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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.”

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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.”

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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.

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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.”

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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”.

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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.

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International IFPA and Oil and Fat Association of Uzbekistan sign an agreement

International Islamic Food Processing Association’s (“IFPA”) delegation in Tashkent, Uzbekistan held a meeting with the Deputy Chairman of the Oil and Fat Association “Uzyogmoysanoat” (“Association”).

The Association is the trade entity engaged in oilseed extraction and oil and fat processing in Uzbekistan with more than 80 domestic producers. The key objectives of the Association are to promote the common interest of its membership through dealings with Government and other regulatory bodies.

Deputy Chairman of the Association, Mr. Kamar Serkayev noted that “the oil and fat industry is one of the fastest-growing and export-oriented sectors of Uzbekistan. The country plans to become one of the key exporters of oil and fat products to Central Asian countries and far abroad. For this purpose, Uzbek companies increase production volumes, modernize enterprises, and implement advanced technologies in the processing of the raw material”.

The Director General and CEO of IFPA, H.E. Sheikh Bilal Khan welcomed the Association for joining IFPA as an Honorary Member and expressed his satisfaction: “there are great opportunities for close business partnership between IFPA and the Association in agri-food trade and investment vis-à-vis Uzbekistan and other OIC markets through the platform of IFPA focusing mainly on the engagement to increase investments related to the use of Islamic finance, investment funds, Shariah structuring, Sukuk listing and other Islamic investment instruments.”

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Two-day Fourth General Assembly of IOFS kicks off in Kazakhstan

The Fourth General Assembly of the Islamic Organization for Food Security (“IOFS”) was inaugurated with keynote remarks by the Deputy Minister of Agriculture and Forestry of the Republic of Turkey, H.E. Mrs. Ayşe Ayşin Işikgece and following the rotation procedure, Her Excellency transferred the chairmanship from Turkey to Kazakhstan for one year term. At the handover ceremony H.E. Mr. Yerlan Baidaulet, the Director-General of IOFS expressed his appreciation for Turkey’s successful chairmanship.

During the session, the Minister of Agriculture of the Republic of Kazakhstan, H.E. Mr. Yerbol Karashukeev noted that “Central Asian export and trade share is scantily represented in the Islamic world economy, despite it possesses enormous potential and has highly untapped trade and investment opportunities for intra-OIC market. The Republic of Kazakhstan is one of the largest member countries which has more than 200 million hectares of agricultural land, which is world’s 4% resources. OIC markets have a huge demand for value-added high-quality products of Kazakhstan and the country is eager to contribute to strengthen OIC food industry and security”.

The Director General and CEO of the International Islamic Food Processing Association (“IFPA”), H.E. Sheikh Bilal Khan presented on the first day of the session, where he provided an overview of the key value proposition of IFPA with highlights of standout achievements since the inception of IFPA and he remarked that “IFPA is striving to realise the G2G mandate of our parent entity IOFS into the B2B reality for the private sector by identifying and executing key opportunity and growth areas of OIC agri-food sector to facilitate economically-vibrant cooperation between importers, exporters, investors, project companies and other ecosystem entities within the OIC agri-food markets by means of Shariah-compliant instruments of Islamic finance, investment and insurance in a sustainable, systematic and structured manner”.

Other highlights during the General Assembly sessions included speeches from notable speakers as H.E. Mr. Ruslan Manatayev, Deputy Minister of Agriculture of Kazakhstan; H.E. Ms. Mariam Mohammed Almheiri, Minister of State for Food and Water Security of UAE; H.E. Dr. Abbas Mortada, Minister of Culture and Agriculture of Lebanon; H.E. Mr Shadhan Chandra Majumder, Minister of Food of Bangladesh; H.E. Mr. Syed Fakhar Imam, Federal Minister for National Food Security and Research of Pakistan; H.E. Mrs. Naigina Anvari, Deputy Minister of Agriculture of Tajikistan; H.E. Mr. Mansour bin Hilal Almushaiti, Deputy Minister of Environment, Water and Agriculture of Saudi Arabia; H.E. Mr.Abdulaziz Alhowaish, Chairman of the Executive Board of IOFS; Dr. Mohamed Soliman, President of the Egyptian Agricultural Research Centre; Dr. Ayman al-Salti, Ministry of Agriculture of  Jordan and others.

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International IFPA delegates visits Uzbekistan, signs historical bilateral agreements

International Islamic Food Processing Association (“IFPA”) delegation during the participation in the 2021 Annual Meetings of the Boards of Governors of the Islamic Development Bank Group (“IsDB Group”) in Tashkent, Uzbekistan held a meeting with the Chairman of the Assembly of Economics of the Republic of Uzbekistan and the Association of Exporters of Uzbekistan Mr. Muhtor Umarov. Assembly of Economics of the Republic of Uzbekistan brings together 25 enterprises of domestic production and created to facilitate profitability of small, medium and large scale enterprises on the local and foreign markets. Association of Exporters of Uzbekistan is the premier trade organization representing Uzbek companies engaged in global trade, the body is recognized as technical experts regarding the day-to-day import and export of goods.

Director General and CEO of IFPA, H.E. Sheikh Bilal Khan remarked: “Kazakhstan, Uzbekistan especially and the entire Central Asian-based OIC markets represent phenomenal geo-strategic importance for other connecting regions by re-establishing the old ‘Silk Road’ trade route in light of the current ongoing developments for peace and stability in the region with far-reaching benefits for all wider OIC markets”.

IFPA delegation represented by the Heads of  Business Development and Marketing Departments including the Head of International Memberships, Ms. Gulsum Kenenbayeva, Head of International Partnerships, Mr. Berik Kaliyev and Head of Administration, Mr. Meirambek Issabekov discussed opportunities for business cooperation between Kazakhstan and Uzbekistan in agri-food trade and investment through the platform of International IFPA to grow partnership to diversify the portfolio of assets suitable for Kazakh and Uzbek markets.

The two parties expressed their strong commitment to developing a collaboration by signing a Memorandum of Understanding (“MoU”) on the promotion of agri-food projects that relate to the use of Islamic finance and investments in the wider market of the Republic of Uzbekistan.

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International IFPA held series of successful meetings at the venue of the 2021 IsDB Group Annual Meetings in Tashkent, Uzbekistan

International Islamic Food Processing Association (“IFPA”) participated in the 2021 Annual Meetings of the Boards of Governors of the Islamic Development Bank Group (“IsDB Group”) in Tashkent, Uzbekistan which attracted more than 2,000 participants and created a dynamic platform for decision-makers to explore game-changing innovations and high-impact business solutions among member countries.

On the sidelines of the Annual Meetings, multiple seminars and flagship events were organised that integrated international and regional organizations, and private sector entities. The side events provide an interactive platform that encourages discussions of economic, financial issues and investment opportunities to promote partnerships, cooperation and to sign bilateral agreements.

IFPA was represented by both the Chair of its Board, H.E. Mr. Yerlan Baidaulet and the Heads of its Business Development and Marketing Departments including the Head of International Memberships, Ms. Gulsum Kenenbayeva, Head of International Partnerships, Mr. Berik Kaliyev and Head of Administration, Mr. Meirambek Issabekov. H.E. Mr. Yerlan Baidaulet signed three major strategic partnership and cooperation agreements with the IsDB Group entities, ICIEC, ITFC and ICD while the IFPA team held several B2B productive meetings for enhancing cooperation in providing Islamic finance, investment and export insurance solutions for intra-OIC agri-food sector entities through IFPA’s multilateral private sector platform. These one-to-one meetings were conducted with the Heads of entities such as TAIBA Leasing; Amana Islamic Bank; Amana Takaful Insurance Company; Hunnap Company; Islamic Business and Finance entity; Alif Banking FinTech platform and others.

Some key investments and trade opportunities were particularly discussed with key representatives of the regional organisations – Heads of IMAN Islamic App; Central Asian Trade House LLP; Investment Department of the Oil and Fat Association “UZYOGMOYSANOAT”; Uzbekistan Food Industry Association “OzOSU”; Assembly of Economics of the Republic of Uzbekistan; Association of Exporters of Uzbekistan and others.

The Director General and CEO of IFPA, H.E. Sheikh Bilal Khan remarked “IFPA had an extremely successful and highly productive business trip to Tashkent, Uzbekistan led by our Chair. We have already followed up with next practical steps for our key market participants in order to sign up as many entities as possible and to offer them our wholesome services. Kazakhstan, Uzbekistan and indeed the entire Central Asian-based OIC markets provide highly untapped trade and investment opportunities for other connecting regions from South Asia to the Middle East and further to Africa. We would like to thank the IsDB Group organisers and all participants for their fruitful engagement and we keenly look forward to working jointly for mutually beneficial outcomes.”