Demand for Islamic funds has risen in the past three to six months as the global economic slowdown prompted investors to seek alternative investments to help manage risk, according to Germain Birgen, Luxembourg-based global head of HSBC Amanah Securities. The unit will help set up more than 30 Sharia-compliant funds globally.
Local communities in France’s immigrant suburbs increasingly organise themselves on Islamic lines rather than following the values of the secular republic, according to a major new sociological study.
Since 1 August, halal branches of Quick restaurants, France’s leading fastfood chain, have extended their business hours from 10 PM until midnight to accommodate their Muslim customers who have to wait until after sunset to eat. This is a first for Quick, which had not adjusted its business hours in previous years.
An overview on Halal in France, Russia, USA, UK and Europe. As numbers grow, Muslims continue to maintain purchasing habits that align with their Islamic faith. Muslims want to be able to look at a product and see a recognizable Halal logo. There is an increasing demand for products that are inclusive.
Eight French municipal representatives have made a request for a parliamentary commission on the halal meat market following a polemical documentary aired by Canal + at the beginning of the month of Ramadan.
French retailers and food manufacturers are realizing there’s money to be made by embracing halal, food produced according to Islamic law. Though sales tend to spike during Ramadan, halal is very much a year-round market.
Chilled processed food was one of the best performers within the broader French packaged food market in both value and volume terms in 2010. Sales were underpinned by strong demand for natural products beneficial to health and wellbeing, combined with increased innovation and consumers eating in more regularly.
Ocado is launching its own products and it yesterday unveiled a partnership with Carrefour to sell the French chain’s food products. Tim Steiner, Ocado’s chief executive, said the link-up was the first of many “speciality” ranges that would include Oriental, kosher, halal and diabetic foods
Paris is a treasure trove of restaurants showcasing food from all over the Middle East and North Africa, with a vast choice of patisseries and bakeries, gourmet caterers and halal butchers. Here is a short city guide for those looking to search for these places.
The rhetoric employed is one means by which Sarkozy hopes to win over those who usually place their trust in the National Front, a party that has been revived by Marine Le Pen, daughter of France’s best-known postwar xenophobe, Jean-Marie Le Pen. With the latest opinion poll showing that 72% of French people do not believe Sarkozy can win next year’s presidential election, there’s no doubt that he needs all the support he can get.
PARIS: International Trade and Industry Ministry (Miti) will be speaking to the Department of Islamic Development Malaysia (Jakim) as part of its effort to assist foreign companies to obtain halal certification.
A French economic consultants’ office said in a study published in December, 2010 that the Halal market in France has witnessed a noticeable development of which its financial returns amounted to 5.5 billion euro in 2010, pointing out that 4.5 billion were spent on food products and about one billion on restaurants.
The halal market in France is worth in the region of 5Billion Euros and is growing at an estimated 10% annually. The annual Halal Trade Fair is back in Paris this year, and business is booming.
Reaching a consensus on halal standards will be difficult among France’s diverse, disparate Muslim population. Lacking an international structure like the Catholic Church to replicate at the national level, French Muslims remained largely unorganized until 2003, when government authorities helped found the French Council of the Muslim Faith as the representative of France’s “official Islam.” However, the organization has continually been undercut by rival factions and clashing loyalties that have made uniting French Muslims under a single structure — or unified halal Code — impossible.
Nestle’s Position Statement on their withdrawal of Herta Halal products until full assessment has been made of the necessary supply chain needs.
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