The halal industry must be more resilient to global crises, said Ameen Alsaadi, Chief Investment Officer of Halal Products Development, during his speech at the session titled “Strategic Leadership Dialogue on Ethical Halal Business Models and Risk-Resilient Financing” held as part of the Islamic Development Bank (IsDB) Group Annual Meetings in Baku, APA reports.
“Resilience is no longer a choice, it is a necessity. Any disruption occurring anywhere in the world affects all companies and regions. Therefore, all organizations operating in the halal industry should develop resilience strategies before crises occur,” he noted.
He stated that the global halal industry is facing increasing risks in a changing world, and for this reason resilience should be at the center of strategic planning. Alsaadi noted that one of the most important approaches is diversification: “We cannot rely on only one or two suppliers or on specific regions. Supply and value chains must be diversified to ensure uninterrupted supply."
He also emphasized the importance of market diversification: “Access to different markets protects companies from risks during times of crisis and increases resilience."
According to him, locating production capacities close to target markets is also an important factor: “Companies should establish their production and operational capabilities close to the regions they are targeting."
Alsaadi identified trust and strategic cooperation among partners as key factors in the halal sector: “Strong trust and cooperation among investors, financiers, suppliers and manufacturers ensure business continuity during crises,” he said.
He added that strong governance enables timely and correct decision-making, which enhances companies’ resilience.
“One of the most important points is that ethical and halal business models are inherently more resilient. This is because such companies are built on structures that prioritize fairness, reliability and long-term development,” he stressed.
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