HALAL REIMAGINED: IR4.0 TECH DRIVES SUSTAINABILITY AND INCLUSIVITY IN ISLAMIC MONETARY ECONOMICS
DOI:
https://doi.org/10.33102/mjsl.vol13no1.736Keywords:
Halal industry, IR4.0 technologies, Islamic monetary economics, sustainabilityAbstract
The expanding Halal sector, anticipated to reach USD 3.6 trillion by 2026, presents a significant opportunity to promote inclusive and sustainable economic growth based on Islamic values. Nevertheless, the industry faces challenges in achieving operational efficiency, ensuring transparency, and promoting financial inclusion. Industry 4.0 (IR4.0) technologies—namely Blockhain, Artificial Intelligence (AI), and the Internet of Things (IoT)—offer innovative solutions to address these issues. These technologies optimise resource utilisation, enhance operational transpacrency, and foster customer trust by ensuring compliance with Halal and ethical standards. This study underscores the importance of integrating IR4.0 technologies into the Halal industry with Islamic Monetary Economics (IME) principles, particularly in promoting financial inclusion, ethical procurement, and sustainability. Employing the Triple Bottom Line (TBL) framework, this study integrates Economic Sustainability (Financial Inclusion), Social Equity (Maslahah), and Environmental Stewardship (Tayyib) into a comprehensive model that connects IR4.0 technologies with the maqasid al-Shariah. By prioritising the preservation of faith, life, intellect, progeny, and wealth, this model positions the Halal industry as a global leader in ethical and sustainable economic development. This study employs a qualitative research design, appropriate for addressing the selected research topics and issues. The findings highlight the urgent need for stakeholders—businesses, regulators, and consumers—to embrace technological innovations and adapt to the evolving global commerce landscape. By taking proactive measures, stakeholders can harness IR4.0’s potential to shape a prosperous and inclusive future for the Halal industry and its communities. Ultimately, this study emphasises the sector’s potential to drive economic growth, social equity, and environmental sustainability, shaping a more inclusive and prosperous future for the communities it serves.
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Copyright (c) 2025 Adlin Masood, Umi Hamidaton Mohd Soffian Lee, Alina Abdul Rahim
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