World Halal Forum
CIMB Islamic Bank To Support Companies For Halal Venture
By BERNAMA
Mar 20, 2007, 16:27

KUALA LUMPUR, March 20 (Bernama) - CIMB Islamic Bank Bhd will support multinational and local companies in raising funds in the Islamic capital market for halal-related ventures, its chief executive officer Badlisyah Abdul Ghani said today.

"By the middle of this year, we will launch all our 383 branches nationwide for people to access financing for the halal industry," he told reporters after attending the World Halal Forum 2007 (WHF 2007) Industry Leaders brunch session here.

Also present were WHF 2007 chairman Khairy Jamaluddin and Halal Industry Development Corporation (HDC) chairman Tan Sri Dr Syed Jalaludin Syed Salim.

"Typically, we will continue with our investment banking, whereby we will support multinational and local companies which want to raise funds," Badlisyah said.

He pointed out that in raising funds in the capital market here it is "cheaper" to use the Islamic system than conventional financing.

On the value accumulated by the halal industry so far, Badlisyah said: "if we total the food and financial services, the amount is US$1.5 trillion."

CIMB Islamic's support for WHF 2007 is reflected by the fact that it is the sole platinum sponsor.

Khairy said that with Malaysia being acknowledged as an emerging global leader in Islamic finance, the partnership of CIMB Islamic with WHF 2007 underlines the common attributes and shared values of the two syariah-compliant industries.

"The collaboration and convergence of these two powerful market forces can strengthen Malaysia's global role in both Islamic finance and the halal market," he added.

He described it as a "wonderful case" of Islamic synergy that brings benefit to all.

Some 20 Malaysian companies, as well as the Tourism Ministry, are supporting WHF 2007. They include gold sponsors Northport Malaysia Bhd, Westports Malaysia Sdn Bhd and Allansons Ltd.

Silver sponsors include KFC Holdings (Malaysia) Bhd, Nestle (Malaysia) Bhd, Prima Agri-Products Sdn Bhd, MISC Integrated Logistics Sdn Bhd and LimKokWing University College of Creative Technology.

Others include CCM Bhd, Dindings Poultry Processing Sdn Bhd, Intertek Group, SICPA Product Security Sdn Bhd, Aron Sdn Bhd, Darabif Meat Company Sdn Bhd, Lembaga Tabung Haji Microlink Solutions Bhd, Royal Selangor and Islamic Development Bank.

-- BERNAMA


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