IRTI Training Course Highlights Economic Benefits of Halal Trade

23 Dec, 2019

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A training course aimed to promote understanding of the economic benefits of the halal trade and industry has been organized by the Islamic Research and Training Institute (IRTI) for officials from various government agencies in Egypt.

The program, held in Cairo from 1-5 December 2019, examined the halal markets and regulatory frameworks in several jurisdictions, and addressed the practical challenges of structuring and developing halal products as well as the appropriate Islamic financing structures for funding halal trade and industry.

The sessions addressed four themes critical to the understanding of the concept of halal and its application. These are Halal Concept and Halal Market Regulation, Halal Industry Value Chain and Halal Quality Infrastructure, Halal Entrepreneurship and Strategies for Halal Industry Cluster Development, and Operational Modality of Islamic Financial Products for Financing Halal Industry.

Participants of the program came from various departments of the Egyptian Ministry of Trade and Industry, including commercial attaches working in the Egyptian Embassies and Consulates worldwide.

The training was organized in the context of the growing interest in halal trade at the global level. A recent report on the state of the global Islamic economy estimates that the global halal economy recorded a 5.2% year-on-year growth and is forecast to reach US$3.2 trillion by 2024.

In light of the growth of the halal sector, IRTI is focusing on providing capacity building for public and private sector professionals working in the halal trade and industry.

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