HDC and OCBC Al-Amin Forge Strategic Alliance to Propel Malaysia’s Halal Economy
OCBC Al-Amin Bank Berhad (OCBC Al-Amin) signed a strategic partnership with Halal Development Corporation Berhad (HDC) at the Malaysia International Halal Showcase (MIHAS) 2025, marking a significant step forward in strengthening support for halal entrepreneurs and expanding opportunities within Malaysia’s halal economy.
The Memorandum of Understanding (MoU) was formalised between OCBC Al-Amin Chief Executive Officer, Tuan Syed Abdull Aziz Syed Kechik, and HDC Chief Executive Officer, En. Hairol Ariffein Sahari.
Tuan Syed emphasised OCBC Al-Amin’s deep commitment to the halal sector. “At OCBC, our commitment goes beyond financing. We aim to support the growth of halal businesses by combining financial solutions with market connectivity, equipping halal entrepreneurs to grow their presence in Malaysia and aspire to venture into global markets. We are pleased to have this collaboration with Halal Development Corporation to provide greater opportunities to entrepreneurs and businesses in the halal sector,” he said.
CEO of HDC, Hairol Ariffein Sahari, described the partnership as a pivotal step in advancing Malaysia’s halal economy, which currently contributes about 8.1% to the nation’s GDP and is projected to reach a market value of USD 113 billion by the end of 2030.
He said, “Through this collaboration, we are laying a robust foundation to connect halal entrepreneurs with Shariah-compliant financial solutions, while simultaneously providing access to HDC’s comprehensive support services, including training, consultancy, and market facilitation via the Halal Integrated Platform (HIP). We will provide impactful programmes such as workshops, financial literacy programmes, and awareness campaigns designed to build the capacity of halal entrepreneurs. This partnership emphasizes HDC’s mission to position halal as the first choice in business ventures, empowering entrepreneurs and SMEs to enhance their competitiveness and expand Malaysia’s halal products globally.”
This initiative aligns closely with the Halal Industry Master Plan 2030, particularly in strengthening industry infrastructure and nurturing home-grown halal champions. Under the MoU, OCBC Al-Amin and HDC will collaborate extensively to promote and broaden the reach of Shariah-compliant financial products within the halal ecosystem, enabling effective cross-referrals, knowledge exchange, and expanded market access.
OCBC Al-Amin remains dedicated to supporting growth and sustainable development in Malaysia’s SME, including the halal industry. One of the initiatives is its Islamic Portfolio Guarantee-i (PG-i) agreement with Credit Guarantee Corporation Malaysia Berhad (CGC) to support the growth of Bumiputera and women-led enterprises. Prior to this, OCBC Al-Amin had already disbursed a total of RM268 million in PG-i schemes with CGC since 2017. Through these efforts, OCBC Al-Amin continues to play a role in driving meaningful and lasting progress in Malaysia’s halal industry.
Since its establishment in December 2008, OCBC Al-Amin has remained among the top foreign Islamic banks in Malaysia, consistently placing among the top two by assets since 2013. It offers its products and services through the 38 OCBC branches nationwide, including 7 that are standalone Islamic banking branches.
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NEWS RELEASE is prepared and issued by Halal Development Corporation Berhad (HDC) FOR MORE INFORMATION, PLEASE CONTACT: Norsida Ahmad | +6012 3249703 norsida.ahmad@hdcglobal.com or Firman | +012-326 2629 | FirmanHasani@ocbc.com
| ABOUT HALAL DEVELOPMENT CORPORATION BERHAD (HDC) – Halal Development Corporation Berhad (HDC) spearheads the development of Malaysia’s integrated and comprehensive halal ecosystem and infrastructure to position Malaysia as the most competitive country leading the global halal industry. Established on 18 September 2006, HDC is the central coordinator that promotes participation and facilitates growth of industry players in the development of Malaysia’s Halal ecosystem. An agency under the Ministry of Investment, Trade and Industry (MITI); it is the world’s first Government-backed halal industry development corporation. For more information, please visit HDC at – www.hdcglobal.com. |
About OCBC Al-Amin – OCBC Al-Amin Bank Berhad (OCBC Al-Amin), a wholly owned subsidiary of OCBC Bank (Malaysia) Berhad, was established in 2008 to strengthen the Bank’s efforts in Istamic banking, more than a decade after the Bank first started offering Shariah-compliant banking products and services in 1995. OCBC Al-Amin offers a broad array of competitive and innovative financial products and services, ranging from consumer, corporate, treasury, investment and transaction banking, for both Muslims and non-Muslims while adhering strictly to the tenets of Islam. OCBC Al-Amin is a member of the OCBC Group with global headquarters in Singapore. The Group’s key markets are Singapore, Malaysia, Indonesia and Greater China. Together with OCBC Bank’s extensive network and leading Asset Management, Private Banking and Takaful business offerings, OCBC Al-Amin seeks to deliver world class services to its clients.
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