by admin | May 25, 2021 | Halal Industries
Economic growth in the Islamic world gives more spending power to Muslim consumers
The importance of “halal travellers” grows globally and this segment of tourism, which has certain unique requirements, is expected to hit 150 million travellers with an estimated spending of $200 billion by 2020.
This was revealed by Amadeus at the Arabian Travel Market in a study called “Halal Travel 2016”. The research report gives an insight into the current needs and future expectations of this travel group.
Recent figures have shown that the halal tourism sector was valued at $145 billion in 2014, and is one of the fastest-growing travel segments in the world, growing at 4.8 per cent against the industry average of 3.8 per cent.
Economic growth in the Islamic world has given rise to a Muslim consumer who is, on average, younger, more educated and with a larger disposable income than before, giving rise to an increased propensity to international travel and holidays.
“Halal travellers are a demographic that represents a powerful opportunity. This is a group of individuals and families that have certain unique requirements of their destinations and travel service offering,” said Antoine Medawar, vice-president for the Middle East and North Africa at Amadeus.
The Amadeus-commissioned Halal Travel 2016 study uncovers some of the key areas that the industry can work with this segment on, as well as some of the additional offerings that will serve to enhance the customer’s travel experience, and thereby lead to higher spending.
The report on halal travellers highlights three core themes that span the key drivers of travel – cultural experiences, accommodation needs and activity preferences.
It says halal seekers plan their trip to maximise “cultural return on investment”. They often adopt a hyper-planning holiday mode and women have real influence in the travel experience, it added.
At their destination, halal travellers want to explore within their comfort zone. They have specific activity and excursion needs – in relation to transportation, praying facilities or dining.
Limited dining options are an issue for halal travellers – they want to have dining alternatives. Some of them want high end or gourmet options, but others want to be able to experience local cuisine in a Halal way.
They have special transportation needs at their destination – private drivers in particular appeal to husbands who are sometimes concerned about not looking an “expert” in a country and a private driver helps avoid this.
Other findings point to the influential role of women in the travel decision process, planning and some of the logistics; halal travellers wish to discover and unlock untapped destinations and a clear differentiation in travel preferences, depending on their kind of profile – comfort, explorer, core family, extended family, deal-seeker and simplicity-seeker.
Since halal travellers frequently originate from the Middle East region, there is a premium placed on human interaction, and travel agencies and tour operators and consultants play a key role in supporting the travel planning. The halal travellers’ motives and context need to be understood to create the right travel package, and this is particularly relevant when planning complex multi-destination trips. There is a clear preference for booking all travel, tours, and accommodation in advance, as families and groups do not favour the uncertainty of unplanned trips.
(Reference : http://www.khaleejtimes.com/ – abdulbasit@khaleejtimes.com)
by admin | May 25, 2021 | Muslim World
Dubai, (IINA) – The 11th annual World Takaful Conference (WTC) will be convened by leading financial intelligence platform, Middle East Global Advisors, in strategic partnership with the Dubai International Financial Centre (DIFC). Saudi Gazette reported.
WTC will take place on April 11-12, in Dusit Thani Hotel, Dubai. WTC 2016 will convene high profile guests and dignitaries from Dubai Islamic Economy Development Centre, Dubai International Financial Centre, Islamic Insurance Association of London, Insurance Authority UAE, PwC, Moody’s, EY, Swiss Re, Munich Re, Noor Takaful, Watania, Emirates RE, among others.
DIFC is the financial hub for the Middle East, Africa and South Asia, providing a world-class platform connecting the region’s markets with the economies of Europe, Asia and the Americas.
It also facilitates the growth in South-South trade and investment. An onshore, international financial center, DIFC provides a stable, mature and secure base for financial institutions to develop their wholesale businesses. The Centre offers all the elements found in the world’s most successful financial industry ecosystems, including an independent regulator, an independent judicial system with a common-law framework, a global financial exchange, inspiring architecture, powerful, enabling support services and a vibrant business community.
Speaking ahead of WTC, Chairman of Middle East Global Advisors, Ehsan Abbas said: “We are delighted to host the World Takaful Conference in strategic partnership with the DIFC Authority. For over a decade, WTC has generated powerful insights to spur industry growth in Dubai and indeed it is very fitting to have the DIFC as our partner, as well as to have the participation of luminaries from the Dubai Islamic Economy Development Centre and UAE Insurance Authority.”
On April 11, WTC will host keynote addresses by Abdulla Mohammed Al Awar, Chief Executive Officer, Dubai Islamic Economy Development Centre; Ebrahim Obaid Al Zaabi, Director General Insurance Authority; Salmaan Jaffrey, Chief Business Development Officer, Dubai International Financial Centre Authority; and Dave Matcham, Member of Executive Committee, Islamic Insurance Association of London.
Speaking on DIFC’s partnership with the WTC, Jaffery said: “With the Islamic finance industry registering a sustained momentum, the demand for takaful products has witnessed a proportionate year-on-year surge, gaining increasing popularity among people seeking Shariah-compliant insurance options.”
He added: “At the same time, it is crucial for policy makers and key stakeholders to address the challenges facing the industry in order to achieve the long-term sustainable growth of the Islamic economy. The WTC is the ideal thought leadership platform for engaging with decision-makers and delivering insights on the long-term development of the takaful industry.”
Jaffrey noted that the “DIFC is privileged to support the 11th WTC as a strategic partner. We will continue to articulate the vision of Vice President and Prime Minister of the UAE and Ruler of Dubai Sheikh Mohammed bin Rashid Al Maktoum, in making Dubai a global hub for Islamic finance. We look forward to engaging in productive discussions with industry leaders on current takaful trends, expected challenges and opportunities, and to facilitating actionable recommendations.”
by admin | May 25, 2021 | Muslim World
Abu Dhabi : (IANS/WAM) The United Arab Emirates and Finland have signed an agreement on the exchange of information for tax purposes between the two countries.
The agreement was signed by Younis Haji Al Khoori, undersecretary of the finance ministry, and Riitta Swan, Ambassador of Finland to the UAE.
Al Khoori stressed the importance of signing similar agreements as they play a significant role in strengthening the financial and economic cooperation between countries, ensuring justice for individual or company taxpayers and protecting the national economy.
“Signing this agreement with Finland is a continuation to the series of international agreements previously signed between both countries,” Al Khoori said.
UAE and Finland are associated by a joint committee based on economic, industrial and technical cooperation between the two countries. The two parties signed agreements for the avoidance of double taxation on income, and for protecting and encouraging investments in 1996.
The foreign trade between both countries amounted to 342 million UAE dirhams ($98 million) in 2015.
by admin | May 25, 2021 | Muslim World
New Delhi : (IANS) The union cabinet on Wednesday approved the MoU between India and the UAE signed on February 11, 2016, to mobilise long-term investment into the National Investment and Infrastructure Fund (NIIF), an official statement said here.
The objective of NIIF is to maximise economic impact mainly through infrastructure development in commercially viable projects, both greenfield and brownfield, including stalled projects. NIIF would solicit equity participation from strategic anchor partners.
The cabinet approved the creation of the National Investment and Infrastructure Fund (NIIF) in July 2015.
The joint statement with the United Arab Emirates (UAE) during the visit of Prime Minister Narendra Modi to the country on August 16-17, 2015, mentions the establishment of UAE-India Infrastructure Investment Fund, with the aim of reaching a target of $75 billion to support investment in India’s plans for rapid expansion of next generation infrastructure, especially in railways, ports, roads, airports and industrial corridors and parks.
“The MoU will help establish a transparent and high-level framework and collaboration platform under which both countries intend to explore ways to facilitate and expand the participation of UAE’s investment institutions in appropriate infrastructure projects and institutions in India including NIIF, in a manner consistent with the established investment criteria and standards in a mutually agreed manner,” the statement said.
by admin | May 25, 2021 | Muslim World
Hanan Al-Hroub, a Palestinian Primary School Teacher, reacts after Pope Francis named her recipient of the second annual Global Teacher Prize (Photo FB)
Dubai, (IINA) – A Palestinian woman, who works with those children who have grown up while being exposed to violence, was given the 2nd annual Global Teacher prize at a star-studded ceremony in Dubai, The Guardian reported.
The Duke of CambridgePrince William has paid tribute to the “incredible work” of the teaching profession as a Nobel-style award worth $1 million was handed to the Palestinian teacher Hanan al-Hroub.
Looking delighted as she was handed the award, Hroub said: “I did it, I won!”
In his video link, Prince William said he had been taught by “Some of the best teachers in the world”.
Hanan al-Hroub, a Palestinian primary school teacher, reacts after Pope Francis named her recipient of the second annual Global Teacher prize
“I know what an incredible teacher can mean to a child,” he said. “A good teacher holds the power to influence, inspire and shape a young person’s life for the better. They represent the key to real change in this world.”
The prince added: “Teachers are also uniquely placed to recognize and support the most vulnerable and troubled children in our society, reaching young people early on in their education and providing them with the extra support they need and giving them the best possible chance in life. This is an incredible responsibility.”
Pope Francis announced the winner via video message.
“I would like to congratulate the teacher Hanan al-Hroub for winning this prestigious prize due to the importance that she gave to the ‘playing’ part in the education of the children,” he said.
In her acceptance speech, given in Arabic, she said: “I am proud to be a Palestinian female teacher standing on this stage. I accept this as a win for all teachers in general and Palestinian teachers in particular.
“Each day, the role of the teacher is reinforced and its importance confirmed as the world questions what future we want for our children.”
Speaking after the ceremony, Hegarty, who has created more than 1,000 math’s videos explaining the subject to children said: “I’m not disappointed at all. I spent an hour with Hanan earlier and she is an amazing, inspirational woman. The right person won, without question.”
“It’s been an unbelievable experience,” he added. “To be able to tell your story, as small as it may be in the grand scheme of things, is great. It’s been great to be able to talk about maths.”
Hroub grew up in the Bethlehem refugee camp, and was regularly exposed to violence. She went into primary education after her own children were left traumatized from witnessing a shooting on their way home from school.
Hroub promotes the slogan “no to violence” and uses a specialist approach with children that she developed herself, and has written about in her book, We Play We Learn. It involves developing trusting, respectful and affectionate relationships, and encouraging youngsters to work together and rewarding positive behaviour.
She is planning to spend the money on helping students and teachers around the world to help them progress in their education and careers.
The star-studded ceremony included tributes from the actors Matthew McConaughey and Salma Hayek, as well as a number of politicians.
The former US president Bill Clinton addressed the 10 candidates in a video message, saying: “You don’t hear it often enough, but your work is truly heroic.”
This year’s finalists were drawn from around the world, including the UK, Pakistan, Kenya, Palestine, the US, Japan, Finland, Australia and India.
The winner receives $1m (£706,000) and will be asked to serve as a global ambassador for the Varkey Foundation, attending events and speaking about their work.
But they are also required to remain working as a classroom teacher for at least five years as a condition of winning the award.
