Malaysia Secures RM4 Billion Halal Industry Investment from China
Malaysia is set to receive a significant boost in halal industry investments from China, amounting to RM4 billion. Deputy Prime Minister Datuk Seri Dr. Ahmad Zahid Hamidi announced a series of high-profile meetings with key Chinese halal industry players at the Malaysia-China Halal Business Forum in Shanghai. This development signals a strong economic partnership between the two nations, positioning Malaysia as a major player in the global halal market. Aamer Yaqub Reports
Halal Industry Investments from China
The potential RM4 billion in investments is aimed at various sectors within the halal industry, including food and beverages, pharmaceuticals, cosmetics, herbal medicine, and vaccines. These sectors are expected to drive economic growth and create new opportunities for Malaysia’s expanding halal industry. The importance of halal-certified products, especially in Muslim-majority regions like Southeast Asia and the Middle East, cannot be understated. As the global demand for halal products continues to rise, Malaysia is positioning itself as the primary hub for investors who want to tap into this burgeoning market.
“Forty Chinese companies have expressed serious interest in investing in Malaysia, with estimated investments totaling RM4 billion,” said Ahmad Zahid during a press conference. “The priority sectors are food and beverages, but there are also significant interests in pharmaceuticals, cosmetics, vaccines, and herbal medicinal products.”
This investment surge comes at a time when the halal industry is witnessing exponential growth. According to the State of the Global Islamic Economy Report 2023, the global halal market is projected to reach $2.3 trillion by 2024, with the food and beverage sector alone expected to account for nearly $1.5 trillion. Malaysia’s move to attract more foreign direct investments, particularly from China, is well-timed to capitalize on this growth. Read more>>
How Zakat Can Support Medical Needs and Initiatives
In today’s world, healthcare is a crucial part of human well-being, and access to quality medical services is fundamental for every community. However, millions of people worldwide still face significant challenges in affording essential healthcare. One way to address these health disparities is through the concept of Zakat, an Islamic charitable practice that can play a transformative role in supporting medical needs and health initiatives. In this article, we will explore how Zakat can be effectively utilized to support health-related needs, alleviate financial burdens for the less fortunate, and empower community health initiatives.
What is Zakat and Its Relevance to Health?
Zakat is one of the Five Pillars of Islam, a mandatory act of charity that requires Muslims to give 2.5% of their accumulated wealth annually to those in need. The word “Zakat” means “purification” and “growth,” signifying both the purification of one’s wealth and the growth of a just and caring society. Although Zakat can be allocated to a variety of causes—including poverty relief, education, and debt repayment—its role in supporting health and medical needs is becoming increasingly recognized. Read more>>
Islamic Finance Industry Still Facing Shortages of Scholars, Trained Professionals
The Islamic finance industry has grown rapidly over the past few decades, evolving from a niche market into a global phenomenon with assets exceeding $3 trillion. Despite its remarkable growth, the industry continues to struggle with a critical issue: a shortage of qualified scholars and trained professionals. This talent gap poses a significant challenge to the sustainability and further expansion of the sector.
This article explores the reasons behind the shortage, its impact on the industry, and potential solutions to address the gap. We will also discuss the opportunities this situation presents for aspiring professionals and the steps needed to build a more robust talent pipeline in Islamic finance.
Current State of the Islamic Finance Industry
Islamic finance refers to financial activities that comply with Shariah (Islamic law), which prohibits interest (riba), excessive uncertainty (gharar), and investments in businesses considered haram (forbidden), such as alcohol and gambling. The industry encompasses various segments, including Islamic banking, Takaful (Islamic insurance), Sukuk (Islamic bonds), and Islamic funds.
The sector’s assets are expected to grow significantly, driven by the increasing demand for ethical finance and the expansion of Islamic finance markets in countries like Malaysia, Saudi Arabia, and the United Arab Emirates. However, to sustain this growth, the industry requires a steady supply of scholars and professionals who can navigate the complexities of Sharia-compliant finance. Read more>>
Lifting the Bottom Billion: Will It Work This Time?
Imagine being part of a billion people stuck in a cycle of extreme poverty—unable to break free due to war, corruption, lack of education, and isolation from global markets. These individuals make up what economist Paul Collier famously termed the “Bottom Billion.” Despite countless international efforts to address their struggles, many remain trapped in some of the most challenging conditions on earth, particularly in sub-Saharan Africa. With new strategies and technologies emerging, the big question is: Will it work this time? In this article, we’ll dive into the latest global initiatives and the hurdles still standing in the way of lifting the Bottom Billion out of poverty once and for all.
Understanding the Bottom Billion Crisis
For decades, poverty reduction efforts have centered on providing aid, improving infrastructure, and addressing public health issues. However, the situation for the Bottom Billion is complex and often resistant to traditional development strategies. According to Collier, these individuals are caught in one or more of four traps: conflict, natural resource dependence, landlocked countries with bad neighbors, and poor governance. These traps create cyclical poverty that is difficult to escape.
Recent data shows that while global poverty rates have decreased—thanks to economic growth in places like China and India—the situation for the Bottom Billion remains unchanged in many regions. Sub-Saharan Africa, for instance, continues to struggle with high poverty rates, despite decades of international aid. The challenge is not just about money; it’s about addressing the root causes that keep these populations poor. Read more>>
Ghana is Planning its First Nuclear Energy Plant: what’s Behind the Decision
Ghana is struggling to provide affordable and consistent electricity to its citizens. The country produces excess electricity but the supply isn’t reliable. This conundrum has led to the country’s decision to build a nuclear power plant. Nuclear scientist Seth Kofi Debrah discusses the risks – and opportunities – for Ghana.
The country’s industrialisation ambitions, fuel constraints, limited resources, climate conditions and international commitments to climate change mitigation are among the factors driving Ghana to include nuclear power in the energy mix.
Nuclear power is available all year round, making it reliable. The nuclear power plant is expected to operate as a baseload plant (the production facility used to meet some or all of an area’s continuous energy demand), with a capacity factor of about 92%. A conventional nuclear power plant typically operates for 92% of a calendar year as compared to 54% for natural gas power plants, 24% for solar and 34% for wind power plants. Read more>>
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