Consumers' Consent towards Halal Industry and Islamic Finance Integration: What are the Determining Factors? You are here:International Journal of Management Studies (IJMS) About The Journal International Journal of Management Studies (IJMS), 26 (2). pp. 125-155. ISSN 2180-2467 (2019)
Abstract
The encouragement of the development of halal industry and Islamic finance indicates positive understanding of global Muslim community on the importance of these two industries. However, at the operational level of halal, the literature review shows that the integration of these two industries is still at the low level. In Malaysia, the screening process for JAKIM halal certification has still not verified that the Islamic financial instrument complies with the work capital financing and financial transaction of halal industry. This situation has to some extent tarnished the credibility of Malaysian halal ecosystem as it is still not able to guarantee that the halal concept is executed fully from the farm until on plate. Therefore, this study aims to examine the consumers’ consent towards empowering the measures of screening for Malaysian halal certification by obligating Islamic financial integration in national halal standard. By implementing survey method to respondents around Lembah Klang, this study analysed collected data through binomial logistic regression. The study found that majority of the consumers agreed that the integration of halal industry and Islamic finance be executed to improve the standard and procedures of JAKIM halal compliance. Several factors have been recognised to be significant to this consent such as factor of religious education, halal awareness, halal literacy and Islamic financial literacy. Suggestion for this improvement at the same time will uplift the integrity of national halal certification that it will be more comprehensive and competitive at the international level.
| Item Type: | Article |
|---|---|
| Keywords: | Halal ecosystem, determining factor, halal industry, Islamic finance |
| Taxonomy: | By Subject > Business & Management > Finance |
| Local Content Hub: | Subjects > Business & Management |
| Depositing User: | Eza Eliana Abdul Wahid |
| Date Deposited: | 01 Aug 2021 13:57 |
| Last Modified: | 01 Aug 2021 13:57 |
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