DagangHalal aims to provide Muslims around the world with the ability to source and sell verified halal meat and other products and is expected to start trading on LSE in March.
“The global halal market is huge, and digital technology will bring that market into the 21st century,” said Mohamed Hazli Mohamed Hussain, CEO of DagangHalal.
Halal market growing
“More than $1 trillion is spent on Halal food and beverages each year and that figure is expected to grow to $1.6 trillion by 2018,” said Hussain. “Market participants want to be sure that the products they are buying are genuine halal and our HVE portal and e-marketplace is able, for the first time, to give complete confidence in product authenticity.”
The global halal market is a rapidly growing industry as the Muslim population is projected to grow from 1.6 billion in 2010 to 1.8bn in 2020, according to DagangHalal. “With widespread internet use and smartphone adoption across the world’s Muslim population, we now have the infrastructure to be able to check product authenticity anytime and anywhere,” added Hussain.
“DagangHalal now has the opportunity to consolidate its position in the industry, delivering a single platform and a focal centre for global Halal trade and the proposed placing and admission to AIM will enable us to accelerate our growth towards this ambition.”