Words of Wisdom - the Editor

Peace.
Got busy with a new project. So couldn’t add more news. Although I came across a fine article by a brother on the history and future of Islamic Banking. I was surprised to know that Islamic banking had beginnings in 1975. Wow. That’s almost as early as my birth. And I guess if there are enough like minded people any idea is bound to grow. I too used to wonder if I can invest without plunging into interest based transactions.

UK I noticed is taking some fine initiatives to promote Shariah Finance. Also came across a western brother or atleast who calls Muslims his brothers and sisters but laughs cynically at the DOW Islamic index as 'bending backwards' to accommodate those guys who have four wives and cut of peoples hands. O well some people just don't get it, do they?

Saturday, May 24, 2008

Attractive Incentives To Draw Businesses To Halal Industry In Malaysia

KUALA LUMPUR - The government is offering attractive incentives to draw businesses in the halal industry in Malaysia.

They include investment tax allowances, perks for export of halal products and exemption of duties for the import of raw materials, Prime Minister Datuk Seri Abdullah Ahmad Badawi announced here, Monday.

He said there would also be goodies for halal parks and logistics operators to facilitate an optimal supply chain and infrastructure as well as pioneer status for cold room storage operations.

Elaborating, Abdullah, who is also Finance Minister, said there would investment tax allowances or exemption on statutory income from export sales for industry players in specialty processed foods, cosmetics and personal care, pharmaceuticals, halal ingredients and livestock and meat products.

"There will be exemption from import duty on raw materials as well as double deduction on expenses incurred in obtaining international quality standards," he said in the keynote address at the World Halal Forum 2008.
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