The Official Launch Of Zilzar.Com

By October 29, 2014 Speeches
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Bismillahirrahmanirrahim.

Assalamualaikum Warahmatullahi Wabarakatuh and Good Morning.

Yang Berbahagia Tun Musa Hitam;

Chairman, WIEF Foundation,

Yang Berbahagia Dato’ Dr. Vaseehar Hassan Abdul Razack;

Chairman of ZILZAR,

Distinguished Guests,

Ladies and Gentlemen,

This year’s World Islamic Economic Forum is focused on ‘Innovative Partnerships for Economic Growth’.

A perfect example of such partnerships working for the common good is the coming together of the halal industry and Islamic finance: a long overdue merger that could fuel the Islamic economy for decades to come.

Already, that economy is worth US$7 trillion – the fourth largest economic bloc in the world. And by bringing the two most distinctive aspects together, we can unlock new economic opportunities – for our people, our businesses, and our countries.

Halal bonds Muslims throughout the world, and also forms part of our identity. But it can also have a much wider appeal. In Malaysia, halal certified goods and services are everywhere – and they are used by everyone, regardless of religion.

In fact, our diversity is one of the reasons that Malaysia is so prominently represented in the global halal market. We are used to creating products which are Shariah compliant, but also consumer friendly – and building the ecosystem and institutions to support them.

That includes Islamic finance. A decade ago, we launched the world’s first sovereign sukuk. The total global financial assets of the Islamic financial industry is now estimated to be more than US$2 trillion. It is bringing new opportunities for investors, businesses and nations.

Ladies and Gentlemen,

Islamic banking was largely unaffected by the global financial crisis; it should now have the mandate and the confidence to move forward and take on a stronger leadership role in the world of banking.

Now, as the global Islamic economy matures, these two key sectors – halal goods and Islamic finance – are converging, and creating whole new classes of economic activity.

Ladies and Gentlemen,

Today, I am pleased to be invited here to launch Zilzar.com, the new online platform designed to make it easier for halal traders around the world to do business online ethically and efficiently. It is free-to-use, and will connect millions of consumers, whilst offering businesses a slice of the $2.5 trillion Muslim lifestyle market.

The halal industry encompasses everything from food to pharmaceuticals. But its Small and Medium Enterprises in particular are globally dispersed. They are demanding and crying out for greater connectivity – and for more concise information about market access and opportunities. It is our hope that Zilzar.com can meet these needs and take global halal trading to a new and exciting level.

The environment and conditions are perfect for this new innovative partnership for economic growth. There are more than 1.8 billion Muslims, living in 150 countries around the world; and their appetite for e-commerce is strong and growing. The Islamic market is larger than China’s, and growing faster that Amazon and e-Bay combined. What Alibaba is to the Chinese market, Zilzar.com can be creating new businesses and jobs, and bringing Islamic finance to new markets.

Ladies and Gentlemen,

I wish Zilzar.com all the best and indeed, this will catalyse further the global halal eco-system. This is a dynamic network of businesses, institutions, government agencies and non-government organisations all pulling together for the common good. I wish Zilzar.com every success and I hope it will serve as a beacon of halal awareness, co-operation and success throughout the world.

With that and with the recital word of Bismillahirrahmanirrahim, I now launch ZILZAR.com.

Thank you.

Wabillahitaufik Walhidayah Wassalamualaikum Warahmatullahi Wabarakatuh.