Paper Title
Development of Halal Market: A Critical Perspective

Muslims population as the second-largest adherents in the world is considered to be the most expanding religion globally. The concept of halal, meaning permissible according to the Islamic teachings, is often regarded as an absolute criterion for Muslims' consumption. Globalisation has also broadened this phenomenon. Today’s demand in halal products is not only centralised in Muslim countries, but has also spread out to Western communities along with the migration of Muslims all around the world. Nevertheless, behind its tremendous growth, halal market has some critical issues which need to be addressed. As the halal market continues to deepen and widen, serious implications haunt its growth. This business practices of commercialising halal has created commodification of Islam. The absence of international standardised regulation and control about certification of halal encourages this ongoing practice of commodifying Islam or ‘halalisation’. Therefore, international halal accreditation is a good initiative to ensure compliance of world-wide halal products to overcome some challenges lurking on this growing trend of halal market. Keywords- Halal market, Muslims, Islamic economy