Arab Chamber of Commerce and Industry
The Arab Chamber of Commerce and Industry, also known as ArabCham, is a non-profit organization based in Hong Kong. Established in 2006, it promotes commercial ties between Greater China and the Arab world.
Activities
In 2007, the Chamber established a Shariah Advisory Council. Composed of Islamic legal experts, the council provides guidance on Shariah compliance for banking services, financial products, and commercial establishments in the region.
Hong Kong Islamic Index
In 2007, the Chamber created the Hong Kong Islamic Index to support Hong Kong's development as an Islamic financial center. The index tracks Shariah-compliant companies listed on the Hong Kong Stock Exchange. It initially comprised 78 companies, split evenly between Hong Kong and mainland China-based firms
The Chamber established the Amwal Credit Union in 2009 to provide Shariah-compliant financial services. It is a member of the Credit Union League of Hong Kong.
International Islamic Mediation and Arbitration Centre
In 2008, the Chamber established the International Islamic Mediation & Arbitration Centre to handle commercial disputes in accordance with Islamic legal principles.
The Mosque Building Fund is a charitable fund established by The Arab Chamber of Commerce and Industry in 2008. Its purpose is to finance the construction of mosques, community centers, and other facilities for the Islamic community. The fund collects donations from individuals and institutions, including mandatory Zakat contributions. These facilities serve Hong Kong's Muslim population, which is estimated at approximately 300,000 people.
The Hong Kong Institute of Islamic Studies was established by The Arab Chamber of Commerce and Industry in 2008 and offers educational programs in Islamic Law, Islamic Finance and Banking, and Islamic Insurance. Programs are offered in co-operation with the Institute of Professional Education and Knowledge of Hong Kong.
Affiliations
The Arab Chamber of Commerce and Industry is a member of the Islamic Financial Services Board, ICC- World Chambers Network, World Association of Non-Governmental Organizations, and a subscriber to the World Bank- Civil Society Organization.