Entrepreneurship and the Halal Wave in Malaysia

Entrepreneurship and the Halal Wave in Malaysia

Aiedah Abdul Khalek (Monash University Malaysia, Malaysia)
DOI: 10.4018/978-1-5225-2835-7.ch011
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Abstract

The concept of halal was once perceived as solely a religious matter but now it has become a branding platform for entrepreneurs to expand their products worldwide. The role of halal in the development of entrepreneurship as a response to the demand of Muslim consumers in Malaysia is explored in this chapter. Furthermore, this chapter looks at exploring the role of the Malaysian government in institutionalizing halal, establishing halal certification and thus, analyzing the development of entrepreneurship towards halal certified business. In a nutshell, this chapter aims to provide an overview of the development, institutionalization, halal certification, the challenges of halal entrepreneurship and moving forwards traits for halal entrepreneurship. Keywords; Entrepreneurship, halal, certification, institutionalization.
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Halal Entrepreneurship In Malaysia

Halal entrepreneurship is a concept of entrepreneurship where halal is regarded as “entrepreneurial process for innovatively using opportunities to obtain economic gains and society equity on an equal footing” (Bustamam, 2012). Some called halal entrepreneurship as “halal driven entrepreneurship” and “halal minded entrepreneurship”.

Halal entrepreneurship has augmented tremendously in Malaysia. The country has been named as the first country in the world for establishing halal food indicators before the United Arab Emirates and Australia which were identified as second and third respectively in 2015. The value of the Malaysian halal food trade industry is estimated at RM37.7 billion (www.hdc.gov.my). Furthermore, Malaysia has also been selected as the top country for halal travel, pharmaceuticals, and cosmetics. The halal entrepreneurship started with halal food and then extended to non-food products, for example, personal care, cosmetics, tourism, pharmaceuticals, banking, financing and other services such as hospitality and logistics.

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