Understanding Islamic and Halal Entrepreneurship from the Maqasidul Shari'ah Perspective

There have been paradigm shifts in entrepreneurship models in the global business landscape, including the Muslim world. However, the paradigm shifts that have given rise to Islamic and Halal entrepreneurship as deeply religious models have not been addressed in a manner that can be easily understood by both Muslims and non-Muslims. In this chapter, we aim to discuss Islamic and Halal entrepreneurship within the context of the Maqasidul Shari'ah perspective in order to enhance the understanding of these concepts among professionals, researchers, and practitioners in the converging Islamic economy. We have conducted a critical review of scientific papers to seek answers to our research questions. The collected data were systematically analyzed using a critical literature review (CLR) approach. Drawing insights from 54 articles that were critically reviewed, we have provided detailed explanations of the definitions of Islam, Halal, Islamic Entrepreneurship, Halal Entrepreneurship, and Maqasidul Shari'ah. Additionally, we have established strong connections between Islamic entrepreneurship and Halal entrepreneurship, as well as the Maqasidul Shari'ah perspective. Finally, we have made suggestions on how to maintain the interrelationships among these three concepts in light of the misconceptions that have occurred in the emerging Islamic economy. This chapter yields three theoretical implications.