JAKARTA – Malaysia’s halal economy received a significant boost as two industry powerhouses joined forces to accelerate business growth and expand market opportunities. The strategic collaboration between OCBC Al-Amin Bank Berhad and Halal Development Corporation Berhad (HDC) was announced during the Malaysia International Halal Showcase (MIHAS) 2025, signaling a new era of comprehensive support for halal entrepreneurs.

Comprehensive Support Beyond Traditional Banking

The formal agreement, signed by OCBC Al-Amin CEO Tuan Syed Abdull Aziz Syed Kechik and HDC CEO En. Hairol Ariffein Sahari, represents more than conventional financial services. The partnership aims to create an integrated ecosystem that combines Shariah-compliant financing with extensive business development resources.

“Our approach transcends mere lending,” explained Tuan Syed Abdull Aziz. “We’re focused on nurturing halal business growth through integrated financial solutions paired with market connectivity. This collaboration with HDC enables us to offer enhanced opportunities for entrepreneurs and established businesses operating in the halal sector, supporting their domestic expansion while preparing them for international markets.”

The alliance reflects OCBC Al-Amin’s commitment to moving beyond traditional banking boundaries, positioning itself as a strategic partner in business development rather than simply a financial services provider.

Economic Impact and Growth Projections

HDC’s leadership views this partnership as instrumental in advancing Malaysia’s halal economy, which currently represents approximately 8.1% of the nation’s gross domestic product. With projections indicating the market could reach USD 113 billion by 2030, the collaboration comes at a crucial growth phase.

“This alliance establishes a solid framework connecting halal entrepreneurs with appropriate Shariah-compliant financial instruments,” stated HDC CEO Hairol Ariffein Sahari. “Simultaneously, businesses gain access to HDC’s extensive support infrastructure, encompassing training programs, consultancy services, and market facilitation through our Halal Integrated Platform (HIP).”

The partnership promises to deliver targeted programs including educational workshops, financial literacy initiatives, and awareness campaigns specifically designed to enhance halal entrepreneurs’ capabilities and market readiness.

Strategic Alignment with National Development Goals

The collaboration directly supports the Halal Industry Master Plan 2030, particularly focusing on infrastructure development and cultivating Malaysia’s domestic halal champions. The agreement establishes a framework for promoting Shariah-compliant financial products throughout the halal business ecosystem.

Key collaboration areas include:

• Cross-referral systems between the organizations
• Knowledge sharing and expertise exchange
• Enhanced market access for halal businesses
• Integrated support services for entrepreneurs

“Our mission centers on establishing halal as the preferred choice for business ventures,” Sahari emphasized. “This partnership empowers entrepreneurs and small-to-medium enterprises to strengthen their competitive position while expanding Malaysia’s halal product presence in international markets.”

Proven Track Record in SME Development

OCBC Al-Amin brings substantial experience in supporting Malaysia’s small and medium enterprise sector, including specialized halal industry initiatives. The bank’s Islamic Portfolio Guarantee-i (PG-i) program, developed in partnership with Credit Guarantee Corporation Malaysia Berhad (CGC), specifically targets Bumiputera and women-led businesses.

Since 2017, the bank has distributed RM268 million through PG-i schemes with CGC, demonstrating its commitment to inclusive economic development. These efforts highlight OCBC Al-Amin’s role in creating sustainable progress within Malaysia’s halal industry.

Market Position and Service Network

Established in December 2008, OCBC Al-Amin has maintained its position among Malaysia’s leading foreign Islamic banks, consistently ranking in the top two by assets since 2013. The bank operates through 38 OCBC branches nationwide, including seven dedicated Islamic banking locations.

This extensive network provides the infrastructure necessary to deliver comprehensive services across Malaysia’s diverse geographic regions, ensuring accessibility for entrepreneurs regardless of their location.

Future Implications for Industry Development

The partnership represents a significant milestone in Malaysia’s halal industry evolution, combining financial expertise with sector-specific knowledge to create unprecedented support mechanisms for businesses. By integrating banking services with comprehensive business development programs, the collaboration addresses multiple barriers that traditionally challenge halal entrepreneurs.

The alliance’s success could serve as a model for similar partnerships across other sectors, demonstrating how strategic collaborations between financial institutions and industry development agencies can accelerate economic growth and market expansion.

As Malaysia continues positioning itself as a global halal hub, partnerships like this one between OCBC Al-Amin and HDC provide the foundation necessary for sustained industry growth and international competitiveness. The collaboration promises to unlock new opportunities for entrepreneurs while strengthening Malaysia’s position in the global halal marketplace.

Original Article:

Halal Times. (2025, September 22).HDC and OCBC Al-Amin Forge Strategic Alliance to Propel Malaysia’s Halal Economy.  Retrieved from https://www.halaltimes.com/hdc-and-ocbc-al-amin-forge-strategic-alliance-to-propel-malaysias-halal-economy/