Integrating Halal Industry with Islamic Funding: Where Are We Now?

International Convention on Islamic Management, Academy of Islamic Studies, University of Malaya, 2015

7 Pages Posted: 10 Mar 2017

See all articles by Nurul Aini Muhamed

Nurul Aini Muhamed

Universiti Sains Islam Malaysia (USIM)

Nathasa Mazna Ramli

Universiti Sains Islam Malaysia (USIM)

Sumaiyah Aziz

Universiti Sains Islam Malaysia (USIM)

Nor Yaakob

Universiti Sains Islam Malaysia (USIM)

Mohd Hakim Ismail

Universiti Sains Islam Malaysia (USIM)

Date Written: November 4, 2015

Abstract

Integrating Islamic funding with Halal industry is viewed as a way to increase consumers’ confidence on Halal products and services as well as to boost up the Halal businesses. One of its approach is by channeling the Islamic funds from Islamic capital market instruments (ie. equity and sukuk). The question is, how far the integration is adopted in the Halal industry? This paper extends this agenda by examining the current practices of the regulators on their screening and certification process. This study used the primary data for data collection. Interviews have been made with respondents who involved in the Halal certification and screening process of shares. Findings evidently show that there are different practices on Halal certification and Shariah compliance recognition. This study suggests that collaboration among these institutions can lead to the realization of integration agenda.For the start,efforts can be done by identifying, recognizing and coding the goods and products that gained both of recognition. The data can be published to customers. This study will enhance understanding on the current approach used by authority bodies in Halal industry.

Keywords: Halal Industry, Islamic Finance, Integration of Halal Industry

Suggested Citation

Muhamed, Nurul Aini and Nathasa Mazna Ramli and Aziz, Sumaiyah and Yaakob, Nor and Hakim Ismail, Mohd, Integrating Halal Industry with Islamic Funding: Where Are We Now? (November 4, 2015). International Convention on Islamic Management, Academy of Islamic Studies, University of Malaya, 2015, Available at SSRN: https://ssrn.com/abstract=2929842

Nurul Aini Muhamed (Contact Author)

Universiti Sains Islam Malaysia (USIM) ( email )

Bandar Baru Nilai
Nilai, Negeri Sembilan 71800
Malaysia

Nathasa Mazna Ramli

Universiti Sains Islam Malaysia (USIM) ( email )

Bandar Baru Nilai
Nilai, Negeri Sembilan 71800
Malaysia
606 7986302 (Fax)

Sumaiyah Aziz

Universiti Sains Islam Malaysia (USIM) ( email )

Bandar Baru Nilai
Nilai, Negeri Sembilan 71800
Malaysia

Nor Yaakob

Universiti Sains Islam Malaysia (USIM)

Bandar Baru Nilai
Nilai, Negeri Sembilan 71800
Malaysia

Mohd Hakim Ismail

Universiti Sains Islam Malaysia (USIM)

Bandar Baru Nilai
Nilai, Negeri Sembilan 71800
Malaysia

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