Ekonomi Islam & GlobalEnglishPilihan Editor

Halal Industry Presents A Major Opportunity For Growth, Says HDC

The global halal industry represents a significant opportunity to develop Islamic capital market models on a much larger scale, both locally and globally.

Halal Development Corporation (HDC) chairman Datuk Mahmud Abbas said the micro, small and medium enterprises (MSME) could benefit greatly from the financial capital market that can be generated via the Islamic funding mechanisms, such as equity crowdfunding (ECF) and peer-to-peer (P2P) financing platforms.

However, he said the potential of ECF and P2P financing in support of halal businesses is yet to reach its true potential.

“With Islamic capital market no longer being merely funding options, the future is indeed promising.
“While its entrance into mainstream raises both hopes and fears, it is an opportunity for us to show proof of its feasibility, viability and vitality.
“I can assure you that HDC is fully committed to providing a holistic ecosystem of support to shariah-compliant market-based fundraising for our pool of halal companies representing MSMEs as we continue to embrace the opportunities and challenges albeit Covid-19 pandemic,” he said during his speech at Securities Commission (SC)-HDC Forum 2021, themed “Enabling Growth through the Islamic Capital Market” today.
The two-day forum aims to raise awareness on shariah-compliant market-based fundraising for MSMEs, especially those in the halal economy.

SC chairman Datuk Syed Zaid Albar said the introduction of ECF and P2P frameworks by the SC had provided businesses and entrepreneurs, particularly MSMEs, additional fundraising avenues through the capital market.

He said since their introduction, the alternative market-based fundraising platforms have benefited close to 3,000 MSMEs.

Despite the uncertainties of 2020, Zaid Albar said total amounts raised for ECF were more than 5.5 times higher and 1.2 times higher for P2P platforms than the previous year.

Zaid Albar said these platforms’ offering of shariah-compliant solutions has grown, with six platform operators and more than RM1.6 million raised using Islamic investment notes on P2P platforms.

“We expect this rising trend to continue with increased interest in shariah-compliant offerings from potential issuers, as well as investors,” he said. – NST ONLINE

BacalahMalaysia Team

Berita portal paling trending di negara ini. Tanpa prejudis menjadikan suara rakyat didengari sewajarnya, ada kelainan, dekat di hati masyarakat dan pemerintah. Currently the country's most trending news portal. Prejudice free website that prioritizes and listens to the voice of the people with a difference, community and authority friendly

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button
Close