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Correlation of the Halal Industry & Islamic Finance
The recent growth of the halal industry can be attributed to various factors, including the growing demand globally for ethical and organic ecosystem. The halal industry has expanded beyond the halal food sector catering to other economic needs of the society, including cosmetic/personal care, agriculture, pharmaceutical and health, logistic services, media and travel/tourism. Like any growing business, the halal industry will require financing in a manner that would reflect the “halal” concept of the industry, a role that is expected to be played by the Islamic finance industry.