Dubai’s selection as the host of the 10th session of the World Islamic Economic Forum 2014 — one of the world’s largest gatherings to share knowledge, experience and expertise in Islamic economy — is set to take the emirate a step closer to its vision of becoming the world capital of the Islamic economy. The emirate is already known as one of the leading financial hubs in the world.

As a UAE national financial in-stitution, Mashreq is committed to the growth of the industry through enhancing offerings based on market requirements.

Over 40 years, the bank played a vital role in the banking industry through its innovative approach in financial services. Mashreq’s rich heritage of local knowledge and regional extensive reach makes it one of the longest standing finan-cial institutions that has witnessed the evolution of the industry and complimented its development.

In its aim to provide holistic Is-lamic financial solutions, Mashreq Al Islami (MAI) offers a compre-hensive range of retail banking products and services including Mudaraba based savings and term investments, Wakala deposits with attractive profit rates, per-sonal, auto, and home financing solutions for individual needs with competitive profit rates, an Ujrah based-Islamic credit card, MAI

Suneeti Ahuja-Kohli

IslAMIc initiatives and Dubai’s endeavour to become the capital of Islamic economy will have a trickle-down effect on a number of in-dustries and sectors. While banking and finance remain central to the development of Dubai as

a hub for Islamic economy, the reach goes far beyond to encompass different industries and sectors. This includes the entire chain of financial services sector, food, ranging from meat and poultry products all the

way to non-meat foods and down to micro-ingredi-ents, flavourings and colourings; family-friendly trav-el; fashion and clothing; cosmetics and personal care; pharmaceuticals; and media and recreation.

In aggregate, the global expenditure of over 1.6 bil-lion Muslim consumers around the world on food and lifestyle is estimated to be around $1.62 trillion in 2012. As per a recently published state of the Global Islamic Economy 2013 report, this figure is expected to reach $2.7 trillion by 2018 — forming the potential core markets for halal food and lifestyle sectors.

Dubai’s initiative is a step to fill the demand and supply gap in the Islamic ecosystem. Work on this ambitious project began in full swing last year with the launch of a three-year programme by His High-ness shaikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE, and Ruler of Dubai.

The first major achievement on this front is the

Full suite of Shariah-compliantproducts and services

Filling the gaps

Islamic financial solutions are tailored for your everyday needs

While Islamic banking and finance remains at the heart of development of Dubai as a hub for Islamic economy, the reach goes far beyond to encompass multiple sectors

Tooran AsifCEO, Mashreq Al Islami

k h a l e e j t i m e s | A D V E R T I S I N G S U P P L E M E N T | S U N D A y , A U G U S T 2 4 , 2 0 1 4

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sTARTInG out as a feed producer in 1968, Banvit gradually went into the pro-duction of broiler chickens. Today, Ban-vit’s facility in Izmit, Turkey, is able to carry out all stages of vertical integration

regarding poultry production. It owns the largest broiler chicken processing facility under a single roof able to process 16,000 birds per hour and 75 million per year. This capacity is equal to the figures from economies of scale at leading poultry pro-ducers around the world such as the Us and Brazil.

Banvit has carried out production in compliance with the HAccP, an impor-tant inspection programme with regard to food safety. In addition, the scope of the IsO 9001 certificate issued by the BVQI in november 2000 was expanded to in-clude live production; the certificate was

updated in January 2002. Furthermore, the renewed waste treatment facility with a daily capacity of 3,500 cubic metres and 200 tonnes of liquid and solid waste respectively, started operating in Decem-ber 2001. On september 16, 2003, the IsO 14001 Environmental Management

systems certificate was awarded sepa-rately for chicken and turkey production, a rare accomplishment in the sector even in European Union member countries.

Over the years, Banvit has become a trusted source of halal poultry products with a reputation for producing premium

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Strictly adhering to food safetyBanvit owns the largest broiler chicken processing facility under a single roof that is able to process 16,000 birds per hour and 75 million per year

Banvit has carried out production in compliance with the HACCP, an important inspection programme with regard to food safety. In addition, the scope of the ISO 9001 certificate issued by the BVQI in November 2000 was expanded to include live production; the certificate was updated in January 2002.

quality products and frozen food in the growing Turkey food service sector. As one of Turkey’s pioneering poultry manu-facturers, Banvit has been working to-wards expanding its distribution channels to the Middle East. The first phase of this expansion saw the launch of a selected list of Banvit products in the UAE that were specifically tailored to the region’s taste and lifestyle. This phase com-menced with the distribution of poultry products in leading hypermarkets and general store franchises.

currently in planning and expediting the second phase of the expansion plan, Banvit has its eyes on other parts of the Gulf and levant regions. The goal is uni-fied with the aim to position the brand as one of the top food companies in Europe and the Middle East while keeping with the highest standard and quality of prod-ucts and through identifying key export opportunities and an efficient distribu-tion network.

also offers Islamic premium bank-ing services with dedicated cIsI qualified and shariah certified RMs, along with the best takaful offerings for life coverage and sav-ing plans via the region’s leading provider. On the wealth manage-ment side, MAI has the best per-forming Islamic income fund in the region, which has grown 49 per cent since its inception five years ago, and a top performing MAI Arab Tigers Fund, which has grown 18 per cent in 2014 alone. leveraged financing on sukuks and funds is also offered to the customers who are looking for shariah-compliant investments.

To the business banking cus-tomers, MAI provides collateral-free high financing amounts on Murabaha principles with dedi-cated RMs and transaction bank-ing facilities.

A great deal of emphasis is placed on ensuring a high level of shariah governance, as Mashreq Al Islami is overseen by a highly qualified and reputed shariah su-pervisory Board comprising shai-kh Abdulla suleman Al Manaei, shaikh nizam Yaquby and shaikh Dr Ali El Gari.

MAI launched advanced online and mobile banking applications, which is unmatched amongst the competition. Besides, MAI is the only Islamic player which offers salaam Rewards on the custom-er’s entire banking relationship, and these rewards can be re-deemed at 1,800 POs machines across the UAE instantly, an expe-rience which no other service pro-vider in the region offers.

Tooran Asif, cEO, Mashreq Al Islami commented, “Dubai is well on track on achieving its goal to become the world capital of the Islamic economy. The emirate has a tremendous opportunity and has a robust Islamic banking sys-tem that will drive the momentum to realise the dream.”

“At Mashreq Al Islami, we strive to provide our customers with a full suite of shariah-compliant products and services that meet the demands of their everyday lives. Islamic banking continues to evolve and we are equipped to adapt to the change to extend in-novative and exceptional banking experience to our customers.”

The Islamic products are dis-tributed through all the 45 branches of Mashreq where the bank places a great emphasis on training and certifying the RMs and sales officers.

On the corporate side, the bank offers institutional liquidity and in-vestment solutions, comprehensive trade financing, working capital, Wakala based financing, commod-ity Murabaha financing, Mush-arakah and Ijarah financing.

Full suite ofShariah-compliantproducts and services

Filling the gaps

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right to host the 10th World Islam-ic Economic Forum (WIEF) in Oc-tober this year. WIFE, a congrega-tion of top policy makers and thinkers, is expected to pave way for Dubai to achieve its goal soon-er than later. The forum is expect-ed to discuss ways to benefit from the growth of Islamic economy and the subsequent demand for Islamic products.

Islamic economy comprises of economic and commercial activi-ties that are compliant with the Islamic law — but also naturally accommodate all the relevant sec-tors of the economy driven by the Muslim population’s adherence to some sort of a faith-based activity that has an impact in the market. Experts suggest that its attributes are not that different from any economic ecosystem as it simply addresses the shariah-element and Islamic law in conducting the activities — whether on the suppli-er-side, the distribution side, or the consumer’s side.

— suneeti@khaleejtimes.com

Fatafeat TV celebrity and Meat and live-stock Australia MEnA’s corporate Execu-tive chef Tarek Ibrahim is the first Arab chef to be nominated and receive the cov-eted status of Master chef from the World Association of chef societies (WAcs). The title of Master chef is given to professional chefs who create innovative dishes of ex-ceptional quality, push boundaries with cre-ative concepts and hold a reputation for culinary excellence.

“There are very few chefs who gain Mas-ter chef status and it’s such a fantastic hon-our to receive this accreditation as an Arab chef and gain international recognition for my cuisine. I hope to inspire the new gen-eration of professional Arab chefs to go on to greater achievements and with my new show ‘100 lahma’ on Fatafeat TV impart my experience and knowledge to give home cooks more confidence in the kitch-

en,” says chef Tarek. chef Tarek’s new Fatafeat TV show ‘100

lahma’ (100 Meat) showcases the very best of lamb and beef dishes. The programme will have English subtitles. The show covers 100 delicious and nutritious halal meat recipes including culinary delights such as roast shoulder of lamb with garlic, beef wel-lington and Moroccan lamb tagine. The first show will air on June 24 at 13:00 (KsA) and will run for 60 days. ‘100 lahma’ will run three times per day. The highlights include chef Tarek’s lessons on preparation, use of different cuts and halal integrity.

A’saffa Foods s.A.O.G. is a market leader in poultry and food products and operates the largest fully inte-grated poultry project (parent farms, feed mills, hatchery, broiler farms, processing plant, slaughter house) in the sultanate of Oman. Established in 2001, A’saffa has achieved leader-ship in most of the product categories and succeeded in gaining good repu-tation through uncompromised qual-ity, stringent manufacturing stan-dards and conformity to international specifications. It has a growing export market with strong presence in areas including the UAE, Qatar, Bahrain, Kuwait and Yemen.

spread over an area of 40 square kilometre, A’saffa Foods is an IsO 9001, IsO 14001 and HAccP cer-tified company, and has implement-ed the same standards in all sections of the farm and processing plant. It adheres to the highest bio-security measures and stringent hygiene standards ensuring the chickens are free from any diseases. The state-of-the-art plant produces high quality fresh and frozen poultry products. notably, A’saffa poultry are fed with 100 per cent natural fodder (yellow corn and soya), produced in a highly equipped factory. The chicken is slaughtered manually by knife (real halal), as per the Islamic law (shari-ah), and do not use electrical shock before slaughtering.

“A’saffa chickens do not contain hormones, steroids, artificial flavour and colour or chemical preservatives, synthetic ingredient and are not arti-ficially injected with water to increase weight. It is all part of our effort to give consumers a natural product — making A’saffa a trusted name in 100 per cent natural, tasty and healthy food products,” says sidhartha len-ka, Head of sales and Marketing, A’saffa Foods.

A’saffa Foods gives an assurance to its customers in Oman, UAE, Qatar, Bahrain, Kuwait, Yemen and across

the region that they can buy chicken and food products with confidence knowing that it has been raised and slaughtered by hand using real halal techniques in accordance with Islam-ic shariah principles. contrarily, many poultry producers around the world use electrical impulses known as stunning to kill chicken.

The company made the announce-ment as markets in the region con-tinue to import produce from compa-nies around the world where there is no strong Islamic tradition.

A’saffa Foods, the leading food pro-ducer and exporter in Oman and the fastest growing in the Gcc, says con-sumers can truly buy chicken with confidence if they select home pro-duced foods prepared within an Is-lamic nation.

says lenka: “We believe that our products offer real halal to our cus-tomers here and in the region ensur-ing an authentic and credible prod-uct to families who buy our frozen, fresh and processed value-added range of products from the house of A’saffa Foods.

“Our state-of-the-art farm near Thumrait ensures birds are slaugh-tered by hand using a knife and pro-cessed in a way that is hygienic, fit for human consumption and offer the highest quality.”

A’saffa Foods claims that most oth-er poultry producers in the world use

techniques that are not real halal to kill birds. This includes the practice of stunning chickens with electricity be-fore they are killed.

“Using electricity dries the blood and fluid content of the bird which means a lot of dried blood and toxins remains in the flesh and veins and is therefore not hygienic. Through real halal slaughtering is done by hand from the top of the neck ensuring each drop of blood and toxin flows out of the bird and is hygienic for con-sumption,” he explained. secondly, worldwide during stunning three to four out of every 100 chickens die be-fore slaughter because of weak hearts which means halal is not guaranteed and anybody could be consuming those three to four chickens.

“some companies also use me-chanical devices to slaughter poultry which is also contrary to the strict guidelines that should be carried out to ensure that birds are slaughtered in accordance with proper Islamic shariah.”

A’saffa Foods employs Muslim-trained staff to slaughter chicken by hand at their farm. In accordance with shariah principles, the company’s staff members face the “Makkah” and recite “Bis miallah Allah ho Akhbar” each time they slaughter a bird.

“A’saffa”, “Khayrat” and “Taybat” processed value-added products are produced at the state-of-the-art, highly sophisticated automated plant. Burgers, fillets, fingers, nuggets, spring rolls, samosa, franks and other marinated products are some of the delicacies produced in this plant and catered to a large section of the soci-ety. A’saffa Foods has also forayed into frozen vegetable, frozen fruits, frozen fruit pulp, sea food and min-eral water.

Taking Arabic cuisine to the world

Purity guaranteed

Middle East’s first WACS Master Chef launches ‘100 Lahma’

A’saffa adheres to Islamic Shariah principles, offering the highest quality food products and hand slaughtered chicken

khaleej times / ADVERTISING SUPPLEMENTSUNDAy, AUGUST 24, 2014DubaI: The CapITal of IslamIC eConomy

There are very few chefs who gain Master Chef status and it’s such a fantastic honour to receive this accreditation as an Arab chef and gain international recognition for my cuisine. I hope to inspire the new generation of professional Arab chefs to go on to greater achievements and with my new show ‘100 Lahma’ on Fatafeat TV impart my experience and knowledge to give home cooks more confidence in the kitchen.

Chef Tarek

I I I

khaleej times / ADVERTISING SUPPLEMENTSUNDAy, AUGUST 24, 2014