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Islamic finance and Halal product sectors are thriving successfully. This chapter is a general review of the perception of Asian consumers on Islamic finance and Halal sectors in the global Halal economy.

The first section will briefly describe the Halal concept in both Islamic finance and Halal industries, and the growth of both sectors in Asian countries. The second part highlights the review of Asian consumers’ perception towards Islamic finance products and Halal products.

The review found that the consumers’ perception towards the Islamic finance products and Halal products is distinctive. This is due to the diversity of Asian countries in terms of geography, religion, culture, ethnic, school of thoughts (madzahib), income per capita and government’s involvement.

The third part of the chapter concentrates on planning towards Halal marketing, which involves the move and future challenges in different layers of industries to gear up and strengthen the Halal economy.

This chapter sneaks a glance over five decades of Malaysian experience in nurturing and commodifying the halal industry. The assessment is made possible via the application of the industry value chain (IVC) approach. IVC shows that firms with the ability to conduct their business activities in compliance with government policies pertaining to halal matters will enhance their market prospect. Circumscribed to halal-related policies required meticulous efforts, yet it is a must to participate in the Malaysian halal industry. The analysis finds that the three key business activities like logistics, marketing and sales, and operation are the aspects which need a realignment to halal policies. The interconnected nature of the halal industry brings great opportunity for the firm to attain formidable business strategies for survival in unrelenting business climates. The close-knitted relationship among global halal authorities also benefits industry players in a way to expand and promotes their halal venture beyond Malaysia through year-round global halal trade exposition. Although the halal market offers lucrative prospects, firms need to address and tread carefully around the constraints presented in the market. Cost of realignment to policies, risk of asymmetric information, and certification fraud are among major barriers that hinder starting an operation in a halal setting. The IVC approach creates a clear picture regarding the market outlook, constraint, and need of firms interested of venturing into the halal industry. The chapter, however, covers the only gist of IVC analysis where the calculation of IVC for every chain of activities is not included here.

This chapter aims to extend the knowledge and understanding on the role of halal ports in halal logistics. Halal logistics is a relatively new area in supply chain management. It refers to the process of managing the logistics operations such as fleet management, storage/warehousing, and materials handling according to the principles of Shariah law in ensuring the integrity of the halal products at the point of consumption.

This chapter studies how, in halal logistics, ports play an important role as the main processes of delivering halal products to the end consumers should be performed through their gateway. At port, the logistical handling of goods is performed through four systems, namely, transfer, delivery/receipt, ship, and storage.

The halal control and assurance activities conducted at transport, terminal, and warehouse should be clearly inspected in preserving the halal status of the products, thus enhancing the halal supply chain performance. Such activities include having a dedicated halal warehouse and transport, use of tertiary packaging in shipment as well as segregation of halal products from non-halal products to avoid contamination.

This chapter also highlights the issues and challenges of adopting halal logistics faced by the industry. The issues and challenges discussed in the literature includes disunity of halal certification, high cost and low demand of the halal processes, inadequate Shariah compliant personnel and lack of a general and worldwide acceptable halal compliant process.

The chapter concludes with recommendation to perform qualitative research and case studies at specific ports in order to assess the role and implementation of halal ports in their supply chain processes.

Halal food despite its undeniable importance for Muslims is largely absent in the tourism development and planning literature. Given the fact that today Muslims represent more than 20% of world population and the number of Muslim tourists has grown significantly over recent years, there is a dire need to investigate the halal food's potential for both the tourism industry and world trade. Furthermore, it is important to investigate at both Muslim and non-Muslim tourism sites how availability of halal food has influenced the selection of a particular destination for vacation by Muslims.

This study aims to explore the presumed relationship between religion and purchase behavior of consumers in the context of Bangladesh.

This research is divided into two main parts. In the first one, the authors reviewed some of the most important studies relative to religion and marketing and those specifically relative to Islamic marketing. In the second part, this research shows the findings of a structured questionnaire administered to a sample of Muslim consumers currently residing in the capital city of Bangladesh – Dhaka. The questionnaire also sought to find out the respondents’ attitude towards the modern marketing tactics, in terms of the physical and visual appearance of local products, their perception of religious principles in the purchase decision and their attitude towards imported products of non-Muslim countries.

Results of this study highlight that religion often represents an essential reference point in influencing the perception and purchase behavior of consumers in the context of Bangladesh. This implies that marketing strategies based on Islamic ethics is going to be quite instrumental in order to reach out to the consumers in Muslim countries. As such, there is largely a strong positive relationship between religion and the purchase behavior of Muslim consumers.

The lack of research on Islamic marketing limits the intensity of arguments in this study. For this reason, the literature review is not completely exhaustive. A small sample size has also been used due to time and resource constraints. Future research can be done on a bigger sample size of Bangladesh or other Islamic countries across the world. Other research avenues may include the study of Islamic marketing mix and exploring the factors that can influence non-Muslim consumers to select products and services based on Islamic ethics.

It is very important for businesses to introduce healthy practices in countries like Bangladesh and this can be rightly achieved through the use of Islamic marketing. Furthermore, the use of Islamic ethics in marketing strategies can eventually influence the religious perception of consumers and make them loyal towards any brands, products, and services in the context of Bangladesh.

The chapter draws attention to Bangladesh as one of the potential markets where the concept of Islamic market mechanism can be established. It also highlights the challenges that global marketers can face with Islamic marketing in Muslim countries like Bangladesh. Besides, it is the only study to date that focuses upon the relationship of religion, marketing, and consumer behavior for consumer products of the manufacturing industry.

Worldwide growth in both the Muslim middle class and younger generation has resulted in Islamic tourism becoming a significant global market segment, and a key growth sector for the economies of Islamic countries. The 121 million Muslim tourists of 2016 were expected to be 156 million in 2020, whereas the total spendings of US $220 billion of Muslim tourists will reach in 2026, $300 billion. This chapter focuses on Iran as one of the important Muslim-friendly destinations. With Islamic principles already in place, Iran is aiming to become a world hub for Islamic or halal tourism, while meeting new challenges and pursuing creative alternatives.

This chapter offers a practitioners’ perspective on how Islamic banks in Malaysia deal with unlawful sources of funds. Specifically, it investigates the practice of Islamic banks in Malaysia in dealing with funds that originate from unlawful sources such as accepting deposits for safe-keeping and investment and providing financial facilities to customers whose incomes come from unlawful sources. This is regardless of whether the sources of fund are wholly unlawful or there is a mix of lawful and unlawful sources. A quantitative methodology is adopted to collect data from selected industry practitioners who are directly involved with Islamic banks, mainly officers of Sharīʿah departments, members of Sharīʿah committees and other stakeholders of Islamic banks. Based on a simple descriptive analysis, it is found that majority of the respondents opine that when the sources of funds are deemed unlawful, the bank cannot accept such deposits, investments or give financing to a customer if he or she is known to possess unlawful sources of funds. With respect to the mixed sources of funds or activities, that is, lawful and unlawful, the bank should not be prevented from receiving the funds either for safe-keeping, investment or payment of financing. The study also finds that banks have the right to investigate the sources of funds of the customers whether they are derived from Sharīʿah compliant, non-Sharīʿah compliant or mixed sources as part of the general due diligence implemented by such banks.