World Islamic Economic Forum to Chart Future of Halal Industry, Islamic Finance
WIEF Foundation secretary-general Tan Sri Ahmad Fuzi Abdul Razak said the impact of the Fourth Industrial Revolution, apart from the need to formulate a standard framework to develop the halal industry, the Syariah-compliant banking sector would also take center stage during the three-day forum, in Sarawak, Malaysia.
The establishment of the common framework, he said, is "extremely important” not only to make the halal industry more viable, but also to accelerate the expansion of Islamic banking in Muslims and non-Muslim countries.
"This is something being discussed now. It is a work in progress since the standard adopted by countries may differ from one another in terms of Syariah-compliance.
"In Malaysia, the Islamic Development Department (Jakim) has been assigned to establish the standard in mapping the halal industry, not only in food production, but also other related areas.
"The standard laid out by Jakim has received worldwide recognition from Muslim and non-Muslim nations alike, including China.
"We hope through this forum as a platform, the standard used by Malaysia will eventually be recognized as the world international standard,” said Fuzi in a special interview with Media Prima Bhd, which is the official media partner for 13th WIEF.
Malaysia Prime Minister Najib Razak will open and deliver his keynote address at this year’s forum which begins on Nov 21.
Other world leaders expected at the forum include Indonesian president Joko Widodo, Moroccan Prime Minister Saad Eddine El Othmani, President of the Union of the Comoros Azali Assoumani and Vice-President of Ghana, Dr Mahamudu Bawumia.
Source: New Straits Times
