BY KHIRTINI K KUMARAN
The Halal Expo Manchester is the first expo in the UK to gather all the halal economy and businesses under one roof.
“There are many sectors within the halal industry, and there is potential for synergies. However, they don’t necessarily come across each other,” stated Hassan Daher, CEO and founder of Qardus.
“So, this is an important event because it allows halal industry players to get exposure and build a network with other businesses in the halal economy within the UK and other parties worldwide.
“It is also good for the halal consumers because they can learn and understand the different products and services that can provide them with what they want.
“We look forward to meeting customers on both sides of the marketplace and gaining some exposure to the rest of the halal economy at the Halal Expo Manchester. In the future, we might be able to build potential partnerships with other businesses that we might not have met before.”
Qardus, UK’s first ethical Shariah-compliant business financing platform, offers fast and affordable financing to SMEs across the UK.
“Our platform is end-to-end Shariah-compliant, where SMEs looking for funding are seamlessly matched with investors. We offer up to £500,000 to eligible SMEs that meet our criteria.
“We screen businesses to make sure that they operate in Shariah-compliant sectors, and we make sure the businesses are doing well before we get them on the platform and allow investors to fund them.”
Latest trends and opportunities
According to Hassan, there are a lot of growth and investment opportunities in the healthcare and e-commerce sectors.
“There is a change of mentality post-pandemic. Many businesses are turning online to sell their products and services. We are also witnessing this trend in the Shariah-compliant business sector. And a lot of these e-commerce businesses need funding to grow.
Additionally, the global Islamic finance industry is growing rapidly. He said it was expected to reach £3.69 trillion by 2024, and there was still significant room for growth.
“One of the statistics mentioned that 74 per cent of young Muslims want banks that align with their religious belief. It means that their businesses will need Shariah-compliant business financing.
“Another recent statistic found that 35 per cent of small businesses in Islamic OIC countries are deterred from obtaining financing due to a lack of Islamic financing option.”
With more Islamic finance, he said, these businesses will have the funds to grow and prosper.