Towards Integrated Halal Sectors and Islamic Financing: The Academia Perspectives

Abstract

The Halal concept in principle is viewed from the broader perspective. The word ‘halal’ which refers to the ‘lawful or permitted’ indicates its broadness in every aspects of human life. The halal industry — with its various sectors such as food and beverages, and Islamic banking and finance — grows because of this factor. While there is a call to integrate Halal sector with Islamic financing, there is lack of pressure on an integration of Halal sector with Islamic financing materialized in practice. This study focuses on this agenda by assessing the perception of the academic staffs of a Malaysian Islamic Higher Education. The respondents come from the background Islamic Law, particularly the Halal discipline. This study relates this aspect from the view of objective of Islamic Law (Maqasid Shariah) and governance. Findings from interviews showed mix result, with the majority support for Halal integration and others do not. This study provides the groundwork for the holistic halal economy.