SHAH ALAM: The Federal Government is not sidelining states governed by the opposition in its efforts to promote halal products and services.

Minister in the Prime Minister's Department Datuk Seri Ahmad Zahid Hamidi said the Federal Government cooperated with the states on the matter.

"We not only do this in Selangor but also in Penang where we are developing a halal hub in the northern part of the state.

"This is to show that Islamic policy, governance and administration do not discriminate based on political beliefs of a leader or a state," he said after launching I-Berhad's International Islamic Hub in I-City.

I-City's RM800 million International Islamic Hub will take up 0.8ha of its 11.6ha integrated commercial development plan and is expected to be completed in four years.
In his speech earlier, Ahmad Zahid said in light of the current economic crisis, it was timely for the business sector to look at Islamic banking as an alternative as it appeared to be more robust than conventional financial institutions.

"It is a system that is both fair and equitable as both parties are presented with a win-win situation. This is in line with our prime minister's vision for Malaysia to be well poised to lead any attempt to reform the global financial system by infusing concepts and themes borrowed from Islamic finance."

Zahid said Islamic banking terms should be simplified to ensure that non-Muslims understood the concepts of Islamic finance.

"It is important not to scare non-Muslims with big Islamic terminologies like mudharabah (concept of profit sharing) and make the terms easier to understand to avoid prejudice and Islamophobia."

The first phase of I-City's commercial space has already been completed and 80 per cent of it has been bought by Saudi Arabia banking group Al-Rajhi. Masterplanned by award-winning architect Jon A Jerde, I-City has been given MSC Malaysia Cyber centre status and is designed as a fully integrated township. Also present was I-Berhad executive chairman Datuk Lim Kim Hong.