CIMB Islamic will continue giving special promotion in terms of financial support to all halal entrepreneurs who join Malaysia International Halal Showcase (MIHAS) and Halal Fiesta Malaysia (HALFEST).

Its Chief Executive Officer, Badlisyah Abdul Ghani said realising that the halal business is a strategic industry, CIMB Islamic has decided to lend support to the development of the halal industry in Malaysia.

“CIMB Islamic has been supporting MIHAS which is targeted for business-to-business (B2B) segment, and now we want to help the business-to-consumer (B2C)’s HALFEST,” he told Bernama on the sidelines of HALFEST Entrepreneurs Award and Gala Dinner, Friday.

Badlisyah noted that the halal industry and Islamic finance and banking “is a perfect marriage.”

He said that CIMB Islamic would also give financial support to other halal entrepreneurs, “as long as they have good cash flow, good product promotion and good business proposal.”

Earlier in his speech, Badlisyah said CIMB Islamic’s involvement at HALFEST last year had given encouraging returns.

It recorded financing applications totalling RM240 million.

“Of the total, some RM145 million had been approved and RM100 million funding was disbursed to customers,” he said.

He said CIMB Islamic offered financing package, Premises Financing-i at a rate of base financing rate minus 2.20 per cent (BFR-2.20 per cent).

“This means that the current effective rate is only 4.40 per cent based on base financing rate of 6.60 per cent,” he added.

HALFEST is a halal exposition created to strengthen and stimulate the local halal industry before venturing into the global market.

It also aims to become the platform to developing the halal industry in the country.

HALFEST 2012 is organised by CIMB Islamic and supported by the Ministry of Agriculture and Agro-based Industry, Ministry of International Trade and Industry, Ministry of Domestic Trade, Cooperatives and Consumerism, Halal Industry Development Corporation, Majlis Amanah Rakyat (MARA), Malaysia Department of Islamic Development (Jakim) and the Muslim Consumer Association of Malaysia (PPIM).

The event is held for five days from Oct 10 at Putra World Trade Centre. - Bernama