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Happy Friday! Here is some brain food for the coming week whilst you reflect on how your brand can reach out to the growing Muslim consumer market estimated at 1.8 billion people and an annual spend of USD$2.1 trilion.

This week at Ogilvy Noor

We are looking in-depth at the groundbreaking Noor Brand Index. In the eyes of Muslim consumers, how friendly are global brands to their needs? This is a question that we at Ogilvy Noor set out to answer.

Our findings are published in the Noor Brand Index, a first-of-its-kind study into Muslim consumer attitudes towards global brands. For the very first time, there is a benchmark of the appeal of  specific brands to Muslim consumers. And the results might surprise many.

The Ogilvy Noor Brand Index ranks 35 global brands from within five categories: beverages, food and dairy, personal care, financial services, and aviation industries.

Surprised to learn that Lipton, Nestle and Nescafe topped the list, and that Islamic banks fared worse than other brands? Learn which brands have won over Muslim consumers and what your brand can learn from the Noor Brand Index.

Ogilvy Noor also discusses with Marketing-Interactive Magazine the rise of on-line spaces that aim to offer a marketplace and forum for halal products and services aimed at Muslim consumers. “Is Online the New Space for Halal?” asks the publication.

News about Muslim consumers and the world of Islamic branding

Let’s start by reminding ourselves of the importance and scale of the opportunity with Muslim consumers. According to the Pew Forum, by 2030 the Muslim population of 79 countries will exceed 1m which means brands need to engage with Muslims more than ever

In the Middle East the discussion continues about how to build brands for this emerging segment. “We need an increasing number of Islamic brands to have their presence across the Muslim world, from Turkey to Indonesia and from Malaysia to Morocco. We also need to have [Islamic] brands in service industries like travel and hospitality”

The importance of ethics is growing in the eyes of consumers all over the world, and according to our research Muslim consumers are at the forefront of expecting good corporate behaviour. “A Muslim merchant should be truthful and faithful. He also should fulfill his promises” advises Islamic scholar

‘Ethical behaviour key to PR practice’ explains one report

In South East Asia “local businesses would do well to start marketing their products the Islamic way” to be a global halal hub

In news about Islamic finance, the UK bids to remain the West’s top Islamic finance hub

Scotland’s contribution to the banking industry is well-known: from the world’s first savings bank to Adam Smith. Now Scotland turns its attention to Islamic banking

Networking site LinkedIn draws a million users in the UAE

Malaysia foresees halal export growth of 6% in 2012

The EU Executive calls for the promotion of Muslim tourism in Europe

Queensland Tourism positions itself as Muslim friendly in order to attract a growing number of Indonesian Muslim tourists

The World Islamic Economic Forum (WIEF) is to hold a ‘Marketplace of Creative Arts’ in Indonesia

“Muslim women have more clothing options that satisfy both religion and fashion”