'Halal needs regulatory framework'

Indunil HEWAGE

The local Halal industry needs a strong regulatory framework with the increase in demand for Halal products in the country.

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Addressing the second Sri Lanka Islamic Banking and Finance Conference, Thomson Reuters (USA) Global Head of Islamic Finance Rushdi Siddiqui said "it is essential to have more Government regulations for the Halal industry in Sri Lanka. Measures should be taken to set up an international body for the certification process. We are going to invite the Gulf region and Thailand to convene it here," he said.

Some specialized knowledge and more professionals are required to understand the complexity in the Halal industry to sustain the business.

One of the Sri Lankan representatives in Halal industry said Halal is a new item for the country and more professionals and scholars should work together to expand the business. The demand for the Halal products has increased in the country and people's awareness of Halal products has also increased.

"Most of the Sri Lankan companies are seeking the Halal licence and support of professionals and scholars in the country are essential to make the industry a profitable one," he said.