The world Halal economy, which was $4 trillion in 2017, has now reached $7 trillion, Turkey’s Vice President Fuat Oktay said Thursday during the 7th World Halal Summit organized together with the 8th Organization of Islamic Cooperation (OIC) Halal Summit.
Despite the COVID-19 pandemic, the summit featured over 60 speakers from over 20 nations and 400 firms from 35 countries operating in a variety of sectors, including food, cosmetics, medical, chemistry, textile, tourism, and technology, according to Oktay.
He added that certain products, particularly Halal food, are chosen primarily because they fit Islamic criteria; nonetheless, non-Muslims are interested in them for a variety of reasons, including health and cleanliness.
Without a doubt, this significant advancement is accompanied by significant challenges according to Amnah Shaari, Group CEO and Founder of Serunai Commerce Sdn Bhd in her presentation during the session on “Halal in Rapid Changing World”. She addressed the importance of Digital Halal Ecosystem. An ecosystem that is holistic, transparent, secure, and seamless Halal certification system. It ensures application, monitoring, as well as auditing, adhere to Halal certification requirements.
This wholesome technology is critical to avoid issues involving non-compliance of Halal standards and Shariah law such as Halal fraud. These fraudulent cases include contamination of Halal products with non-Halal substances. An example of the complication is when there is a presence of porcine genetic material in a product or the use of a fake Halal logo which may expose consumers to violation of Halal standards when production is operated in a non-hygienic environment for instance. These incidents negatively impact consumer confidence upon Halal products. Thus, impacting the trust in Halal integrity and brands.
“That is why incorporation between VH SMART™, CBMS™, HADIC™ and the Verify Halal™ app is essential to combat the issues” Amnah concluded.
Serunai Commerce Sdn Bhd was delighted and honoured to have Amnah Shaari, Group CEO and Founder, to speak as one of the panellists at one of the biggest Halal summits in the world. Serunai Commerce, through its smartphone app Verify Halal, was also named as one of the official media partners for the event, which was organised by Standards and Metrology Institute for Islamic Countries (SMIIC) along with the Discover Events on behalf of the Islamic Centre for Development of Trade (ICDT).
Serunai Commerce’s media ties and support continue to be critical in boosting global coverage of events, and it continues to develop bridges across countries and regions with its own Verify Halal app. Visit www.serunai.com to discover more about collaboration opportunities.
Tune in to watch the recorded session at https://youtu.be/wKC2-VwwReQ