The Friday Round Up: Ramadan branding, halal hospitals, ethical business, moving from me to we
Friday is known as the day of ‘Jumu’ah’, meaning the day of gathering together, as people come to pray at the mosque, and visit each other. Our gathering is of a different kind: bringing together the best of this week’s news, and our own deep insight into Muslim consumers.
With Ramadan barely weeks away, due to start around July 20, Muslims are beginning to make plans and preparations for the month of fasting. And brands should be doing the same, whilst understanding that Ramadan is about re-connecting with the spiritual, through abstention from the physical. The hardship of fasting is seen as a pathway to a physical detoxification and a clarity of the spiritual and emotional. An intense community spirit and sense of togetherness through prayer, breaking fast and shared tribulation are the great hallmarks of this month.
It is important that brands do not stand in the way of this process, and must not be seen to be preventing Muslims from achieving their spiritual goals. Instead, they must work hard to be a friend and supporter to Muslims during this spiritually signficant month.
In the press
Ogilvy Noor is quoted in a report by PR Week, speaking about the rise of the American Muslim Consumer “One look at the American-Muslim demographic will reveal a young, educated, affluent population that’s both highly loyal and eager to be engaged by US companies. Yet, the market is basically untapped”
Cheat sheet: sharp insights into Muslim consumer markets this week
American Muslim Consumers announces its 4th conference: “The New Face of Muslim Consumers, socially conscious, engaged and innovative”
Our research found community is crucial for Muslim consumers. It’s also increasingly important for all consumers, and here’s why marketers must pay attention: “From me to we”
Islamic banks have an opportunity to increase market share: “The world is crying out for a better more ethical way of doing business” says Islamic bank CEO
“Islamic finance may face biggest shake-up in years as a top standard-setting body seeks reform.” The Islamic finance industry is worth an estimated $1.3 trillion according to this article
Global Islamic finance standards come to Australia, Malaysia, Singapore, and New Zealand
Bermuda works to expand its presence as one of the few Islamic finance centres in the Western hemisphere
Moscow hosts its 3rd international halal exhibition. Russian mufti notes the country’s halal movement began as far back as 2002
Oman hosts conference on Islamic finance and banking, and underlines its importance to the country’s economy
Chennai’s Global Health Centre becomes home to India’s first halal-certified hospital
A New Zealand conference will discuss the country’s role in the global halal economy