Sheikh Abdullah Saleh Kamel, chairman of the Islamic Chamber of Commerce and Development (ICCD), has affirmed that the Halal economy is a strategic pillar for building an integrated Islamic economy, positioning it as a critical engine for future growth alongside Islamic finance. His remarks were delivered at the 41st session of the Committee for Economic and Commercial Cooperation of the Organization of Islamic Cooperation (COMCEC) in Istanbul.
“The halal economy is the next engine of growth for the Islamic world,” Sheikh Kamel stated, emphasizing the need to globally restructure the Halal system and unify its supporting legislation and institutions. Such a move, he argued, would significantly strengthen the economic position of Islamic countries on the international stage.
A Strategic Vision for Islamic Economic Integration
Sheikh Kamel highlighted the ICCD’s 2030 strategy, which is designed to enhance economic integration among Islamic nations by empowering the Halal and Islamic finance sectors. These two pillars are considered fundamental to the modern Islamic economy.
The strategy also aims to revitalize institutional efforts in entrepreneurship and sustainable development. Addressing the conference, Sheikh Kamel called on member states to invest in human capital and youth and to unify efforts towards achieving a cohesive Islamic economic integration that reflects authentic values and contributes to global development.
Saudi Arabia’s Leadership Role
The ICCD chairman underscored Saudi Arabia’s leading role in advancing the global Halal economy through its adoption of innovative initiatives. He commended the Public Investment Fund’s (PIF) strategic decision to establish a specialized company for developing Halal products, viewing it as a pivotal step towards building a Saudi industry with significant international influence in the sector.
Special thanks were extended to Saudi Arabia’s Minister of Commerce, Dr. Majed Al-Qasabi, for his continued support of joint initiatives, particularly the Makkah Halal Forum. Sheikh Kamel noted that this support embodies the Kingdom’s ambitious vision to establish Makkah as a global hub for the Islamic economy.
Redefining Halal for a Global Audience
Sheikh Kamel elaborated that the concept of Halal has transcended its religious origins to become a global economic system rooted in divine values for both production and consumption. He noted that this system is gaining significant momentum, driven by a growing global demand for products and services that merge high quality with ethical responsibility.
The Makkah Halal Forum A Global Platform
The Makkah Halal Forum is a cornerstone of the ICCD’s future projects. It is envisioned as a global platform that convenes decision-makers, investors, and experts from across continents.
“The Islamic chamber is working to develop it into an annual meeting point, reflecting Saudi Arabia’s position in establishing Makkah as a global center for the Islamic economy and its authentic values,” Sheikh Kamel explained.
The forum’s objectives include unifying standards, fostering strategic partnerships between public and private sectors, and supporting innovation in the development, financing, and global marketing of Halal products.
About The Islamic Chamber of Commerce and Development (ICCD)
The Islamic Chamber of Commerce and Development (ICCD), formerly the Islamic Chamber of Commerce, Industry and Agriculture (ICCIA), is an affiliated institution of the Organisation of Islamic Cooperation (OIC). It represents the private sector of the 57 member states, aiming to strengthen economic and commercial cooperation among them. The ICCD focuses on promoting trade, investment, and entrepreneurship to foster sustainable development across the Islamic world.
Source: Zawya
