Month: November 2022

 

“By promoting business networking and strategic partnerships in the food processing and broader food supply chain, providing market intelligence and thought leadership, and by developing effective mechanisms to promote access to Islamic finance and investments, the International Islamic Food Processing Association (IFPA) is aimed at resolving challenges of members such as distribution and promotion of agri-food products and championing leading companies in the OIC/IOFS markets.” –  published by UAE Food & Bevarge Manufacturers Group

https://www.linkedin.com/posts/food-%26-beverage-manufacturing-business-group_by-promoting-business-networkingand-strategic-activity-6996492009611960320-hGFu?utm_source=share&utm_medium=member_desktop

    

IFPA Forum. An open platform for OIC Agro-food trade and investment” was held at the Foodtech Summit of Gulfood Manufacturing on November 10, 2022. The Forum was organized with the collaboration of UAE Food & Beverage Manufacturers Group, DWTC and Food Tech Valley. The Forum agenda included an opening speech by H.E. Eng. Mohammed Mousa Alameeri, Assistant Undersecretary, Ministry of Climate Change and Environment, and a keynote address by H.E. Prof. Yerlan Alimzhanuly Baidaulet, DG of IOFS, with the most important point being the announcement of the relocation of the IFPA office in Dubai. H.E. Mrs. Latifa El Bouabdellaoui presentation provided data on OIC trade in the agri-food sector, which served as the foundation for a panel session discussion on the development of intra-OIC agri-food trade and investment, as well as how effectively IFPA could facilitate trade and promote investment through its new geolocation in Dubai. H.E. Saleh Lootah, Chairman of F&B Manufacturing Group, moderated the panel discussion. He had a fruitful discussion on the topic with speakers H.E. Prof. Yerlan A. Baidaulet, DG of IOFS, H.E. Latifa El Bouabdelaoui, DG of ICDT, Mr. Mubarak Rashid Al-Sahuti, VP of Commercial Affairs of Hassad Food Qatar, and H.E. Mr. Rauan Zhumabek, General Counsel of Kazakhstan in Dubai and Northern Emirates.

An MoU on cooperation in developing sustainable, innovative, and common solutions for the industry was signed immediately following the session between the IFPA-subsidiary of the Islamic Organization for Food Security (IOFS) and Food Tech Valley, a UAE-government-led initiative designed to address food security locally, regionally and globally.

IFPA Forum brought together members and partners from Kazakhstan, Tajikistan, the Islamic Republic of Pakistan, Tatarstan, Qatar, Saudi Arabia, Morocco, Oman, and the United Arab Emirates. Kazakhstan Oil and Fat Association, Kazakhstan Sugar and Food Processing Association, Amar Holding Group, Optograd Kazakhstan, and others held fruitful business matching meetings with ICD (IsDB Group), Hassad Food Qatar, and Al-Islami for the purpose of business collaboration.

H.E. Yerlan A. Baidaulet, DG of IOFS held several important meetings on Food security issues with H.E. Eng. Mohammed Mousa Alameeri, Assistant Undersecretary, Ministry of Climate change and environment, Mr. Liaquat Ali Warraich, Permanent mission of the Islamic Republic of Pakistan to OIC, H.E. Mrs. Latifa El Bouabdelaoui, DG of ICDT, H.E. Mr, Saleh Lootah, Chairman F&B Manufacturing Group, and Mr. Mubarak Rashid Al – Sahuti, Hassad Food.

 

  

On November 9, 2022, the day before the IFPA Forum in Dubai, the IOFS Subsidiary – IFPA conducted a roundtable discussion on agri-food investment opportunities through Islamic finance, led by H.E. Prof. Yerlan A. Baidaulet, DG IOFS and Chairman of IFPA. The round table discussion was held at Dubai’s Department of Economy and Tourism (DET).

The main topic of discussion at the roundtable was the opportunities that IFPA members, particularly those from Central Asia, have in terms of attracting Islamic financial resources and investment, their access to the Central Asia region, the main mechanism of operation, the contracts used in the agri-food sector and how Islamic finance can be effectively used in food security by OIC countries.

The roundtable began with a keynote address by H.E. Prof. Yerlan A. Baidaulet, who has extensive Islamic finance experience and has written a book besides several articles on the subject. It was followed by a brief presentation on Islamic Economy Overview by Dr. Mohamed Ali, a Senior Partner of DinarStandard. Mr. Sohail Zubairi, Senior Adviser – Islamic Finance at DET who is an expert on Islamic banking, capital market and Shariah compliance made a specially prepared presentation on how Islamic finance contracts can be effectively used as tools for the food security purpose. He also responded to many questions from the delegates on technical aspects of Islamic financing strucures.

The delegation was comprised of its members primarily from Central Asia, and included Ms. Gulsum Kenenbayeva Head of International Memberships, IFPA, Mr. Konstantin Nevzorov, President of Oil and Fat Union of Kazakhstan, Ms. Aizhan A. Nauryzgaliyeva, President of Sugar & Food Processing Association, Mr. Raif Safin, CEO Amar Holding Group, Almat Berdenov, Director of Optograd Kazakhstan, Mr. Mohib Ahmet Khan, DG of ATYAB Services in Oman, Shareholders of Faravon Group of Companies and others.