Alliance Islamic Bank targets RM100mil financing for halal SMEs

KUALA LUMPUR: Alliance Islamic Bank Bhd (Alliance Islamic Bank) today signed a memorandum of understanding (MoU) with eJazmine, Fusionex International and the International Institute for Halal Research (INHART) to further strengthen its Halal in One programme for businesses.

The expanded strategic partnership will make available more digitisation options and training programmes and an additional e-commerce platform.

Alliance Islamic Bank chief executive officer Rizal IL-Ehzan Fadil Azim said today, the global halal market is valued at US3$ trillion and is one of the fastest-growing markets in the world.

He said halal products and services are now much sought after by muslims and non-muslims alike, showcasing the rich opportunities that the halal industry has to offer.

“Towards this end, it is imperative that our local businesses continuously embrace innovation and digital transformation efforts to tap into this lucrative market.

“We are here to help SMEs tap into the trillion-dollar halal market by providing a digital platform that is convenient, affordable and easy to scale up.

“On this note, we aim to provide RM100 million in financing to halal small and medium enterprises (SME) who have started their journey towards halal certification.

“We are pleased that our new partners – eJazmine, Fusionex and INHART – share our vision to help SMEs grow in the robust halal market,” he said in a statement.

Each of the new strategic partners of the Halal in One programme offers a unique value proposition that will help businesses be successful in the halal market.

eJazmine, an e-commerce platform, provides preferential rates to local businesses looking to gain market access in countries like the United States of America, Saudi Arabia, Indonesia and China.

Another partner, Fusionex, has made available its full complement of integrated digital solutions to help business owners create an online presence, list their business on its e-commerce platform and use analytics and intelligence to boost business growth.

INHART by the International Islamic University Malaysia offers specialised training programmes to educate business owners on shariah compliance and provide international halal audit services to businesses looking to enter foreign markets.

The inclusion of eJazmine, Fusionex and INHART enriches the Halal in One programme and supports its aspiration to be a single-source platform for coaching and training, business matching, certification support, halal funding, advisory, services and all things relating to halal.

Source: NST