Istanbul, (SONNA) — The President of the Islamic Chamber of Commerce and Development, Abdullah Saleh Kamel, underlined that the halal economy has become a strategic pillar of the integrated Islamic economic system, representing one of its two essential wings alongside Islamic finance. He stressed that the time has come to restructure the global halal system and unify the legislation and institutions governing it, in order to strengthen the standing of Islamic countries in the global economy.
Kamel’s remarks came during the 41st session of the Standing Committee for Economic and Commercial Cooperation of the Organization of Islamic Cooperation (COMCEC), inaugurated by Turkish President Recep Tayyip Erdoğan at the Istanbul Congress Center. The session gathered ministers of economy and trade from member states, along with senior officials from Islamic and international organizations.
The Chamber President noted that the halal concept extends beyond its religious significance to embody a comprehensive global economic system grounded in divine values across production and consumption. He added that this system continues to gain international momentum amid rising global demand for products and services that combine quality with ethical responsibility.
Kamel highlighted the Kingdom of Saudi Arabia’s leading role in advancing the global halal economy through innovative initiatives aimed at bolstering the position of Islamic countries in this promising sector. He commended the Public Investment Fund’s initiative to establish a specialized company for the development of halal products, describing it as a strategic move toward reshaping the global halal landscape and building a Saudi industry with international influence.
He also extended his appreciation to the Saudi Minister of Commerce, Majid bin Abdullah Al Qasabi, for his continuous support of joint initiatives, particularly the Makkah Halal Forum, one of the Chamber’s most significant upcoming projects. Kamel emphasized that Al Qasabi’s support reflects Saudi Arabia’s ambitious vision to position Makkah as a global hub for the Islamic economy and its authentic values.
“The Makkah Halal Forum serves as a global platform that brings together decision-makers, investors, and experts from across continents,” Kamel said. “The Islamic Chamber is working to make it an annual gathering that underscores the Kingdom’s pivotal role in establishing Makkah as a center for the Islamic economy. The forum aims to unify standards, foster public-private partnerships, and encourage innovation in halal products, financing, and global marketing.”
He further explained that the Islamic Chamber of Commerce and Development’s 2030 strategy seeks to deepen economic integration among Islamic countries by empowering the halal and Islamic finance sectors—both key pillars of the modern Islamic economy—while revitalizing institutional efforts in entrepreneurship and sustainable development.
Concluding his remarks, Kamel urged OIC member states to invest in human capital and youth, and to unify their efforts to achieve economic integration that reflects Islamic values and contributes to global development. He emphasized that the halal economy represents the engine of future growth for the Islamic world and a vital key to leadership in the sustainable global economy.
Source: MENA
