Eurabia’s First Halal Industrial Park, Islamic Stock Exchange Planned

Creeping Sharia
2/21/2010

Partly paid through government grants, i.e., taxpayers? It creeps from all angles, at all times. From IslamOnline.com:

LONDON — A British venture capital firm plans to launch Europe’s first halal industrial park, tapping an under-served market worth up to $6.27 billion a year.

satellite

“If you look at some figures, the halal sector in the UK is worth between 2 to 4 billion pounds, the majority of that is imported,” Mahesh Jayanarayan, chairman of Halal Industries, told the Reuters Islamic Banking and Finance Summit.

He said the Super Halal Industrial Park (SHIP) will be based in South Wales, adding that it was chosen because of its meat industries and affordable land prices.

The park would provide services such as storage, product packing, meat selection and processing as well as research and development.

Halal Industries has partnered with the Penang International Halal Hub (PIHH), the agency set up by the Malaysian state to promote halal-related industries.

Muslims should only eat meat from livestock slaughtered by a sharp knife from their necks, and the name of Allah, the Arabic word for God, must be mentioned.

Jayanarayan said the project will take three to five years to launch and will cost around 150 million pounds — a sum he plans to raise in the capital markets, by sourcing government grants and by finding anchor-partners…

…“We would prefer to go to places like Bosnia, where there’s a large Muslim population and… we could seek EU grants,” Jayanarayan said.

The firm is also planning to set up an Islamic stock exchange in either London or Luxembourg to try to encourage the development of Islamic enterprise…

The article continues at Creeping Sharia.

Comments are closed.