(Source: thedailystar.net)

Bangladesh’s journey toward halal market leadership carries important lessons from previous ventures. The example of Jamuna Group’s Aromatic halal soap serves as a cautionary tale—despite initial promise as a vegetable fat-based product marketed for its cleaner, faith-aligned qualities, it eventually disappeared from the market due to insufficient long-term investment and development. This experience highlights a critical risk: without sustained commitment and strategic nurturing, Bangladesh’s $7 trillion global halal economy ambitions could similarly falter.

Currently, most halal-certified products worldwide originate from non-Muslim majority countries, creating a significant opportunity gap that Bangladesh is positioned to address. The country’s approach to closing this gap involves comprehensive policy reforms, establishing specialized halal industrial zones, and forming strategic partnerships with Malaysia’s certification experts.

Bangladesh’s Competitive Advantages

Bangladesh possesses several inherent advantages for halal market expansion:

• Large Muslim demographic base
• Established agricultural and food processing infrastructure
• Strategic geographic location within Asia
• Cultural understanding of halal requirements and practices

While progress is evident through companies obtaining Islamic Foundation Bangladesh certifications, several critical gaps remain:

• Lack of unified certification standards
• Inconsistent regulatory frameworks
• Absence of dedicated Harmonized System codes for halal products
• Insufficient data tracking and export classification systems
• Outdated slaughterhouse facilities and testing infrastructure
• Shortage of skilled workforce
• Limited public awareness and education

Strategic Development Areas

The global halal market has evolved beyond purely religious consumers, attracting individuals of all backgrounds who prioritize safe, ethical, and quality-assured products. Bangladesh can capitalize on this broader appeal by investing in value-added halal offerings, including ready-to-eat meals, nutraceuticals, and certified logistics with comprehensive halal-compliant handling processes.

Success requires engagement with higher education institutions and research organizations to conduct advanced studies in innovative halal market strategies and product development.

Case Study: Black Seed Products

Black seed oil and capsules represent an untapped opportunity for Bangladesh. While these products enjoy strong local production and cultural trust as faith-based natural remedies, the country has yet to establish a globally recognized brand presence. International markets in the Middle East, Europe, and North America currently import similar products from non-Muslim countries that excel in packaging, certification, and marketing to diverse consumer bases.

To capture this market share, Bangladesh needs investment in quality certification processes, modern processing facilities, attractive branding and packaging, and strategic market positioning connecting cultural heritage with contemporary wellness trends

Financial Services and Investment Opportunities

The growing awareness of ethical finance has made halal investment an increasingly attractive option in Bangladesh. This appeals not only to religiously observant investors but also to those seeking socially responsible investment opportunities.

Key components include:

• Shariah-compliant stocks and securities
• Sukuk (Islamic bonds)
• Islamic mutual funds
• Real estate investments following Islamic principles

Building a robust halal investment ecosystem requires:

• Transparent screening mechanisms
• Credible Shariah advisory boards
• Comprehensive regulatory frameworks
• Confidence-building measures for domestic and international investors

Leveraging Diaspora Networks

Bangladeshi expatriates maintain strong cultural and culinary connections to their homeland, creating consistent demand for halal food products, cosmetics, and wellness items. This diaspora also represents potential investment opportunities in halal markets.

Bangladesh can activate its overseas population through:

• Targeted international trade fairs
• Strategic business partnerships
• Diaspora investment incentives
• Brand ambassador programs
• Foreign market entry support

Tourism Sector Development

Bangladesh’s halal tourism sector combines cultural heritage, natural attractions, and Islamic traditions to serve the growing Muslim travel market. This extends beyond food services to include:

• Comprehensive prayer facilities
• Family-oriented recreational activities
• Modest accommodation options
• Islamic heritage tourism experiences

Notable attractions include Cox’s Bazar, the Sundarbans, and historic Islamic sites such as the Sixty Dome Mosque. Development requires establishing service standards that meet international halal certification requirements.

International Partnerships and Market Access

Bangladesh can leverage support from Malaysia, which operates numerous halal industrial parks and maintains significant market leadership. Additionally, sustained halal diplomacy through organizations like the Developing-8 (D8) and Organisation of Islamic Cooperation (OIC) can provide access to key markets including Saudi Arabia and the UAE.

Economic Diversification Benefits

Developing a competitive halal sector enables Bangladesh to reduce excessive dependence on saturated industries like ready-made garments (RMG) while accessing high-growth value chains with greater resilience to market fluctuations.

Expanding halal production strengthens trade competitiveness through:

• Higher profit margins
• Broader consumer appeal
• Enhanced market resilience
• Value-added product offerings

Conclusion

Bangladesh’s transformation into a global halal powerhouse requires treating this opportunity as a long-term strategic commitment rather than a short-term project. Success depends on sustained investment, comprehensive policy support, international partnerships, and leveraging the country’s natural advantages while addressing existing infrastructure and regulatory gaps. The potential rewards include economic diversification, job creation, foreign exchange generation, and establishing Bangladesh as a trusted leader in the rapidly expanding global halal economy.

Original Article:

Ul Karim, I. (2025, August 24). Could Bangladesh become a global halal powerhouse? The Daily Star. https://www.thedailystar.net/opinion/views/news/could-bangladesh-become-global-halal-powerhouse-3967781