Brazil: Halal Food and Halal Industry
For those that are not familiar with certain expressions related to Islam, I must begin this note by saying that the word “halal” would essentially mean what is in accordance with Islamic principles such as being licit and allowed.
After starting studying Islamic Finance and activities that are in compliance with the Sharia (in a summary, the Islamic law and principles), I became aware that for decades Brazil is one major exporter of halal food (poultry and meat) to several Muslim-majority countries, such as Egypt, Saudi Arabia and the United Arab Emirates.
On the other hand, although still not that frequent, there have been some investments made in Brazil, which would have been made in a Sharia-compliant way. In other words, the investments are made by adopting one of the several ways of doing business in a Sharia-compliant way.
One possible opportunity is the so-called halal tourism. In this case, the hotels and resorts adopt procedures to receive guests following the Sharia principles. The northeastern region of Brazil may be a geographic are of good opportunities since it is closer to the Middle East and North Africa Zone and the weather is quite favorable to tourism. In addition to that, some airline companies from countries like Turkey, Morocco and the United Arab Emirates have direct flights to Brazil.
Foreign investors should maybe start thinking more carefully about investing in Brazil and evaluating if such investments can be Sharia-compliant.