Written by The Banking Post
Bangladesh is stepping up efforts to capture a share of the rapidly growing global halal economy, valued at around US$7.7 trillion in 2025 and projected to hit US$10 trillion by 2030, according to officials.
The government is working to position the country as a halal hub by the end of this decade, leveraging its cost competitiveness, large domestic market, and strong export potential. A key focus is aligning local production with international halal standards, amid increasing requirements from importing nations.
The Ministry of Commerce has warned that unless Bangladesh ensures globally accepted halal certification across production and export chains, it risks missing out on opportunities in high-demand markets such as the Middle East and Southeast Asia.
Certification Gap Stalling Growth
Experts point out that Bangladesh has so far failed to fully tap into the market due to limited certification and accreditation capacity. “The halal industry holds immense promise, but Bangladesh has not been able to break through because of weak certification infrastructure,” said Dr M Mashrur Reaz, founder and CEO of Policy Exchange.
Although some local companies, such as Bengal Meat, have begun halal-certified exports, volumes remain low. Saudi authorities — through agencies like the Saudi Accreditation Centre (SAAC), SASO, and SFDA — now mandate official certification for all imports, while Malaysia’s JAKIM accreditation is crucial for entry into its halal market.
A Saudi delegation recently inspected Bengal Meat’s slaughterhouse in Pabna and Akij Food & Beverage’s Manikganj facility, expressing satisfaction with their compliance standards, according to the Islamic Foundation’s Halal Certification Department.
Push for Investment & Partnerships
Bangladesh Investment Development Authority (BIDA) chief Chowdhury Ashik Mahmud Bin Harun highlighted Malaysia as a strategic partner during a business forum in Kuala Lumpur last week. “Malaysia brings a globally recognized certification system, while Bangladesh offers competitive sourcing. Together, we can create a powerful halal supply chain,” he said.
BIDA is pursuing three investment tracks — greenfield projects, joint ventures, and private participation in state-owned enterprises — as part of the halal expansion drive. Officials noted that Bangladesh’s fast-growing consumer base, projected to be the world’s 8th-largest by 2030, strengthens the case for global halal investors.
Opportunities and Challenges Ahead
Currently, only about 100 Bangladeshi companies hold JAKIM certification. Business leaders stress that the number must increase significantly — alongside capacity building at the Islamic Foundation and Bangladesh Standards and Testing Institution (BSTI) — if Bangladesh is to establish itself as a credible halal player.
“Bangladesh must move fast. Regional competitors like Malaysia, Indonesia, Thailand, and India are already ahead in the global halal trade,” said Anwarul Alam Parvez, president of the Bangladesh Chambers of Industries (BCI).
He urged the government to reduce certification fees, actively brand halal products from Bangladesh, and encourage manufacturers to participate in international expos such as the upcoming halal fair in Turkey this September.
The halal economy extends beyond food and beverages to pharmaceuticals, cosmetics, textiles, tourism, and financial services. Analysts say building a globally accepted certification framework and coordinating across ministries will be vital if Bangladesh is to emerge as a significant halal hub in the next five years.
