Integrating Islamic Business Ethics, Halal Certification, and Islamic Marketing for Halal Brand Development

Abstract

This short communication summarises the speech at International Halal Conference 2023. This study explores the intersection of Islamic business ethics, Halal certification, and Islamic marketing strategies in the global Halal industry. By analyzing current practices and emerging trends, the research distinguishes Islamic marketing's focus on faith-based consumer behavior from conventional approaches. It identifies the "Muslim futurist" as a key demographic, blending traditional Islamic values with modern global perspectives. The paper examines the Halal industry's sectors—food, finance, travel, fashion, pharmaceuticals, cosmetics, and media—highlighting its extensive market reach. A critical analysis of Halal certification standards, particularly OIC/SMIIC 1, suggests the need for integrating Islamic business ethics more comprehensively. The study also adapts the traditional marketing mix (4Ps) to align with Islamic principles and identifies challenges and opportunities in multicultural, Muslim-majority, and Muslim-minority markets. Notably, about 30% of Halal product consumers are non-Muslims, drawn by ethical and sustainable practices. The research calls for developing specific standards for Islamic business ethics in the Halal industry and contributes valuable insights for practitioners, policymakers, and researchers navigating the global Halal market.