by admin | May 25, 2021 | Halal Food, Halal Industries, Muslim World
Dubai : Malaysia has recognized the control system for halal food of the United Arab Emirates (UAE), as well as the latter’s national certificates and national halal mark.
Halal food is identified as without pork or animal fat or blood, while halal beverages can never contain alcohol. In order to get a halal certificate, the food must be guaranteed by qualified Islamic scholars, who can label the product as edible for Muslim consumers.
The Malaysian Department of Islamic Development, JAKIM, sent ESMA the official recognition certificate, after the UAE hosted a Malaysian delegation that reviewed the UAE Halal Control System Global Practices.
The recognition by the Southeast Asian state paves the way to facilitate the export of UAE halal products under the national brand and ensure their acceptance in Malaysian market, as well as 60 other markets that accept Malaysian halal certification.
“This UAE-led initiative, first of its kind in the Arab and Middle East world, will open up horizons to exporters in the country… especially for markets of East and Southeast Asia and the Australian continent,” said Abdullah Abdul Qader Al-Maeeni, Director-General of the Emirates Authority for Standardisation and Metrology (ESMA).
According to official reports, bilateral trade between the UAE and Malaysia amounted to 6.1 billion U.S. dollars, last year.
UAE’s exports to Malaysia amounted to 3.59 billion dollars.
—NNN-WAM
by admin | May 25, 2021 | Islamic Banking, Islamic Finance, Muslim World, News, World
By Maeeshat.in Desk,
UAE, July 15: The International Monetary Fund, in its latest report, has admitted growth of Islamic finance and banking in the United Arab Emirates. “UAE is also a major hub for Islamic bond issuances―during 2001–15, $53.8 billion or 36 percent of all global sukuk issuances originated in the UAE,” said IMF in the report released on 14th July.
“The UAE banking system is well developed and strong. Its 59 banks provide a full range of services to their clients. The banking system is large, with total assets amounting to AED 2.6 trillion or 204 percent of GDP at end-March 2017. The banking system is concentrated, with the largest three banks holding over 50 percent of total assets of the banking system. Banks are adequately capitalized and profitable…,” said IMF.
“Islamic banking is developing rapidly with some of the world’s largest Islamic banks headquartered in the country. Islamic banks in the UAE had assets of AED 522 billion or 20 percent of total bank assets at end-March 2017,” said International Monetary Fund.
“Capital market development—including the development of Islamic finance—is important to allow companies, governments, and GREs to reduce their reliance on bank financing,” the report on UAE said.
by admin | May 25, 2021 | Muslim World
Cairo, (IINA) – The UAE confirmed on Saturday its support for France’s initiative and all Arab and international efforts to achieve a comprehensive and just solution to the Palestinian issue based on international resolutions and firm principles, WAM reported.
This was announced by Minister of State for Foreign Affairs Anwar bin Mohammed Gargash in a speech before the extraordinary meeting of the Arab foreign ministers in Cairo.
“We listened with interest to the Palestinian President Mahmoud Abbas who presented a comprehensive briefing about the developments of the vital Palestinian issue. The UAE takes a keen interest in following and supporting the Palestinian issue and undertaking its role as a member of the Arab Nation. It calls for a just and comprehensive settlement to the Palestinian issue based on international resolutions and firm principles”, he said.
He expressed hope that the French initiative would contribute towards reviving stalled peace talks and that the French would continue to mobilize international support for their initiative aimed at solving the Palestinian issue.
by admin | May 25, 2021 | World
Kathmandu (IANS) A residential embassy of the United Arab Emirates (UAE) has been officially inaugurated in Nepal.
The Minister for Foreign Affairs of the UAE, Sheikh Abdullah Bin Zayed Al Nahyan and his Nepalese counterpart Kamal Thapa jointly inaugurated the embassy on Tuesday in Kathmandu’s Lazimpat area, Xinhua news agency reported.
“Today is a historic day in Nepal-UAE relationship with the establishment of the UAE embassy in Nepal. It is my pleasure to say that we have been enjoying a cordial and trouble-free relationship since the establishment of diplomatic ties,” the Nepalese foreign minister said.
He thanked the UAE government for dispatching the rescue and relief teams in the aftermath of the devastating April 2015 earthquake that killed nearly 10,000 people leaving 23,000 injured.
Sheikh Abdullah said that the bilateral relationship will be further enhanced with the establishment of UAE embassy in Nepal.
The UAE delegation headed by the foreign minister also held talks with Nepalese President Bidya Devi Bhandari and Prime Minister K.P Sharma Oli.
Nepal has maintained its residential embassy in Abu Dhabi since April 2004. The two countries established their diplomatic relations on January 22, 1977.
UAE has remained one of the attractive destinations for Nepalese migrant workers over the years. About 200,000 Nepalese are currently working in UAE, according to the Nepalese foreign affairs ministry.
by admin | May 25, 2021 | Halal Industries
Dubai Islamic Economy Development Centre (DIEDC) and the Emirates Authority for Standardization and Metrology (ESMA) hold a signing ceremony after approval of the International Halal Accreditation Forum (IHAF) by the government of UAE.
The foundation members include: (1) Dubai Accreditation Department (2) Emirates National Accreditation System (3) General Coordination for Accreditation (Brazil) (4) American Association for Laboratory Accreditation (USA) (5) Pakistan National Accreditation Council (Pakistan) (6) Entidad Nacional de Acreditacion (Spain) (7) Gulf Centre for Accreditation (8) Saudi Accreditation Committee (9) United Kingdom Accreditation Service and (10) Joint Accreditation System of Australia and New Zealand.
(Source: Joint Accreditation System of Australia and New Zealand, JAS-ANZ)
The primary objective of establishing IHAF is to harmonise conformity assessment practices in the halal sector, and establish Multilateral Recognition Agreements between member bodies that will facilitate halal trade globally, according to JAS-ANZ.
Initiative will prop up Dubai’s ambition of emerging as a global capital of Islamic economy
Representatives of 10 countries have signed a memorandum of understanding (MoU) in Dubai for the establishment of the International Halal Accreditation Forum (IHAF) to be based in the emirate.
The move is a significant development that boosts the efforts of the Dubai Islamic Economy Development Centre (DIEDC) to articulate Dubai’s ambition of emerging as a global capital of Islamic economy.
Jointly spearheaded by DIEDC and the Emirates Authority for Standardisation and Metrology (Esma), the latest initiative in the UAE reinforces the government’s efforts to shape the country into a global reference in halal product certification and enabling legislation.
Once established, IHAF will aim to regulate the halal industry and introduce an inspection mechanism that safeguards customers’ rights and industry promotions. In addition, the accreditation body will help build credibility and confidence in halal-certified food and non-food products globally, while facilitating trade movement in the halal industry and ensuring greater cooperation among regional and international organisations.
The issue of global standardisation of halal products and services has been on the agenda of several stakeholders of the Islamic economy since the nascent sector gained international recognition in recent years.
Speaking on the occasion, Mohammed bin Abdullah Al Gergawi, chairman of the DIEDC, said: “Each economic system requires a well-defined structure and culture, agreeable standards and unified references. This is why we consider the agreement to establish the International Halal Accreditation Forum an essential initiative that contributes to the development of Islamic economy. The agreement will facilitate the structured organisation of varied sectors of Islamic economy and the formation of its entities.”
He added: “Furthermore, it will enable the documentation of local and international references and lay down specifications for a unanimously agreed mechanism that will be binding on all participating countries in the Islamic economy space. This initiative will establish a unified foundation for the concept of halal and halal production mechanisms – so that we can use it as a benchmark and expand its scope to include even more countries.”
Dubai has been taking steps to beef up its Sharia regulations as part of plans to carve out an Islamic financial industry in the emirate. The UAE Cabinet on Sunday approved the launch of a Sharia Authority, a regulator to set standards for Islamic finance products.
The body will oversee the Islamic financial sector, approve financial products and set rules and principles for banking transactions in accordance with Islamic jurisprudence.
(reference:http://halalfocus.net)
