Bahrain’s food security gets centre stage at Halal Expo

TDT | Manama                                                     

The Daily Tribune – www.newsofbahrain.com

Reported by Ashen Tharaka

At a bustling session at the 2024 Bahrain Halal Expo yesterday, the spotlight shifted to Bahrain’s food security, prompting a chorus of calls for proactive measures and collaborative strategies.

Dr. Abdulhasan Al-Dairi, Chairman of Bahrain SMEs and The United International SMEs Organization (UNISMO), delivered a sobering assessment, remarking, “Bahrain’s food security remains precarious, lacking the necessary safeguards against heavy reliance on food imports.”

Urging for immediate action, Dr. Al-Dairi emphasized the urgency for a comprehensive roadmap and strategy to navigate these challenges.

“The alarm has been sounded for quite some time, yet we’ve yet to see decisive steps,” he remarked. The discussion shed light on the pivotal role of Islamic financing in bolstering the growth of Small and Medium Enterprises (SMEs) and micro-businesses, critical components in the quest for food security and economic resilience.

Revelations during the discourse showcased the outsized contribution of SMEs to Bahrain’s economic tapestry, standing at an impressive 98.8%. Notably, micro-businesses constitute a significant 77% within this dynamic sector.

Expressing surprise at the disproportionately low financing directed towards SMEs and micro-businesses, Dr. Al-Dairi urged financial institutions and the Central Bank of Bahrain to ramp up funding avenues.

Full potential

In a concerted effort to nurture the vital SME ecosystem, leaders advocate for a substantial 20% increase in financing facilities over the forthcoming years, aimed at unlocking their full potential.

Turning attention to the imperative of a national halal system, Dr. Fajur Sabah Al Saloom, Animal Health Director at the Ministry of Municipalities Affairs and Agriculture, stressed the importance of robust legislative frameworks and infrastructure enhancements.

Aligning regional and national halal certification standards emerged as a key priority to bolster consumer confidence and facilitate market access. The riveting panel discussion, “Bridging the Gap between Halal Industry and Islamic Finance,” united leading luminaries whose collective expertise illuminated a deeper understanding of both sectors.

Esteemed panelists including Dr. Irwandi Jaswir, a recipient of the King Faizal Foundation Award and Professor at IIUM, Malaysia; Ms. Annamaria Aisha Tiozzo, the Founder & President of World Halal Development; and Elvina A. Rahayu, Director of Assessment and Domestic & Foreign Affairs at KHT Muhammadiyah from Malaysia, enriched the discourse with invaluable insights and perspectives.