Categories: MoneyNews

Simplifying halal certification for MSMEs

MAYBANK Islamic Bhd has partnered with Synxsoft Sdn Bhd, a digital software development company, to streamline the halal certification process for micro, small and medium enterprises (MSMEs). 

The collaboration, currently available in Kuala Lumpur and Selangor, will expand nationwide in January 2024. 

Synxsoft, known for its halal platform, CoreHalal, offers Maybank Islamic customers access to an online assessment tool called “Taqyim” to evaluate their halal readiness and simplifies halal document management through the halal assurance system. 

Maybank Islamic CEO Datuk Mohamed Rafique Merican expressed the goal of making halal certification more accessible and dispelling the perception that it is costly and complex. 

The initiative aims to increase the number of Department of Islamic Development Malaysia (Jakim) halal-certified businesses within Maybank Group and Malaysia, supporting MSMEs in their growth and resilience. 

As of July 2023, Maybank group serves 3,897 halal-certified customers with a total of RM3.3 billion in banking facilities, targeting an increase to 4,200 certified companies by the end of the next year.

The halal industry’s importance in Malaysia’s economic development is on the rise, with expectations of reaching US$113.2 billion (RM539.96 billion) by 2030, contributing 11% to the country’s GDP. 

At the collaboration launch, four food & beverage companies received halal certificates through Maybank Islamic’s halal initiatives programme. 

These companies anticipate the certifications to support their expansion locally and abroad, recognising the global acceptance of Jakim’s halal certification.TMR

  • This article first appeared in The Malaysian Reserve weekly print edition

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