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Ethical entrepreneurship and financing models based on Islamic principles are insufficiently researched and discussed in the emerging plural economic landscape. So far, Islamic theorists have made commendable efforts in this direction. To fill the knowledge gaps, this study aims to explore more rigorously the interdependence of halal entrepreneurship and Islamic finance in creating a strong halal ecosystem.

Using the Preferred Reporting Items for Systematic Reviews and Meta-Analyses (PRISMA) methodology, a systematic literature review (SLR) of 33 articles from 2001 to 2024 was conducted to answer three research questions. Publications were obtained using purposive sampling from the Scopus database. They were selected based on the ranking of high-quality journals, global coverage relevance to research and base years of publications.

Three key findings emerged from the SLR using the PRISMA protocol. First, halal entrepreneurship and Islamic finance complement each other by providing Shari’ah-compliant financial instruments, fostering ethical practices, enhancing market reach and ensuring business operations adhere to Islamic principles, thereby creating a cohesive halal ecosystem. Second, the strategic integration of halal entrepreneurship and Islamic finance – through innovation, sustainability practices, Shari’ah-compliant products, effective marketing and regulatory support – promotes economic growth, social welfare and sustainable development within the halal ecosystem. Third, Maqasid-ul Shari’ah principles guide halal entrepreneurship and Islamic finance by ensuring ethical standards, promoting social justice, emphasizing sustainability and ensuring that business and financial practices benefit society and adhere to Islamic ethical standards. These findings aid in developing a theoretically grounded conceptual framework for future empirical investigation.

Practically, policymakers, Islamic financial institutions and halal entrepreneurs can leverage this integrated approach to drive economic growth, social welfare and sustainable development, aligning operations with Maqasid-ul Shari’ah to ensure ethical standards and societal benefits. In addition, the findings aid in developing a theoretically grounded conceptual framework for future empirical investigation, both theoretically and methodologically.

Given the paucity of studies in this multidisciplinary area, this paper offers new insights into the interdependence of halal entrepreneurship and Islamic finance, grounded in the finance–growth nexus theory and Maqasid-ul Shari’ah principles. Unlike other exploratory studies, this research presents a theoretically grounded conceptual framework, paving the way for future empirical investigations.

This study aims to investigate the variables influencing halal entrepreneurial behavior among Thai small and medium-sized enterprise entrepreneurs in Phuket, promoting the region as a halal destination.

A quantitative, cross-sectional research design was used, involving a self-administered questionnaire to collect data from Muslim entrepreneurs between February 2024 and May 2024. Thus study achieved a high response rate of 94.37%, with 302 valid surveys analyzed out of 320 participants.

The structural model analysis revealed that local and country policies supporting entrepreneurship did not significantly impact halal entrepreneurial intentions or behaviors. However, entrepreneurial self-efficacy showed a significant positive effect on halal entrepreneurial intentions but not on behaviors. Halal knowledge significantly influenced both halal entrepreneurial intentions and behaviors. In addition, halal entrepreneurial intentions significantly positively impact halal entrepreneurial behaviors. These findings highlight the crucial role of self-efficacy and knowledge in fostering halal entrepreneurship in Phuket, suggesting targeted support to promote the region as a halal destination.

This study provides valuable insights into the factors influencing halal entrepreneurial behavior in Phuket, a region with the potential to become a prominent halal destination. The research suggests targeted support strategies to foster halal entrepreneurship by highlighting the roles of self-efficacy and halal knowledge. The findings contribute to the existing literature by elucidating the nonsignificant impact of policies while reinforcing the significance of personal and knowledge-based factors in entrepreneurial success within the halal context.

The purpose of this paper is to examine how Halal entrepreneurs perceive success and accordingly develop a novel scale to measure Halal entrepreneurship success.

A sequential mixed methodology was used to develop the Halal entrepreneurship success scale (HESS). The qualitative phase began with a literature review to gain insights into (Halal) entrepreneurship success and identify gaps. Ten respondents were then interviewed to understand how they perceive success. The scale items were then generated based on insights from the literature and the interview findings. The quantitative phase was carried out in two cycles. In the first cycle, a questionnaire was developed and pilot data were collected from a representative sample of 100 respondents. In the second cycle, the revised scale was tested on 300 respondents to confirm its final items and dimensions. Exploratory factor analysis and confirmatory factor analysis were used in the quantitative phase.

The final HESS scale contains 24 items divided into four dimensions: Islamic success (seven items), economic success (six items), social success (five items) and environmental success (six items).

This scale is perhaps the first to measure entrepreneurial success in its association with religion. It is expected to be a useful contribution to entrepreneurship theory and the Halal industry. The paper presents a foundation for future works on how to define the measures of success of Halal entrepreneurs.

This study aims to conceptualize and investigate the relationships between halal entrepreneurial success, innovation capability and sustainable innovation in the halal industry.

Both integrative and generative approaches are combined to move forward from the literature to a theoretical contribution. The paper presents a model that relates halal entrepreneurial success to innovation capability and sustainable innovation. A purposive sample of 340 Malaysian halal entrepreneurs is used to test the conceptualized model. The partial least square technique was then used to assess the structural model.

The results disclosed that halal entrepreneurial success is positively related to both innovation capability and sustainable innovation. Also, the innovation capability mediates the relationship between halal entrepreneurial success and sustainable innovation.

This research conceptualized and examined a novel model that assesses the relationships between halal entrepreneurial success, innovation capability and sustainable innovation in the halal industry.

The aim of this conceptual paper is to define Halal tourism based on the current practices and to explore the available innovative business opportunities in Halal travel industry that could be exploited by Halal entrepreneurs.

Critical assessment in Halal tourism literature is used to define Halal tourism and to link between Halal entrepreneurship and Halal tourism to explore innovative marketing opportunities for entrepreneurs.

New Halal tourism definition is suggested based on the current practices in this field. The paper also provided new prospects for Halal Entrepreneurs that could enable them to start new ventures in Halal tourism industry.

This study provides new theoretical and practical contribution in Halal tourism and Halal entrepreneurship. The findings could help tourism operators, Halal entrepreneurs to introduce Halal tourism products and services for catering Muslim traveler needs.

Halal certification is predominantly linked with the product and its production process. However, certifying price, place and promotion (3Ps) has not received enough attention theoretically and empirically. Against this backdrop, this study aims to unravel the halal certification of the marketing mix in Bangladesh’s cosmetics industry.

Fourteen mid and top executives from 12 national, international and multinational cosmetic companies were interviewed from November 2023 to January 2024. The data were analyzed using ATLAS.ti 2024 to showcase content, concept, sentiment, correlation, network and thematic analysis, exploring respondents’ perceptions aligned with Islamic principles.

The respondents held highly negative perceptions about certifying halal pricing, followed by promotion and supply chain or place. The mixed perceptions illustrate that certifying the halal product is easier than certifying the halal price, promotion and place (3Ps). Conditional and positive perceptions can foster halal certification of the entire marketing mix, while negative perceptions seem to be a threat to the halal cosmetics industry.

The findings have implications for academic, managerial and policymaking issues, benefiting halal cosmetics consumers. Based on this empirical study, halal stakeholders can determine the likelihood of certifying the entire marketing mix.

This study proposes certifying the halal status of the marketing mix against the backdrop of the scarcity of theoretical and practical premises.

This paper aims to investigate the impact of halal awareness on the relationship between halal supply chain knowledge and purchase intention for halal meat products in the millennial generation.

The quantitative approach with the respondents of 177 millennial generations in Indonesia is selected to understand the relationships between variables. Structural equation model-partial least square is used to analyze the relationship between variables.

The findings of this study found that the purchase intention of halal products in the millennial generation is influenced by several factors such as halal supply chain knowledge, halal certification and logo and religious beliefs. However, the results of this study also show that concern for halal products failed to moderate the relationship between these three main variables on the purchase intention of halal products.

This study provides insights into the concern that strengthens the relationship between the main variables on the intention to purchase halal meat products for the millennial generation.

While the Noble Quran dictates the prohibition of interest, conventional banks promote Islamic banking by opening Islamic banking windows. Against this backdrop, this study aims to investigate the perceived gaps between managers and clients in Islamic marketing and banking, focusing on conventional banks’ Islamic banking windows.

Guided by a qualitative approach, semi-structured personal interviews and observations served as the data collection methods, involving 25 banks and 50 respondents in 3 different districts, namely, Shirajganj, Rajshahi and Chapainawabganj of Bangladesh from January to October 2023. The data were analysed using ATLAS.ti 2023 to explore codes and quotations derived from 14 interview questions. Further, ATLAS.ti 2023 facilitated synthesizing content, concepts, code occurrence, network analysis and thematic analysis.

Islamic and non-Islamic banks use Quranic verses, hadiths (prophetic traditions), images of mosques, the Kaaba and Arabic texts as Islamic marketing tools. These spiritual, divine and prescriptive tools are associated with Islamic banking. However, conventional banks receive criticism for having separate Islamic banking windows to serve religiously conscious clients, which generates tension among clients and bank managers.

The findings can theoretically assist academics in examining conventional banks’ Islamic marketing and banking practices, opening Islamic banking windows. Importantly, Shariah boards can play policy roles in safeguarding the function of Islamic marketing and banking. Managers can use the findings to anticipate client perceptions and enhance Islamic marketing and banking strategies. Likewise, the social implications include the explicit stance of Shariah to mitigate the mixture of halal and haram banking.

This pioneering study explores the perspectives of Islamic banking windows by non-Islamic banks. The combination of Islamic marketing and banking is a noteworthy novelty in this study and deserves recognition for its unique contribution to halal marketing and finance.

This paper aims to address the factors associated with a propensity for halal entrepreneurship among small and medium enterprise (SME) entrepreneurs.

Data were gathered from SMEs in Malaysia by conducting a survey with 209 respondents. Data were analyzed with the partial least squares technique.

Results indicated that halal entrepreneurship, intrinsic motivation, effort to seek out opportunity, perceived desirability, peer influence, perceived feasibility and perceived governmental support significantly affected halalpreneurial propensity among SME entrepreneurs. On the other hand, the effects of creativity and innovation, honesty and integrity, risk taking attitude, relative advantage and family supports on halalpreneurial propensity were not supported.

Through identification of the motivational factors to be recognized as a halapreneurs, policyholders in Malaysia would be able to successfully promote halal entrepreneurship in this country. In this regard, policymakers can adjust their tactics and strategies in a way which encourage halal entrepreneurship among SME entrepreneurs.

This study aimed to serve as an initial step in understanding the cognitive process of SME managers in embarking on halal business.