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The Halal economy is big and is For businesses, this is an opportunity
getting even bigger. A young
and growing population, currently accounting for almost a quarter of humanity and increasing, is driving demand for things Halal.
In its State of Global Islamic Economy Report 2018/19, Thomson Reuters estimates that across lifestyle sectors, the Halal market will surpass US$3 trillion in 2023, from US$2.1 trillion in 2017. Food and beverage leads Muslim spend by category followed by fashion, media and recreation, travel, pharmaceuticals and cosmetics.
too good to miss. Companies and countries are priming themselves to have a slice of this expanding pie.
Singapore Raises Its Ante
A food obsessed country, Singapore is drawn by the glowing prospects for Halal food and beverage, which is projected to hit US$1.9 trillion in 2023 (US$1.3 trillion in 2017). Singapore has a heads up in this sector as it has a well established certi cation system, recognised by its immediate neighbours Brunei, Indonesia and Malaysia, as well as major trading partners, UAE, Australia, Europe and the United States.
In the absence of international standards, certi cation from a recognised authority is key to product acceptance in the Halal market. Developed in 1978, the Majlis Ugama Islam Singapura (Muis) Muis Halal certi cate is possibly the  rst Halal certi cation system in the world.
Since then the standards have been updated to keep pace with industry changes. The  rst major upgrade was in 2007-2008. From a manual system in the early years, it was computerised. Developed in house, the MUIS eHalal System (MeS) manages the entire certi cation process from end-to-end,

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