Lifestyle

Energizing The Halal Economy With Angel Investors

Halal Angels Network was launched in Ramadhan this year, in May 2020, amid the global Covid-19 pandemic. The launch was timely given the financial impact had led to many businesses to lose money, and people to lose jobs.

Halal Angels Network targets investments in Halal and ethical businesses, as well as to promote innovation and entrepreneurship. The Halal Angels Network would also serve as a business network where members could be networking with each other for businesses. We spoke with its founder, Dr. Tausif Malik, an American based in India.

Who is Dr. Tausif Malik

Dr. Tausif Malik is the man behind the Muslim spelling bee in America. Malik established a community based “Muslim Spelling Bee” with the sole idea of increasing Muslim Student participation at major spelling bee competitions. According to Malik, this social enterprise has now emerged as the second-largest spelling bee & largest community-based spelling bee competition.

Malik used his advertising, marketing, public relations, and publishing experience to build the competition with help from community leaders and his personal contacts in Chicago.

Dr. Tausif Malik

Little that people know while making the Muslim Spelling Bee a reality, Malik was driving a taxi to support himself. He could easily take a job, with his qualifications he could easily take a 9-5 Job.

“If had taken a 9 to 5 job, it would be difficult for me to work on the spelling be competition because as Muslim you are not allowed to be moonlight while working. Whatever you do in business the blessings of the almighty is the most important thing.”

Riding On An Earlier Success

He is a serial entrepreneur who started the Halal Angels Network after the success of his earlier initiative, the All India Muslim Business Startup Network (AIMBSN). AIMBSN aim was to promote Halal businesses and entrepreneurship among Muslims in India.

Riding on the success of AIMBSN, Dr. Tausif Malik then went on to recreate the model for the global Halal market, hence, the Halal Angels Network was launched.

Quality Angel Investors

Malik said that “the Angels Network is looking to have 500 angel members. We’re looking at getting angel investors who can also contribute in non-monetary ways.”

“We’re looking for global investors. We are looking for different representatives from different countries to be board members and advisors to Halal Angel Network. This also includes angel investors with various expertise. “

Backed By Blockchain

According to Malik, “While doing that, we wanted to do this on the blockchain technology. Alhamdulillah, we are the first ecosystem to be backed by blockchain.”

Your Details are Our AMANAH
Get our weekly newsletter

“What blockchain does is, it creates an ethical ecosystem. It creates all the data in blocks.”

The Global Halal Economy

The global Halal market is valued at USD2.4 trillion in 2020 based on the State of the Global Islamic Economy Report by Dinar Standards.

The report also mentioned that only USD 6 million was invested in 2019 in the global Halal economy by angel investors, representing less than 1 percent of USD1.2 billion investments in the global Halal economy.

The Halal Angels Network has the potential to fuel the halal economy which is underfunded as it is.

Malik has a great vision for the Halal Angel investors, he wants to see ideas that can fuel the halal economy to get the funding they deserve.

“We are looking for angel investors with various expertise who can be advisors to the startups they invest in.“


Recent Posts

Saudi Arabia launches Nusuk, a digital platform for visitors with info on umrah visa and holy sites

Saudi Arabia's Ministry of Hajj and Umrah announced the launch of Nusuk (nusuk.sa), the official Saudi integrated digital platform that… Read More

September 27, 2022

MIHAS 2022 Halal Trade Exhibition Theme on Diversifying Halal Potential

The Malaysia International Halal Showcase (MIHAS) is held on the 7th to the 9th of September, 2022 in Kuala Lumpur.… Read More

September 9, 2022

Correct Tajweed and Happiness Hormones

Researchers have found that humming can significantly improve your health and happiness hormones. Wait for a second, what does this… Read More

August 27, 2022

What Angel Investors Look For Before Investing – Tips from an Angel Investor

Have you ever wondered what an angel investor looks for before investing in a company? If you have, then you… Read More

August 15, 2022

Ethis Launches Super Angel Syndicate for Islamic Startup Funding

Ethical and Islamic investment, and social finance platform operator, Ethis Group has re-launched the Ethis Super Angel (ESA), rebranding it… Read More

August 11, 2022

Eradicating Internet Poverty with Breakthrough Latest Wi-Fi Technology

The coronavirus has exposed the digital divide like never before, so much so that Internet poverty is said to be… Read More

August 8, 2022