Maybank Islamic Facilitates Micro, Small & Medium Enterprises in Their Halal Certification Journey

KUALA LUMPUR, 19 OCTOBER 2023: Maybank Islamic Berhad recently entered into a collaboration with Synxsoft Sdn Bhd, a digital software development company, to enable the Bank’s Micro Small & Medium Enterprise (MSME) customers access to a digitally seamless journey of getting their business to be Halal-certified. Currently available for customers in Kuala Lumpur and Selangor, this will be launched nationwide in January 2024.

Synxsoft which focuses on mobile applications and software development, owns a Halal platform known as CoreHalal and through it, Maybank Islamic customers can among others, gauge their Halal readiness via an online assessment tool called “Taqyim” and simplify the upkeep of their Halal document management via Halal Assurance System (HAS).

“These initiatives can make the Halal certification journey and document management seamless for our MSME customers, via trusted and efficient digital solutions. Through this platform, we aim to remove the perception that Halal certification is costly, time consuming and complex,” said Maybank Islamic CEO Dato’ Mohamed Rafique Merican.

He added that through this collaboration with Synxsoft, Maybank Islamic aims to increase the number of JAKIM Halal certified businesses within Maybank Group and in Malaysia, and support MSMEs in their businesses’ upscaling, growth and resilience.

The Bank’s Halal initiatives programme is a result of various empathy sessions conducted with customers who had expressed multiple challenges in the processes involved in getting their businesses to be Halal certified.

As at July 2023, Maybank Group has a total of 3,897 Halal certified customers with outstanding banking facilities valued at RM3.3 billion. The Bank is targeting to grow the number of Halal certified companies it serves to 4,200 by end of next year.

“With the increased consumer awareness on Halal products, the Halal core values of hygiene and sustainable ethical standards are now highly recognised and accepted by both Muslims and non-Muslims alike,” said Dato’ Mohamed Rafique adding that the contribution of the Halal industry as a strategic sector to the country’s economic development is also increasingly growing in importance.

According to the Halal Development Cooperation’s Halal Industry Masterplan 2030, the overall Malaysian Halal industry is estimated to reach USD113.2 billion by 2030, contributing 11% to the country’s GDP. In 2022, Malaysia’s Halal exports were valued at RM59.46 billion, a 64% growth as compared to the previous year. Within this, the F&B sector was the largest contributor to Halal exports with growth of 58%.

At the launch of this collaboration here recently, Halal certificates were presented to four food & beverage companies certified under Maybank Islamic’s Halal Initiatives programme. The four companies were Aducktive Food Sdn Bhd, DGJ Alhambra Sdn Bhd, KVG Juta Sdn Bhd and MZ Empire Industry.

Aducktive Food Sdn Bhd director Puan Shahira Kamaruzaman said with the Bank’s free Halal Facilitation initiative, the company is confident that the JAKIM certification will assist them to expand their business locally and abroad. JAKIM’s Halal certification is highly recognized globally and accepted by 84 other Halal certifying bodies in 47 countries.

KVG Juta Sdn Bhd CEO and founder Encik Mohamad Faris Shahin Mohd Fairus whose business is selling local delicacy, kuih keria said one of its non-Muslim agents suggested that the company become Halal certified to retain their Muslim customers.

“Prior to obtaining Halal certification, there were a few specifications we needed to comply with including renovating our factory, which Maybank Islamic granted us financing. After obtaining Halal certification in December 2022, we won the PERNAS Award i.e. Business In Transformation Award. With Halal certification, we have been able to expand our business in marts and shopping malls”.

DGJ Alhambra Sdn Bhd founder and director Ms Esther Low meanwhile said, “From our first Pan Mee shop in Kampar, we noticed our customers were always concerned about food quality and hygiene. Coincidentally, we discovered that Halal food can actually meet the demands of our customers because Halal is not just about religion but also allows us to systemically provide high-quality products and have access to a much wider market”.

“With the financing from Maybank Islamic, our company was able to renovate the central kitchen to meet the Halal certification requirements and our application for Halal certification was approved on the very first submission! It has been five months since we became Halal certified and our sales have gone up 25 per cent,” she added.