Kuala Lumpur (UNA) – Malaysia has announced the creation of the International Halal Award to reward institutions that provide distinguished halal certification in this field, on the sidelines of the 13th Islamic Economic Conference currently being held in the country, according to the Do Born Post website. The award was decided to be created through a joint initiative by the Malaysian Halal Development Foundation and a group of national companies active in the halal sector. A representative of the Malaysian Halal Development Foundation said at a press conference that this award will be held annually to reward institutions that provide halal certification, as part of the efforts of the Halal Development Foundation to promote and develop the halal sector, as well as to contribute effectively to the global halal economy. He added that the award program generally seeks to develop the halal industry and increase its profits by strengthening the halal services network and developing halal consumer products, noting that the award will be a step towards focusing and paying greater attention to the consumer and recognizing brands that contribute to spreading the halal industry. The Council representative also noted that the halal industry in Malaysia has recorded $3 million, contributed to the creation of 11 new jobs and increased halal product exports estimated at $10 million. The official stated that the potential of the halal market economy in Malaysia has reached unparalleled levels as a result of maintaining growth expectations of 20 percent annually since 2012. He said in this regard that Malaysia has invested heavily and proactively over the past years to advance one of the fastest growing economic sectors in the world, which constitutes $6 trillion in international trade. In a related context, the representative confirmed that the Malaysian Halal Development Corporation has launched several halal certification institutions in some countries to promote the Malaysian model in the field of halal certification. He continued by saying that the International Halal Award is a natural extension of the standards followed by the Malaysian Halal Development Corporation in this field to reward all institutions keen on compliance with Islamic law, creativity, transparency and the use of modern technology. As a reminder, the volume of transactions in the halal market in 2016 is estimated at around $5 trillion, and is expected to increase in the coming years with the increasing number of Muslims in the world and their increasing demand for halal services. The increase in their purchasing power is also expected to lead to steady growth in the halal market globally in the coming years. (End) Ez / S J
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