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- EDD K. USMAN | X (Twitter): @edd1819 | Instagram: @bluestar0910 |Facebook: SDN – SciTech & Digital News
PASAY CITY (SDN) — The global halal market — valued at US$7.2 trillion in 2020 — continues to grow in quick fashion, as reported by the Halal Times, saying it’s being pushed upward by trio of factors — such as demographic, cultural, and economic.
At a two-day event organized by the National Commission on Muslim Filipinos (NCMF) here in one of the city’s hotels, NCMF Secretary Sabuddin N. Abdurahim cited this potential of the Philippines taking a bite at the world halal pie.
After all, as the SDN – SciTech and Digital News found out through Halal Times, the Philippines with an estimated 10 million Muslim population has a potential halal trade estimated at Php40-Php100 billion annually, also driven by a vibrant and increasing population of Islam believers, and other factors.
Dubbed “Aligning Perspectives: A Roundtable on Halal Industry and Financial Solutions”, the NCMF through its Bureau of Muslim Economic Affairs (BMEA) headed by Director Saleha Pangarungan Sacar, hosted February 10-11 event at Microtel by Wyndham, UP Technohub, Quezon City.
In his remarks at the event, the NCMF secretary/CEO welcome with “great pleasure and honor” the attendees from the public and private sectors to the first-ever roundtable discussion on the Halal Industry and Financial Solutions, noting it was organized by BMEA’s Halal Division and Cooperative Division under the leadership of Sacar.
“Today, we gather not only to explore the immense potential of the Halal sector but also to address the challenges and opportunities that lie ahead for our Micro, Small, and Medium Enterprises (MSMEs) within this vibrant industry,” Abdurahim points out.
Sacar, who is presently in Jakarta, Indonesia, for meetings with various Indonesian government agencies, told SDN in a message the NCMF also launched on the event’s opening day the “Barakah” App, which, she explains, is “an application designed as a platform made accessible to everyone providing access to Halal Compliant Merchants such as Hotels, Restaurants, Commercial Banks catering Islamic Banking Law, Halal Certified Products available in stores, locating Mosques around the Philippines for the foreign tourists.”
Second day of event focuses on Islamic Finance
The BMEA head said the Barakah app is easily downloaded on Google Play Store (Android) and Apple Store (Apple), adding with the app users can also access Shari’ah/Halal Compliant Shops and services found across the Philippines.
“Halal industry is not merely a niche market; it represents a growing and expanding opportunity for our country — a bridge that connects our diverse cultures, beliefs, and aspirations,” Sacar emphasizes.
“By leveraging these principles, we can create financial products and services that cater not only to the Muslim population but also to the broader market that seeks ethical and sustainable options. The Philippines is home to a vibrant Muslim community, rich in culture and tradition. Yet, we face challenges in accessing financial services that are compliant with our beliefs,” she laments.
Abdurahim, a native of Tawi-Tawi, one of the component areas of the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM), notes how rapidly the halal market is accelerating, push forward by “growing global demand for products and services that adhere to Islamic principles,” adding this development provides Philippine MSMEs a unique opportunity to tap into new markets, create new jobs, and contribute to the economic development of the Muslim communities in the country.
“I encourage all of you to actively participate (in the roundtable) sharee your thoughts and ask questions. Together, we can build a roadmap that not only enhances the capabilities of our MSMEs but also positions the Philippines as a competitive player in the global Halal market,” the NCMF head says.
On its second day, Tuesday, the event will focus on Islamic Finance, another vital initiative of the Commission.
Much earlier, the NCMF-BMEA’s Rahimah Solaiman sent to SDN the names of the halal certifying bodies (HCBs) already accredited by the government agency, such as: Halal Development Institute of the Philippines, Inc. (HDIP), Prime Certification and Inspection Asia Pacific, Inc. (Prime), Halal International Chamber of Commerce and Industry of the Philippines, Inc. (HICCIP), Mindanao Halal Authority (MinHA), Basilan Ulama Supreme Council Foundation, Inc. (BUSC), Fiqhi and Halal Council Foundation, Inc. (Fiqhi), and Muslim Mindanao Halal Certification Body (MMHCB).
The NCMF-BMEA partnered with the M&T Consultants, Australian Government, The Asia Foundation, and other organizations. (/)