International Islamic Food Processing Association (“IFPA”) held a bilateral meeting with the General Director of the Holding Amar Group (“Holding”), Mr. Raif Safin. The Holding, headquartered in Samara, Russia operates in the poultry sector for more than nine years, which main activity includes processing and sale of chicken broiler, goose, turkey meat, eggs, with a product line estimating more than 100 items and produced following Halal food standards. Currently, the Holding exports poultry products to the countries of the Persian Gulf, mainly to Iran.
The parties presented their activities and discussed current issues and prospects for further cooperation in the poultry production sector. The Director General and CEO of IFPA, H.E. Sheikh Bilal Khan noted that “the industry is demanding a sizeable upfront investment on the farmer to develop the infrastructure of the poultry farm. Therefore, particular attention should be paid to the interaction of the entities in the sphere of new export market opportunities with IFPA potentially facilitating various structured Islamic financial and investment instruments for the poultry enterprises for their continued stability and sustainability”.
The Holding expressed its willingness for close cooperation with IFPA and the parties agreed to sign a mutual agreement whereby the Holding Amar Group will join IFPA as a Corporate member which will offer the opportunity to its members to have access to all privileges and benefits of IFPA and the eligibility to receive IFPA’s special services in attracting Islamic investments and financing and the assistance to increase the volume of exports of the enterprises belonging to the Holding.