Dynamics of Sharia Economic Law in the Halal Industry Context

Abstract

This study examines the dynamic interplay between Islamic economic law and the halal industry, focusing on the challenges and opportunities presented by globalization, technological advancements, and evolving market demands. Through comprehensive literature review and analysis of contemporary practices, the research explores key areas including regulatory frameworks, international standardization efforts, technological integration, and financial innovations within the halal ecosystem. Findings reveal significant progress in developing comprehensive legal structures for the halal industry across various countries, yet highlight persistent challenges in achieving global harmonization of halal standards. The study identifies a critical need for adapting Islamic economic principles to digital technologies and modern business practices, particularly in areas such as blockchain-based supply chain management and AI-driven halal certification processes. Furthermore, it uncovers tensions between theoretical Islamic economic models and their practical implementation in the halal industry, especially in financial product development and risk management strategies. The research also notes an evolving interpretation of maqasid al-shariah to encompass broader ethical considerations including environmental sustainability and social responsibility. These insights underscore the necessity for a more dynamic, interdisciplinary approach to Islamic economic law that balances sharia compliance with economic efficacy. The study concludes by recommending enhanced collaboration among stakeholders, investment in technology-driven solutions, and continuous education to foster innovation while maintaining ethical integrity in the rapidly growing global halal market.