May 22, 2011
AMCC features a company every week on its social media outlets (Facebook, Linkedin and Twitter) promoting products or companies which are meeting the growing needs of American Muslim Consumers. Companies/Products which were featured in the month of May were:
Where modern meets modest. Alsharifa’s mission is to bring its customers the best value on swimwear and other modest clothing lines for women.
Elan is the guide to Global Muslim Culture. The site features many Muslim bloggers who blog about news related to Muslim community. This could be the future Huffintonpost.com for Muslim world. Moniza Khokhar is the founder of Elan.
Abbott Nutrition (NYSE: ABT)
Abbott Nutrition’s internationally recognized brands include the Similac® brand of infant formulas; the Gain® brand of growing-up milks; the PediaSure® line of nutritionals for children; and the Ensure® brand of complete and balanced nutrition for adults. Abbott products are Halal certified by IFANCA.
Azzad Asset Management
Azzad Asset Management is an investment advisory firm registered with the Securities and Exchange Commission. Since 1997, our mission has been to provide discretionary asset management services through smart solutions designed to help you enjoy optimum investment performance without compromising your values. We feel that ethical and socially responsible investment is what ‘Shari’ah compliant’ is and rather than use labels we try to outline what our guidelines specifically are says Fatima Iqbal, Investment Adviser and Financial Planner of Azzad Investments.
At AMCC we keep a pulse on the Muslim Consumer market. These articles which were on major media outlets talk about opportunities and the growing demand in the Muslim Consumer market:
The demand for Halal in the U.S. and abroad from consumers has grown in the last few years. From 2005-2009, Datamonitor Group has estimated that the number of global halal product launches has increased by 150%. The exponential rate of increased halal ingredients and foods hitting the global and U.S. markets can be attributed to some key factors. One of these factors include rising prominence of the Islamic consumer market – specifically in the realm of food products.
Modesty and religion are the cornerstones behind the fast-growing Islamic fashion industry, which is making a mark on runways from Indonesia and Dubai to Monte Carlo. Islamic fashion is part of a growing appetite for sharia-related industries and assets, ranging from finance to halal food.
The number of Social Responsible Investing funds in the U.S. has grown to 250 with assets of $316.1 billion in 2010, up from 55 funds with $12 billion in assets in 1995, according to the Social Investment Forum. Some funds are devoted to investing based on religious beliefs or other social causes. The Ave Maria funds follow the doctrines of the Catholic Church, while the Amana funds abide by Islamic principles.
Tom’s of Maine has received certification that its personal care products are Halal–a term which means permissible under Islamic law. Business and Halal experts say the certification puts Tom’s in a category with very few other mainstream enterprises in America.