Recent Contribution of Islamic Finance and Economics: a case study of Malaysia into Halal Industry of Sejahtera & Humanizing Approach

• Main Author: Mhd. Sarif, Suhaimi
• Format: Conference or Workshop Item
• Language: English; English
• Published: 2022
• Subjects: BPH114.3 Halal industry science; HF5387 Business ethics
• Online Access: http://irep.iium.edu.my/100215/1/Oral%20Presentation%20Notes%20Suhaimi%20Mhd%20Sarif.pdf; http://irep.iium.edu.my/100215/2/Surat%20Narasumber%20International%20Webinar%20FEBI%20UINSU%20Medan%20Prof%20Suhaimi.pdf; http://irep.iium.edu.my/100215/

This presentation presents the recent contribution of Islamic Finance and Economics to the halal industry with specific reference to Malaysia. The halal industry started with a regulatory framework in 1974. Later the halal industry has been paired with the first Islamic bank in 1983 and then in 1999 with the second Islamic bank. Halal Industry has been part of the industrialization in the Malaysian economy. The potential of the world halal industry for more than USD 2 trillion requires more collaboration between producers and consumers for more responsible consumption and production. While the regulated environment of the halal industry provides assurance and quality, there is a need for agility in the industry. The presentation recommends for responsible production and consumption into the halal industry.