HALAL ECOSYSTEM: PROSPECT FOR GROWTH IN BANGLADESH

The purpose of this paper is to draw special attention to Bangladesh as one of the potential markets where the concept of Halal ecosystem can be developed. An overview of this dynamic concept, followed by the current stance, challenges and future outlook of Bangladesh regarding Halal ecosystem is thereby described. This study applies content analysis to identify general trends and research results of Halal ecosystem in a descriptive form. Using secondary sources, it also provides future directions for both Bangladesh and the global context. Government support and regulatory frameworks are crucial at this stage to strengthen confidence amongst consumers, industry players and investors regarding Halal ecosystem in Bangladesh. Moreover, regional and global arrangements for Halal certifications are necessary to fully embrace this concept in Bangladesh and beyond. However, lack of empirical data and research on Halal ecosystem limits the intensity of arguments in this study. Besides, absence of proper information regarding Halal certifications, database of companies involved in this dynamic process and initiatives of government and regulatory bodies in Bangladesh further hinder the presentation of a wholesome picture of Halal ecosystem.