The Role of Islamic Finance in The Halal Industry: Opportunities and Challenges
DOI:
https://doi.org/10.55265/al-maqasid.v3i2.88Keywords:
Islamic Finance, Halal Industry, Fintech, Waqf, Social Impact InvestmentAbstract
This paper explores the synergistic relationship between Islamic finance and the halal industry, two rapidly growing sectors in the global economy. It examines the current status and growth trajectories of both industries, highlighting their interconnectedness and potential for mutual reinforcement. The study investigates how Islamic finance can support halal production and investment, with a particular focus on emerging trends in Islamic fintech. The paper introduces innovative concepts such as the revitalization of waqf lands for halal agriculture and the integration of social impact investment. Additionally, it addresses the challenges faced in harmonizing Islamic finance with the halal industry, including regulatory complexities and the need for standardization. The research concludes by proposing strategies for overcoming these obstacles and fostering a more integrated Islamic economic ecosystem. This study contributes to the growing body of literature on Islamic economics by providing insights into the potential for Islamic finance to drive growth and innovation in the halal industry.
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Copyright (c) 2022 Kinan Salim
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.