A new think tank focused on developing Europe’s halal economy promises to provide thought leadership, policy direction and professional development for the continent’s growing Shariah-compliant economy.
“The halal economy has multiple facets including food, finance, tourism, fashion and more.
However, the focus of this think tank will be the halal food and business sector, particularly Islamic finance,” said the Halal Economy Think Tank, launched by the Bahrain Institute of Banking and Finance (BIBF) and Spain’s San Telmo Business School.
“The first initiative the Halal Economy Think Tank will undertake would be aimed at food companies as well as entrepreneurs who want to tap into the ever-growing halal food market in Europe, through an executive program to be launched by the end of 2021.”
Based in Seville and Malaga, Spain, the think tank’s launch comes as competition in Europe’s Islamic finance sector heats up.
Spurred in part by Brexit, European nations including the UK, Ireland and Luxembourg have increasingly been vying for the status of European hub of Islamic finance. Experts see no signs that this trend is abating.
“The Halal Economy Think Tank will also provide a series of policy papers on these issues, which will be issued by the BIBF Islamic Finance Centre given its considerable experience in this space as oldest Islamic finance professional qualifications provider in the world,” the think tank said.
Mujtaba Khalid, head of the Islamic Finance Centre and executive director of the think tank, told Arab News: “The Muslim population in Europe has grown steadily over the past 50 years.—AN