Borong, Malaysia’s leading wholesale B2B e-commerce provider, has introduced Salaam Market, the country’s first digital retail platform dedicated to the Halal sector.
Read also – Pakistan-based COLABS Secures $2 Mn Pre-Series A Funding
Launched in collaboration with Maybank Islamic, this initiative aims to position Malaysia as a leader in the international Halal industry.
Read also – EDGE and Pavo Group Form Strategic Partnership to Strengthen Cybersecurity Market Presence
Salaam Market is designed to empower local SMEs by providing Halal certification support together with Jakim Malaysia and financial services, facilitating their entry into the complex Halal market and expanding their reach globally. The platform enables SMEs in Malaysia, Indonesia, Cambodia, and Singapore to source Halal-certified products at competitive prices with no minimum order requirements, aiming to reduce costs and increase convenience.
“For us, this initiative represents a significant step in modernizing the Halal market,” said Aizat Rahim, managing director and co-founder of Borong. “Not only Salaam Market aligns with the country’s goal to become a global leader in Halal compliance, we also worked hard to ensure it addressed the key challenges for SMEs, which are affordability, financing, and certification, through the support of Maybank Islamic’s financing solutions while also being supported by JAKIM’s Halal certification.”
“Salaam Market will connect buyers and sellers in an e-commerce platform to make online transactions seamless. Each product sold on the platform has been verified of its Halal authenticity to give assurance to buyers. This is one of Maybank Islamic’s Halal beyond banking solutions to serve the needs of our customers and we will continue to strengthen our Halal ecosystem propositions to support the national agenda of growing the Halal domestic market to an estimated $113.2 billion by 2030,” said Maybank Islamic Strategic Program Director, Dr. Muhd Ramadhan Fitri Ellias.
The partnership with Maybank Islamic will enable Borong’s SME businesses to access the bank’s range of tailored Islamic financial solutions. In-house facilitation guidance on Halal-compliant operations, supported by digital management tools for documents, is also expected to improve easier access to Halal markets both locally and internationally.
The global halal market will be at $5 trillion by 2030, with the domestic growth estimated to be US$113.2 billion. However, the same space is still giving rise to several issues for the growth of SMEs, such as high ingredient costs, complexity in certification, and limitations in access to working capital, among others.
About Borong
Borong (formerly known as Dropee) is a B2B eCommerce solution provider that enables businesses to buy and sell in bulk online, confidently. Our mission is to increase product accessibility, transparency, and convenience via digitalising wholesale trade. We create digital solutions that help businesses become more efficient, agile, and customer-focused. Our digital products includes:
