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Entrance ticket to halal market is more available

08.04.2010

Due to the support of the Government of Tatarstan, the pilot project on the development of the halal farming business continues its work in Baltasinsky district.
Entrance ticket to halal market is more available
Due to the support of the Government of Tatarstan, the pilot project on the development of the halal farming business continues its work in Baltasinsky district.

According to experts (halalpages.ru, islamic-finance.ru, islam.ru, muslim-press.ru, islamnews.ru muslim.ru, etc), the main obstacles for the development of the halal business are:

- lack of basic production infrastructure,
- lack of experience in operating business start-up schemes,
- ignorance of civil and tax legislation,
- lack of halal financing sources and mechanisms.

Every businessman in the Halal Industrial Park (the HIP) Baltasi will have an opportunity to manufacture Halal products, be engaged in Halal activities and attract Halal investments. IFC “Linova” offers to equip a comfortable area, so that it could fit individual needs of businessmen, create a new business project within the limits of legislation, provide its technical and economic feasibility and raise funds.
The distinctive feature of the project is the delivery of outsourcing services, which can be a solution for businessmen in accounting, IT management, law and tax operations, and the provision of administrative support.

Entrepreneurs will choose types of business activities in the HIP Baltasi on the basis of local needs and market demand on agricultural goods. The most probable activities are meat processing, prefabricated meat production, offal processing, and sale of backyard products.
Business, operated in accordance with Islamic principles, transparency of business operations, availability of initial capital (not less than 30% of the sum needed) – these are obligatory requirements for the HIP members.

Such forms of business development are wide-spread in Malaysia and in the Arab World. Representatives of business communities from these countries are ready to invest in the project.
The results on implementation of the project will be presented at the II International Islamic Business and Finance Summit in Kazan on June 28 and June 29, 2010.

Aidar Karimov, IFC “Linova”.

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Malaysia's fast-growing Islamic finance sector benefits not only the Muslim world but also non-Muslim countries, said former Prime Minister Tun Abdullah Ahmad Badawi.

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