International IFPA and Nur Tobe LLP discuss future cooperation

International Islamic Food Processing Association (“IFPA”) and Nur Tobe Limited Liability Partnership (“Nur Tobe”) agreed to develop cooperation in the sphere of food processing sector.

Nur Tobe is a diversified and multi-project enterprise that incorporates flax-seed oil production, pasta producing plants, bakery manufacturing and possesses approximately 30,000 hectares of agricultural land. It cultivates durum species of wheat commonly used in pasta production which typically are planted in the spring and harvested in the fall, as it is well adapted to the hot and dry conditions surrounding the northern Kazakhstan region where it’s manufactures reside. Nur Tobe aims to apply conventional pressing of flaxseed, which is a simple and low-cost producing process and can obtain higher income with lower investment.

Director of Nur-Tobe, Mr. Timur Bergaliyev during the meeting noted that: “We are committed to continuous innovation and improvement practices in the oilseed, pasta, and bakery production sector to increase sustainability, productivity, and product quality and aim to work very closely with IFPA in its value-added services. Support measures from IFPA’s pool of investors will facilitate this industry development with subsidies to reimburse part of the costs for production.”

The Director General and CEO of IFPA, H.E. Sheikh Bilal Khan welcomed satisfaction towards this new impetus given to cooperation and noted that: “close business cooperation between IFPA and Nur Tobe in agri-food trade and investment through the platform of IFPA focusing primarily on the use of Islamic finance, investment funds, Shariah structuring, Sukuk listing, and other Islamic investment instruments will develop the much-needed infrastructure, technology, storage and distribution facilities, thereby catapulting new export opportunities of value-added secondary and tertiary processed food products for entities such as Nur Tobe and others in the sector.”

International IFPA and Iman Investment Company discuss cooperation in the electronic trading finance platform

International Islamic Food Processing Association (“IFPA”) and Iman Investment Company (“Iman”) agreed to develop cooperation in the sphere of digitial Islamic trade finance. Iman is one of the major Islamic electronic trading platforms of Uzbekistan that was established to aid the practices and lifestyle of the community and manage their finances with a service that is fast, secure, intuitive and seamless.

During the online meeting Сhief Financial Officer of Iman Mr. Marc Zubov mentioned that: “the Central Asian region has been becoming one of the fastest-growing emerging markets demographically, economically, and digitally, with continuous improvements in digital connectivity and technology readiness, and the demand for digital services is starting to take hold. Facilitating online trade transactions improves efficiency across the entire trade cycle. By embracing technology through e-platforms, we can ensure greater visibility, transparency, accountability and control in the trade of strategic commodities. Iman is very keen to cooperate with IFPA to enhance connections and strategic partnerships in OIC member countries to capitalize on the digitalization of global Islamic trade.”

The Director General and CEO of IFPA, H.E. Sheikh Bilal Khan, remarked: “Central Asia with its strategically advantageous location has immense potential for economic development. Trade in agricultural goods offers a great opportunity for export to both regional and international markets. IFPA is ready to cooperate with Iman to develop Shariah-compliant digital solutions and the Islamic financial products allow intra-OIC entrepreneurs and financial institutions to use customer-first approach and streamlined services of its epic best-of-breed technologies.”

International IFPA held and TechnoLeasing company discussed future cooperation

International Islamic Food Processing Association (“IFPA”) and Limited Liability Partnership TechnoLeasing (“TechnoLeasing”) had a bilateral meeting to discuss prospects of cooperation.

TechnoLeasing was established in 2010, and currently, it is a full-fledged player in the local equipment leasing market. According to the Committee on Statistics of the Republic of Kazakhstan, in 2019 the company was leading among private companies with leasing portfolio.

During the meeting, parties discussed the importance of machinery and production equipment that represent major cost in crop production operations. These costs can challenge an enterprise’s cash flow, but properly managing them can help agri-producers effectively and efficiently recapture gross margin. Managing Director of TechnoLeasing Mr. Dmitry Kogai noted that: “through finance leasing of farm equipment, TechnoLeasing purchases the assets and rents them out to companies over an agreed term with monthly repayments. Whether it is a milking parlour, growing crops, or breed livestock, we offer from basic tractor financing to more specialist equipment like combine harvesters or milking machines. The cooperation with IFPA is important for us, as we are striving to enhance connections and strategic partnerships to facilitate agricultural leasing using Islamic leasing instruments such as Ijara and related models through the engagement of agricultural service organizations of intra-OIC countries.”

The Director General and CEO of IFPA, H.E Sheikh Bilal Khan, remarked: ”IFPA is ready to expand its cooperation with TechnoLeasing for developing investment projects in agricultural leasing through offering various private sector options for improving agricultural mechanization related to the use of Islamic finance especially Ijara-based models, Islamic investment agency and leasing funds, Shariah structuring, and other Islamic investment and financing instruments to foster profitability of micro, SME and large-scale enterprises as well as expanding wider cooperation between all ecosystem businesses and agri-food companies across the OIC and IOFS markets.”

International IFPA and Uzbekistan Investment Promotion Agency agreed to develop cooperation in agri-food sector

International Islamic Food Processing Association (“IFPA”) and Investment Promotion Agency of the Republic of Uzbekistan (“Agency”) held a bilateral meeting to discuss future cooperation.

Established in 2019 by the decree of the President as a subordinate body of the Ministry of Investments and Foreign Trade of the Republic of Uzbekistan, the Agency aims to promote sustainable socio-economic development by attracting foreign investment in priority sectors of the economy and acts as a representative of the Government of the Republic of Uzbekistan in discussing and implementing investment projects.

Mr. Ulugbek Abruev, first Deputy Director of the Agency, conducted a comprehensive and informative presentation about strategic tasks and directions of the Agency, and he especially noted that: “as the primary interface to attract and facilitate investments, the Agency strives to develop cooperation with IFPA to enhance connections and strategic partnerships in the investment of the wider food supply chain and further development of export markets between businesses and food companies of intra-OIC countries for the benefit of Uzbekistan.”

The Director General and CEO of IFPA, H.E Sheikh Bilal Khan, remarked: “I welcome this important initiative for collaboration on activities and projects in supporting agri-food investors via the Agency for the Uzbek market which has a potentially huge pipeline of investment projects where IFPA can add value through its OIC-wide network for Shariah structuring, Sukuk listing, Islamic investment funds and other Islamic instruments. The joint efforts of IFPA and the Agency will promote all relevant agri-food projects of Uzbekistan vis-à-vis the OIC member states and thus increase the intra-OIC trade competitiveness.”

International IFPA and Bio Prom Technologies signed a collaboration agreement

International Islamic Food Processing Association (“IFPA”) and Limited Liability Partnership BioProm Technologies (“BioProm”) signed a mutual agreement whereby BioProm will join IFPA as a corporate member. Corporate membership will offer BioProm the opportunity to have access to all privileges and benefits of IFPA and the eligibility to receive IFPA’s targeted services in attracting Islamic investment and financing.

Established in 2012, BioProm is now one of the main producers of high-quality potato seeds, tubers and potato planting materials with the major aim to conduct research and development in the field of biotechnology of potato cultivation. Representative of BioProm, Mr. Balpanov Darkhan noted that: “potato is one of the most important vegetable crops, and Kazakhstani potato growers currently can fully provide the domestic market with products and substitute imports. However, potato is arguably the crop that can benefit most from modern biotechnology. The cooperation with IFPA is important for us, as we are aiming to develop innovative agritech-based solutions to enhance the export of affordable nutritious food and reduce production costs to extend the marketability of newly developed varieties”.

The Director General and CEO of IFPA, H.E Sheikh Bilal Khan remarked that: “IFPA is ready to expand its efforts with BioProm in agri-food technologies to develop investment projects focused on agricultural system related technologies to facilitate innovative science-based solutions related to the use of Islamic finance, investment funds, Shariah structuring, and other Islamic investment instruments to foster profitability of small and large scale enterprises and expanding of cooperation between businesses and food companies of intra-OIC countries most beneficial to BioProm and its targeted OIC markets.”

InternationaL IFPA and Food Industry Association of Uzbekistan signed a bilateral agreement

International Islamic Food Processing Association (“IFPA”) and Food Industry Association of the Republic of Uzbekistan (“Association”) signed an honorary membership agreement.

During the virtual meeting, the parties discussed the benefits of future cooperation. Honorary membership will offer the Association the opportunity to have access to all privileges and benefits of IFPA and the eligibility to receive IFPA’s targeted services in attracting Islamic investments and financing.

The Association registered by the Ministry of Justice of Uzbekistan on October 29, 2020, was established with the major goal to protect the rights and interests of Uzbek food enterprises; widely represent domestic products on the foreign market; promotion, protection, and enhancement of entrepreneurship and it brings together about 70 different enterprises. The Chairman of the Association, Mr. Bahodir Umirshayxov noted that: “the partnership with IFPA is important for us, as we are aiming at strengthening agricultural supply chains, increasing food safety, developing agri-insurance, and improving access to finance and investments for farmers and entrepreneurs that will help us become more efficient and expand our capacity to supply consumers with high-quality agri-food products.”

 Meanwhile the Director General and CEO of IFPA, H.E. Sheikh Bilal Khan remarked that: “IFPA is very pleased to welcome the Association as one of its key honorary members in Uzbekistan which belongs to a fast growing region within the OIC network of IFPA and through our effective coordination and collaboration, we will help increase the contribution in attracting foreign direct investments and Islamic financing into the Uzbek market to boost new trade corridors and the potential of the agri-food sector for exports into both the CIS region and the wider OIC markets with special focus on Islamic investments in infrastructure, logistics and technology enablers.”

International IFPA and Izdehar Company discuss future cooperation

On September 22 2021, International Islamic Food Processing Association (“IFPA”) held a meeting with the representatives of the IZDEHAR Palestine Prosperity Investment Development (“IZDEHAR”).

IZDEHAR was established in 2019 by a group of development driven investors with the aim to initiate and develop large-scale commercially viable projects including Energy, Industrial Zones, Waste Management, Agriculture and Affordable Housing sectors.

During the meeting, Mr. Majdi Haj Khalil, Institutional and International Relations representative and Mr. Issam Gharayba, Manager of IZDEHAR discussed with H.E. Sheikh Bilal Khan, Director General and CEO of IFPA about prospect cooperation and IZDEHAR’s agricultural projects such as animal feed manufacturing plant that will offer complete feed pelleting plant solutions to the global animal feed and livestock industry, the vegetable oil extraction factory with a production capacity of 120 tons per day and construction of grain storage creating enabling environment for grain production and storage.

The Director General and CEO of IFPA, H.E Sheikh Bilal Khan remarked that: “IFPA is ready to consolidate its efforts with IZDEHAR to develop bespoke agricultural investment projects to facilitate profitability of small and large scale enterprises and expanding of cooperation between businesses and food companies of Palestine and intra-OIC countries to increase the volume of mutual trade and food supplies through engagement and enhancement of investments related to the use of Islamic finance, investment funds, Shariah structuring, and other Islamic Investment instruments as well as tailored capacity building training programmes in especially designed areas delivered by IFPA and its training partners.”

The Director General and CEO of IFPA and the representative of IZDEHAR expressed their mutual interest for closer cooperation in the very near future to exactly define the framework for involvement of IZDEHAR as a corporate member of IFPA.

IFPA and the Union of Food Enterprises signed the honorary membership agreement

International Islamic Food Processing Association (“IFPA”) and Union of Food Enterprises of Kazakhstan (“Union”) agreed to develop cooperation in the agri-food sector.

Established in 1992 by leading food industry manufacturers of Kazakhstan, the Union is a non-profit organization that brings together more than 50 companies with the primary goal to protect the rights and interests of domestic food enterprises, widely represent domestic products on the foreign market, promotion, protection, and enhancement of entrepreneurship and innovation within the food industry, consulting and expert assistance in the implementation of food safety HACCP standards and participating in policy regulation of the food sector and develop business cooperation with foreign investors and partners.

The food industry is now facing trade barriers and tariff restrictions that create adverse effects for the export of agri-food productions. “The solution lies in the Union’s cooperation with IFPA to create a single export coordination platform to support supply chain linkages between food producers and large food retailers operating in Kazakhstan, and support their direct access to foreign markets”, noted the Executive Director of the Union, Mrs. Marina Sabralieva.

The Director-General and CEO of IFPA, H.E. Sheikh Bilal Khan noted that: “IFPA is very interested in establishing a partnership with the Union and especially in developing a unique platform for expanding cooperation between businesses and food companies and ensuring access to the markets of all OIC countries to increase the volume of mutual trade and food supplies focusing mainly on the engagement and enhancement of investments related to the use of Islamic Finance, investment funds, Shariah structuring, and other Islamic Investment instruments.”

International IFPA and “FRUIT ART” LLP signed an agreement

International Islamic Food Processing Association (“IFPA”) and Fruit Art Limited Liability Partnership (“Fruit Art”) held a bilateral meeting to sign a Corporate Membership Agreement.

Fruit Art is an export-oriented fruit and berry cluster set to drive the development of this industry beyond the domestic market through innovative deep processing technologies. The Chairman of Fruit Art, Ms. Aiman Tursynkhan delivered a very informative presentation about the current fruit and berry growing sector in Kazakhstan. She mentioned: “horticulture is now one of the most promising crop production areas with a significant potential for import substitution. Support measures by investors will facilitate this sub-industry development with subsidies to reimburse part of the costs for perennial fruit and berry plantations, preferential investment, and short-term lending. We are committed to continuous innovation and developing sustainable practices in the industry and working very closely with IFPA”.

The Director General and CEO of IFPA, H.E. Sheikh Bilal Khan welcomed the Fruit Art company for joining IFPA as a Corporate Member and expressed that: “IFPA is very interested to establish a business partnership with such an important corporate member especially in developing bespoke projects and creating tailored services in fruit and berry clusters focusing mainly on the engagement and enhancement of investments related to the use of Islamic finance, investment funds, Shariah structuring, and other Islamic investment instruments with the overall aim to grow its domestic and regional market share and export to relevant OIC markets”.

International IFPA and United Chemical Company discuss prospects of future cooperation

International Islamic Food Processing Association (“IFPA”) had a bilateral meeting with the Managing Director of the United Chemical Company (“UCC”).

UCC was established in 2009 to develop and implement investment projects in the chemical industry, with its sole shareholder being Samruk-Kazyna Sovereign Welfare Fund JSC.

During the meeting, Mr. Zhankubayev Berik, Managing Director for Business Development of UCC discussed about company’s main activities, which largely involve the implementation of investment projects in the chemical industry, the subsurface use field and the development of new chemical production facilities in Kazakhstan. He noted that: “сhemical industry of Kazakhstan over the past 20 years has undergone various changes, and UCC is now focusing on development of competitive production facilities in chemical industry to manufacture high-tech, export-oriented and innovative products with high added value”.

The Director General and CEO of IFPA, H.E. Sheikh Bilal Khan remarked that: “IFPA is very keen to develop close cooperation with UCC to create special services in attracting Islamic investments and financing to projects in the chemical industry related especially to agri-food projects. The proper development of the related industries plays a huge role in the overall sustainability of the food industry, as various types of chemical substances are used in food production and if done properly, food processing can be harmless and beneficial, such as drying, pasteurization, cooling, fermentation, cleaning and washing. They are crucial for maintaining high-quality agri-food products”.

The parties agreed to continue their mutual discussions to exactly define the framework for close cooperation in developing investment projects in the related industries.