal Research Council is working nationally and internationally for the certification of Halal products.
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