HDC And Public Islamic Bank Pledge RM200 Million To Fuel Halal Business Growth

HDC signs an MOU with Public Islamic Bank Berhad to empower Malaysian halal industry players by providing financial and business support to elevate their growth within the global halal economy

The Halal Development Corporation (HDC) has announced a strategic partnership with Public Islamic Bank Berhad to launch the Halal Engage program through the Halal Integrated Platform (HIP) aimed at empowering Malaysia’s halal industry players by providing financial and business support, further elevating their position within the global halal economy.

This partnership comes on the heels of Prime Minister Dato' Seri Anwar Ibrahim's remarks during the Global Forum on Islamic Economics and Finance in May, where he praised the collective efforts of Islamic banking institutions. The industry had previously pledged RM2.67 billion in financing facilities through HIP. Public Islamic Bank is now joining this initiative, pledging an additional RM200 million, boosting the total fund available to halal businesses.

Syamsul Azuan emphasized Public Islamic Bank’s dedication to fostering the growth of Malaysia’s halal industry

Syamsul Azuan Ahmad Fauzi, CEO of Public Islamic Bank Berhad, emphasized the bank’s commitment to supporting the growth of Malaysia’s halal industry. He highlighted the collaborative efforts with HDC through initiatives like the Jelajah Halal Malaysia and the World Halal Business Conference. "Public Islamic Bank is dedicated to helping halal industry players expand their operations through financing options for property acquisition, working capital, and sustainability-linked financing to assist customers in their sustainability transition,” he said.

Financial institutions should participate in supporting halal businesses in Malaysia, assisting them in integrating technology and expanding their operations - Hairol 

Hairol Ariffein Sahari, CEO of HDC, reinforced the importance of this partnership in advancing the Halal Industry Masterplan 2030, which aims to position Malaysia as a global leader in the halal economy. He called on more financial institutions to join in supporting halal businesses in Malaysia, helping them integrate technology and scale up their operations.

This MOU marks a significant step in Malaysia’s journey towards becoming a major global player in the halal market, providing local businesses with essential resources to thrive in the competitive global landscape. Through the Halal Engage program, Public Islamic Bank will provide crucial financial backing for halal companies, particularly small and medium enterprises, fostering sustainable growth within the halal sector.

Want to feature your press releases, exclusive interviews, or branded content on Kinihalal & Malaysiakini? Email us at [email protected] 

Join our Halal community to stay updated with the latest news and events.

Follow Kinihalal on: Facebook, LinkedIn, Instagram, and TikTok.