Penang Chief Minister, Lim Guan Eng launched the Penang International Halal Conference 2010 at a hotel in Penang on the 30th Jan 2010
Lim said the global Muslim population is upwards of 1.6 billion, which means that one in four people in this world are Muslims.
According to Lim, the halal trade is estimated to be in excess of US$2 trillion annually. However the halal trade in not limited to Muslims alone as non-Muslims can also consume halal products.
He added there is nothing unrealistic about Penang wanting a share of this trade. With a sizeable Muslim population in the country, with its proximity to teeming Muslim populations of neighboring countries, with an international airport, a seaport and adequate road and rail links, Penang can aspire to a share of the global trade in halal manufacture and products.
No such share will be possible without facilities for the practice of Islamic finance and logistics which is the broad topic of this conference.
No globally aware non-Muslim these days can afford to be unaware of Islamic finance. Looking at the way the global credit crunch has affected world financial markets and looking at how Islamic finance has been unscathed by the crisis, non-Muslims are interested in the subject.
Video by Leow Beng Hock, Citizen Journalist