fbpx
  • About us
  • Advertise
  • Contact
  • Nominate
  • Client’s Voice
  • Login
  • Register
📖 Magazine
The Global Economics
  • Home
  • Banking
    • All
    • Central
    • Commercial
    • Digital
    • Islamic
    • Private
    Al Salam Bank Q1 net profit rises a strong 7% to USD17.3 million

    Al Salam Bank Q1 net profit rises a strong 7% to USD17.3 million

    Saudi banks big on new digital future; fintech transactions to outdo the USD 33 billion thresholds by 2023

    Saudi banks big on new digital future; fintech transactions to outdo the USD 33 billion thresholds by 2023

    OPay obtains approval of Egypt's CBE to issue prepaid cards

    OPay obtains approval of Egypt’s CBE to issue prepaid cards

    Reserve Bank of Australia left its cash rate at the most significant low of 0.1% on Tuesday

    Reserve Bank of Australia left its cash rate at the most significant low of 0.1% on Tuesday

    Cross River Bank gets USD3 Billion+ valuation and a crypto-first strategy

    Cross River Bank gets USD3 Billion+ valuation and a crypto-first strategy

    Digital voice-based banking to become the new reality in 2022?

    Digital voice-based banking to become the new reality in 2022?

    Led by Apax Digital, ClearBank raises £175m to accelerate global expansion

    Led by Apax Digital, ClearBank raises £175m to accelerate global expansion

    Al Salam acquires Ithmaar Bank for USD2.2 Billion to power Consumer Banking division

    Al Salam acquires Ithmaar Bank for USD2.2 Billion to power Consumer Banking division

    An Ode to the 5 Arab Women Reigning the Business World

    An Ode to the 5 Arab Women Reigning the Business World

  • Non Banking
    • All
    • Crypto & Fintech
    • Currencies
    • Funds
    • Insurance
    • Mergers & Acquisitions
    • Taxation
    • Wealth & Asset Management
    Pakistan's 1st fintech M&A deal: ZoodPay acquires Tez Financial Services

    Pakistan’s 1st fintech M&A deal: ZoodPay acquires Tez Financial Services

    Abu Dhabi-based Borouge sets offer price for IPO at USD0.66 per share at a valuation of USD20 billion

    Abu Dhabi-based Borouge sets offer price for IPO at USD0.66 per share at a valuation of USD20 billion

    Egypt to receive USD41.5 billion of investment in hydrogen projects through 2030

    Egypt to receive USD41.5 billion of investment in hydrogen projects through 2030

    New AI startup by Co-founders of DeepMind and LinkedIn raises USD 225 million

    New AI startup by Co-founders of DeepMind and LinkedIn raises USD 225 million

    In new move in 2022, IMF raises weighting of dollar, yuan in Special Drawing Rights basket

    In new move in 2022, IMF raises weighting of dollar, yuan in Special Drawing Rights basket

    Vodafone shares up after USD 4.4 billion UAE stake buy

    Vodafone shares up after USD 4.4 billion UAE stake buy

    Ather Energy raises USD128 million in series-E funding

    Ather Energy raises USD128 million in series-E funding

    Malaysia may cut palm oil export tax by 50 percent amid global supply crisis

    Malaysia may cut palm oil export tax by 50 percent amid global supply crisis

    UK’s Morrisons to buy McColl’s ahead of Asda owners

    UK’s Morrisons wins race to buy McColl’s ahead of Asda owners

  • Markets
    • All
    • Brokerage
    • Energy
    • Forex
    • Ultility
    Egypt to receive USD41.5 billion of investment in hydrogen projects through 2030

    Egypt to receive USD41.5 billion of investment in hydrogen projects through 2030

    Panama to develop largest advanced biorefinery to make lower-carbon aviation fuel by 2026

    Panama to develop largest advanced biorefinery to make lower-carbon aviation fuel by 2026

    Brazil mills cancel new sugar export contracts, shift output to ethanol

    Brazil mills cancel new sugar export contracts, shift output to ethanol

    World’s No.2 producer of wheat, India, bans wheat exports in new move

    World’s No.2 producer of wheat, India, bans wheat exports in new move

    Australian stocks fall lower amidst worldwide sell-off; ASX 200 witnesses AUD 50 billion incineration

    Australian stocks fall lower amidst worldwide sell-off; ASX 200 witnesses AUD 50 billion incineration

    Volkswagen AG augments electric vehicle investment in Spain to EUR 10 billion

    Volkswagen AG augments electric vehicle investment in Spain to EUR 10 billion

    Germany changes stance: Could back new and immediate EU ban on Russian oil

    Germany changes stance: Could back new and immediate EU ban on Russian oil

    Russia attacks Ukraine grain network in bid to cut competition

    Russia attacks Ukraine grain network in new bid to cut competition

    Crisis talks in EU after Russia cuts gas to 2 member countries

    Crisis talks in EU after Russia cuts gas to 2 member countries

  • Infrastructure
    • All
    • Education
    • Healthcare
    • Logistics
    • Real Estate
    • Telecom
    • Transportation
    Egypt’s Communication Ministry launches new Ashbal Misr Digital Initiative for 2022

    Egypt’s Communication Ministry launches new Ashbal Misr Digital Initiative for 2022

    In 2022, Abu Dhabi real estate records a boom with an influx of international investors

    In 2022, Abu Dhabi real estate records a new boom with an influx of international investors

    Stellantis sees India as profitable auto market amid challenges in China, Russia in 2022

    Stellantis sees India as profitable auto market amid challenges in China, Russia in 2022

    New EdTech startup STEMuli raises USD3.25M to transform learning with Educational Metaverse

    New EdTech startup STEMuli raises USD3.25M to transform learning with Educational Metaverse

    Modern Indian architecture creating heat waves in 21st century

    Modern Indian architecture creating heat waves in 21st century

    Vodafone shares up after USD 4.4 billion UAE stake buy

    Vodafone shares up after USD 4.4 billion UAE stake buy

    Ather Energy raises USD128 million in series-E funding

    Ather Energy raises USD128 million in series-E funding

    Leaked: Spain to Reveal Draft Bill for Menstrual Leaves to the Cabinet in May 2022

    Leaked: Spain to Reveal Draft Bill for Menstrual Leaves to the Cabinet in May 2022

    For 2022, BT and Warner Bros Discovery jointly create new pay-TV sport business

    For 2022, BT and Warner Bros Discovery jointly create new pay-TV sport business

  • Lifestyle
    • All
    • Fashion
    • Hospitality
    • Retail
    • Technology
    • Tourism
    Egypt’s Communication Ministry launches new Ashbal Misr Digital Initiative for 2022

    Egypt’s Communication Ministry launches new Ashbal Misr Digital Initiative for 2022

    New AI startup by Co-founders of DeepMind and LinkedIn raises USD 225 million

    New AI startup by Co-founders of DeepMind and LinkedIn raises USD 225 million

    Greek Tourism in new partnership with Qatar Airways, Wego for tourism in 2022

    Greek Tourism in new partnership with Qatar Airways, Wego for tourism in 2022

    Minor Hotels to launch 4 new properties, 2 brands in Middle East this year

    Minor Hotels to launch 4 new properties, 2 brands in Middle East this year

    Saudi government likely to add to its $500bln NEOM commitment

    Saudi government likely to add to its USD500 billion NEOM commitment

    Deutsche Hospitality unveils big Middle East expansion plans for 2022

    Deutsche Hospitality unveils big Middle East expansion plans for 2022

    UK’s Morrisons to buy McColl’s ahead of Asda owners

    UK’s Morrisons wins race to buy McColl’s ahead of Asda owners

    Lufthansa and TripActions launch New Travel Platform for SMEs

    Lufthansa and TripActions launch New Travel Platform for SMEs in 2022

    Abu Dhabi launches new 2022 ‘Summer Like You Mean It’ campaign

    Abu Dhabi launches new 2022 ‘Summer Like You Mean It’ campaign

  • FeatureNew
    • All
    • Business Leaders
    • Exclusive Coverage
    • Long reads
    • Startups
    Beema Insurance - Fastest Growing InsurTech Company

    Beema Insurance – Fastest Growing InsurTech Company 2021

    Freight and Logistics firm, Bosta, declares office launch in Riyadh; eyes on global expansion in 2022

    Freight and Logistics firm, Bosta, declares office launch in Riyadh; eyes on global expansion in 2022

    The Internet – Are We Safe in the 21st Century?

    The Internet – Are We Safe in the 21st Century?

    An Ode to the 5 Arab Women Reigning the Business World

    An Ode to the 5 Arab Women Reigning the Business World

    Nine women entrepreneurs at the helm of crypto success in 2022

    Nine women entrepreneurs at the helm of crypto success in 2022

    Top 10 Countries Considered as the Best Business Hubs in 2022

    Top 10 Countries Considered as the Best Business Hubs in 2022

    Accel unveils a new USD 650 million fund for India and Southeast Asia

    Accel unveils a new USD 650 million fund for India and Southeast Asia

    Riyadh: The Saudi-Kyrgyz business forum at FSC in 2022 boosts the two countries’ relations

    Riyadh: The Saudi-Kyrgyz business forum at FSC in 2022 boosts the two countries’ relations

    Meta for MENA; SMEs receive boost in 2022

    Meta for MENA; SMEs receive boost in 2022

  • Awards
No Result
View All Result
  • Home
  • Banking
    • All
    • Central
    • Commercial
    • Digital
    • Islamic
    • Private
    Al Salam Bank Q1 net profit rises a strong 7% to USD17.3 million

    Al Salam Bank Q1 net profit rises a strong 7% to USD17.3 million

    Saudi banks big on new digital future; fintech transactions to outdo the USD 33 billion thresholds by 2023

    Saudi banks big on new digital future; fintech transactions to outdo the USD 33 billion thresholds by 2023

    OPay obtains approval of Egypt's CBE to issue prepaid cards

    OPay obtains approval of Egypt’s CBE to issue prepaid cards

    Reserve Bank of Australia left its cash rate at the most significant low of 0.1% on Tuesday

    Reserve Bank of Australia left its cash rate at the most significant low of 0.1% on Tuesday

    Cross River Bank gets USD3 Billion+ valuation and a crypto-first strategy

    Cross River Bank gets USD3 Billion+ valuation and a crypto-first strategy

    Digital voice-based banking to become the new reality in 2022?

    Digital voice-based banking to become the new reality in 2022?

    Led by Apax Digital, ClearBank raises £175m to accelerate global expansion

    Led by Apax Digital, ClearBank raises £175m to accelerate global expansion

    Al Salam acquires Ithmaar Bank for USD2.2 Billion to power Consumer Banking division

    Al Salam acquires Ithmaar Bank for USD2.2 Billion to power Consumer Banking division

    An Ode to the 5 Arab Women Reigning the Business World

    An Ode to the 5 Arab Women Reigning the Business World

  • Non Banking
    • All
    • Crypto & Fintech
    • Currencies
    • Funds
    • Insurance
    • Mergers & Acquisitions
    • Taxation
    • Wealth & Asset Management
    Pakistan's 1st fintech M&A deal: ZoodPay acquires Tez Financial Services

    Pakistan’s 1st fintech M&A deal: ZoodPay acquires Tez Financial Services

    Abu Dhabi-based Borouge sets offer price for IPO at USD0.66 per share at a valuation of USD20 billion

    Abu Dhabi-based Borouge sets offer price for IPO at USD0.66 per share at a valuation of USD20 billion

    Egypt to receive USD41.5 billion of investment in hydrogen projects through 2030

    Egypt to receive USD41.5 billion of investment in hydrogen projects through 2030

    New AI startup by Co-founders of DeepMind and LinkedIn raises USD 225 million

    New AI startup by Co-founders of DeepMind and LinkedIn raises USD 225 million

    In new move in 2022, IMF raises weighting of dollar, yuan in Special Drawing Rights basket

    In new move in 2022, IMF raises weighting of dollar, yuan in Special Drawing Rights basket

    Vodafone shares up after USD 4.4 billion UAE stake buy

    Vodafone shares up after USD 4.4 billion UAE stake buy

    Ather Energy raises USD128 million in series-E funding

    Ather Energy raises USD128 million in series-E funding

    Malaysia may cut palm oil export tax by 50 percent amid global supply crisis

    Malaysia may cut palm oil export tax by 50 percent amid global supply crisis

    UK’s Morrisons to buy McColl’s ahead of Asda owners

    UK’s Morrisons wins race to buy McColl’s ahead of Asda owners

  • Markets
    • All
    • Brokerage
    • Energy
    • Forex
    • Ultility
    Egypt to receive USD41.5 billion of investment in hydrogen projects through 2030

    Egypt to receive USD41.5 billion of investment in hydrogen projects through 2030

    Panama to develop largest advanced biorefinery to make lower-carbon aviation fuel by 2026

    Panama to develop largest advanced biorefinery to make lower-carbon aviation fuel by 2026

    Brazil mills cancel new sugar export contracts, shift output to ethanol

    Brazil mills cancel new sugar export contracts, shift output to ethanol

    World’s No.2 producer of wheat, India, bans wheat exports in new move

    World’s No.2 producer of wheat, India, bans wheat exports in new move

    Australian stocks fall lower amidst worldwide sell-off; ASX 200 witnesses AUD 50 billion incineration

    Australian stocks fall lower amidst worldwide sell-off; ASX 200 witnesses AUD 50 billion incineration

    Volkswagen AG augments electric vehicle investment in Spain to EUR 10 billion

    Volkswagen AG augments electric vehicle investment in Spain to EUR 10 billion

    Germany changes stance: Could back new and immediate EU ban on Russian oil

    Germany changes stance: Could back new and immediate EU ban on Russian oil

    Russia attacks Ukraine grain network in bid to cut competition

    Russia attacks Ukraine grain network in new bid to cut competition

    Crisis talks in EU after Russia cuts gas to 2 member countries

    Crisis talks in EU after Russia cuts gas to 2 member countries

  • Infrastructure
    • All
    • Education
    • Healthcare
    • Logistics
    • Real Estate
    • Telecom
    • Transportation
    Egypt’s Communication Ministry launches new Ashbal Misr Digital Initiative for 2022

    Egypt’s Communication Ministry launches new Ashbal Misr Digital Initiative for 2022

    In 2022, Abu Dhabi real estate records a boom with an influx of international investors

    In 2022, Abu Dhabi real estate records a new boom with an influx of international investors

    Stellantis sees India as profitable auto market amid challenges in China, Russia in 2022

    Stellantis sees India as profitable auto market amid challenges in China, Russia in 2022

    New EdTech startup STEMuli raises USD3.25M to transform learning with Educational Metaverse

    New EdTech startup STEMuli raises USD3.25M to transform learning with Educational Metaverse

    Modern Indian architecture creating heat waves in 21st century

    Modern Indian architecture creating heat waves in 21st century

    Vodafone shares up after USD 4.4 billion UAE stake buy

    Vodafone shares up after USD 4.4 billion UAE stake buy

    Ather Energy raises USD128 million in series-E funding

    Ather Energy raises USD128 million in series-E funding

    Leaked: Spain to Reveal Draft Bill for Menstrual Leaves to the Cabinet in May 2022

    Leaked: Spain to Reveal Draft Bill for Menstrual Leaves to the Cabinet in May 2022

    For 2022, BT and Warner Bros Discovery jointly create new pay-TV sport business

    For 2022, BT and Warner Bros Discovery jointly create new pay-TV sport business

  • Lifestyle
    • All
    • Fashion
    • Hospitality
    • Retail
    • Technology
    • Tourism
    Egypt’s Communication Ministry launches new Ashbal Misr Digital Initiative for 2022

    Egypt’s Communication Ministry launches new Ashbal Misr Digital Initiative for 2022

    New AI startup by Co-founders of DeepMind and LinkedIn raises USD 225 million

    New AI startup by Co-founders of DeepMind and LinkedIn raises USD 225 million

    Greek Tourism in new partnership with Qatar Airways, Wego for tourism in 2022

    Greek Tourism in new partnership with Qatar Airways, Wego for tourism in 2022

    Minor Hotels to launch 4 new properties, 2 brands in Middle East this year

    Minor Hotels to launch 4 new properties, 2 brands in Middle East this year

    Saudi government likely to add to its $500bln NEOM commitment

    Saudi government likely to add to its USD500 billion NEOM commitment

    Deutsche Hospitality unveils big Middle East expansion plans for 2022

    Deutsche Hospitality unveils big Middle East expansion plans for 2022

    UK’s Morrisons to buy McColl’s ahead of Asda owners

    UK’s Morrisons wins race to buy McColl’s ahead of Asda owners

    Lufthansa and TripActions launch New Travel Platform for SMEs

    Lufthansa and TripActions launch New Travel Platform for SMEs in 2022

    Abu Dhabi launches new 2022 ‘Summer Like You Mean It’ campaign

    Abu Dhabi launches new 2022 ‘Summer Like You Mean It’ campaign

  • FeatureNew
    • All
    • Business Leaders
    • Exclusive Coverage
    • Long reads
    • Startups
    Beema Insurance - Fastest Growing InsurTech Company

    Beema Insurance – Fastest Growing InsurTech Company 2021

    Freight and Logistics firm, Bosta, declares office launch in Riyadh; eyes on global expansion in 2022

    Freight and Logistics firm, Bosta, declares office launch in Riyadh; eyes on global expansion in 2022

    The Internet – Are We Safe in the 21st Century?

    The Internet – Are We Safe in the 21st Century?

    An Ode to the 5 Arab Women Reigning the Business World

    An Ode to the 5 Arab Women Reigning the Business World

    Nine women entrepreneurs at the helm of crypto success in 2022

    Nine women entrepreneurs at the helm of crypto success in 2022

    Top 10 Countries Considered as the Best Business Hubs in 2022

    Top 10 Countries Considered as the Best Business Hubs in 2022

    Accel unveils a new USD 650 million fund for India and Southeast Asia

    Accel unveils a new USD 650 million fund for India and Southeast Asia

    Riyadh: The Saudi-Kyrgyz business forum at FSC in 2022 boosts the two countries’ relations

    Riyadh: The Saudi-Kyrgyz business forum at FSC in 2022 boosts the two countries’ relations

    Meta for MENA; SMEs receive boost in 2022

    Meta for MENA; SMEs receive boost in 2022

  • Awards
No Result
View All Result
The Global Economics
No Result
View All Result
Home Banking Islamic

HDC launches GO Halal with a RM100 million fund portfolio

GO Halal fund for SMEs helps in capacity building, halal advisory services, funding for Halal certification processes and capital expenditures

The Global Economics by The Global Economics
June 29, 2021
in Islamic, Funds, Retail
Reading Time: 2 mins read
0
HDC launches GO Halal with a RM100 million fund portfolio

HDC launches GO Halal with a RM100 million fund portfolio

752
SHARES
4.2k
VIEWS
FacebookTwitterRedditWhatsAppLinkedInShare Link

Bank Islam Malaysia and the Halal Development Corporation (HDC) have launched an SME Finance program GO Halal with a RM100 million fund portfolio to develop the halal ecosystem in Malaysia. SMEs financing plays an important role in building the Malaysian economy, especially in terms of developing an ecosystem and halal-centered industry.

 As part of the campaign to promote the economy, Datuk Seri Mohamed Azmin Ali, Malaysia’s Senior Minister for International Trade and Industry, said the fund will assist small and medium businesses (SMEs) to increase their skills, reskill, and build capacity.

Finance loan provides opportunities for approximately 300 local small and medium-sized enterprises, particularly Bumiputera-owned firms to participate more actively in the Halal industry. In light of the post-COVID-19 situation, the Minister explained that such loan concepts would assist small and medium scale businesses meet their goals in the halal sector. He also stressed the importance of collaboration between Islamic financial institutions and the HDC in similar schemes that benefit the economy.

As of December 2020, there were nearly 6,727 small- and medium-size Halal certified companies. He noted that only 1,507 of these SMEs dealt with exports, so there is still much room for growth. The preliminary Halal Industry Master Plan included RM19 billion as its target. By contrast, the total Halal exports have exceeded the target to reach RM31 billion.

Chief executive officer (CEO) of Bank Islam Mohd Muazzam Mohammed noted that the GO Halal SME Financing Program will offer training and halal advisory services, funding Halal certification processes, Takaful contributions, working capital, and capital expenditures.

SME contribution to the economy, increased from 38.9% in 2004 to 38.9% in 2019, according to data released by the Department of Statistics Malaysia (DOSM) in July last year.

As part of the program, the entrepreneurs are not required to put up collateral to obtain financial assistance. It is still mandated to be an HDC member with an active business that was profitable in a minimum of one year.

The program finances sole proprietorships and partnership businesses from RM100,000 to RM1 million, and Sdn Bhd businesses from RM100,000 up to RM3 million repayable within 7 years.

According to S&P Global Ratings, the Islamic finance industry is worth $2.2 trillion, and is expected to grow 10%-12% in 2021-2022. As a result of the high bond issuance, Islamic finance markets have gained ground.

Tags: FinanceLoanHalalCertifiedHDCIslamicFinanceMalaysianEconomysme
The Global Economics

The Global Economics

The Global Economics Limited is a UK based financial publication and a bi-annual business magazine giving thoughful insights into the financial sectors on various industries across the world. Our highlight is the prestigious country specific Annual Global Economics awards program where the best performers in various financial sectors are identified worldwide and honoured.

Related Posts

Abu Dhabi-based Borouge sets offer price for IPO at USD0.66 per share at a valuation of USD20 billion
Funds

Abu Dhabi-based Borouge sets offer price for IPO at USD0.66 per share at a valuation of USD20 billion

by Sunil Bolar
May 23, 2022
Egypt to receive USD41.5 billion of investment in hydrogen projects through 2030
Funds

Egypt to receive USD41.5 billion of investment in hydrogen projects through 2030

by Sunil Bolar
May 19, 2022
New AI startup by Co-founders of DeepMind and LinkedIn raises USD 225 million
Funds

New AI startup by Co-founders of DeepMind and LinkedIn raises USD 225 million

by Sunil Bolar
May 18, 2022
Vodafone shares up after USD 4.4 billion UAE stake buy
Funds

Vodafone shares up after USD 4.4 billion UAE stake buy

by Sunil Bolar
May 17, 2022
Ather Energy raises USD128 million in series-E funding
Funds

Ather Energy raises USD128 million in series-E funding

by Sunil Bolar
May 16, 2022
Previous
Next
Previous
Next
Previous
Next
Previous
Next
Previous
Next
Previous
Next
Previous
Next
Facebook Twitter Instagram Youtube LinkedIn
The Global Economics

The Global Economics Limited is a UK based financial publication and a quarterly business magazine giving thoughtful insights into the financial sectors on various industries across the world. Our highlight is the prestigious country specific Annual Global Economics awards program where the best performers in various financial sectors are identified worldwide and honoured.

DMCA.com Protection Status

  • Privacy
  • Legal
  • Terms of Use
  • Client’s Voice
  • Server Status

norton verified - the global economics

Latest Posts

Pakistan's 1st fintech M&A deal: ZoodPay acquires Tez Financial Services

Pakistan’s 1st fintech M&A deal: ZoodPay acquires Tez Financial Services

May 24, 2022
Abu Dhabi-based Borouge sets offer price for IPO at USD0.66 per share at a valuation of USD20 billion

Abu Dhabi-based Borouge sets offer price for IPO at USD0.66 per share at a valuation of USD20 billion

May 23, 2022
Egypt’s Communication Ministry launches new Ashbal Misr Digital Initiative for 2022

Egypt’s Communication Ministry launches new Ashbal Misr Digital Initiative for 2022

May 23, 2022
Download The Global Economics PWA to your mobile or Desktop
PWA App Download
Download The Global Economics Android App to your mobile or Desktop
Android App
Download The Global Economics IOS App to your mobile or Desktop
IOS App

All Rights Reserved © 2020 | 🇬🇧 The Global Economics, Business Finance Publication - www.theglobaleconomics.uk 🌏

No Result
View All Result
  • About us
  • Awards
  • Magazine
  • Client’s Voice
  • Exclusive Coverage
  • Nominate
  • Login
  • Sign Up

All Rights Reserved © 2020 | 🇬🇧 The Global Economics, Business Finance Publication - www.theglobaleconomics.uk 🌏

Welcome Back!

Sign In with Facebook
Sign In with Linked In
OR

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Sign Up with Facebook
Sign Up with Linked In
OR

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Receive the latest news

Subscribe To Our Weekly Newsletter

Get notified about new articles, delivered right into your email inbox.

Go to mobile version