Halal Industry started to develop because of the rapid Muslim in this world. Muslim mankind growth more than 1.8 billion and also the sense of product consumes and services with Sariah convenient. Based on research “State of the Global Islamic Economic Report”, There is an amount rapid progress on start-up and the main company that deals with halal chance. Thus, the positive responses from industry communities and consumer towards the development of economic Islamic are the opportunities for investment to grow in the halal industry sector.

The opportunity of Halal product industry can be developed in 10 sectors, such as; Halal foods, tour, fashion, pharmacy, cosmetic, finance, assurance, education, art and culture, media and entertainment. The main market of halal industry are 57 countries member of Islamic Cooperation Organization (OKI) is 80% of the total number of Muslims in the world is 1.8 billion people with a transaction value of US $ 2.1 trillion in 2017. these opportunities should be owned by the majorities of Muslim members (OKI) to develop that 10 sectors of Halal industry.

The launched research of Indonesia Halal Life Centre and Dinar Standard research shows that the opportunities of halal economic Indonesia is the biggest in the world. The amount of Muslim population reaches 219 million, the largest Muslim population in the world, spending $ 218.8 billion in 2017 for the halal economic lifestyle which represents consumers that attract to global multinational companies in all halal industry sectors. Such as, Unilever a multinational company from United State launched toiletries products specifically for hijab women. And also, Lotte Mart company from South Korea offering halal food product through their outlets in Indonesia.

Moreover, beside food and halal tour, the Muslims societies also aware to the pharmaceutical industry. These halal medicines are produced in compliance with Sharia law, there is even clarity from the ingredients that does not contain anything that is prohibited. More specifically, halal medicines refer to drugs that should not contain parts of animals such as; dogs, pigs and those that are mainly with pointed teeth, insects, alcohol and other substances that are prohibited or called haram and are under Sharia law.

In generally Drug and Food Processing Institutions in various countries provides better separation of drug classifications as halal or ‘haram’ throughout the world. Meanwhile, halal pharmacy also follows pre-marketing and post-marketing which is controlled by relevant national pharmaceutical regulators such as the National Pharmacy Supervision Bureau as well as Malaysia.

In addition, the potential to be developed is Muslim fashion. The emergence of hijab fashion designers, has brought Muslim fashion started to globalize. Based on data from the Indonesian Ministry of Industry, about 30 percent of micro, small and medium enterprises (MSMEs) industry players are engaged in Muslim fashion. Of the approximately 120 million Indonesian women, around 30 percent or 40 million women use Muslim clothing. This expanse is very large market potential for a country.

Not only locally, but also a lot of fashion designer whom in the top worldwide has increased their export of Muslim fashion Indonesia. There are 80% Muslim clothing product has been sold for domestic market, meanwhile, there are 20% sold on export market.

The progress of the halal industry needs to be sustained from the supply side, it because all this time the amount of demand side in Indonesian Muslims is the most among other country. Industrial development does not have to go through old ways such as stocks and bonds, but it can also be done through crowdfunding which began to be developed in the application of financial technology. A scheme that complies with sharia principles is a system of equity-based or capital-based results. It is expected that with the participation of the community, the scale of Micro Small Business can develop into a halal industry that is able to support the needs of Muslims.

Technology development in the halal industry is absolutely necessary in the current era of digital revolution. For example, the Blossom Finance application is a good example, with a block chain solution to help SMEs improve finance through SUKUK. The Halal Chain application developed by Sulaiman Liu can make it easier for Muslim consumers to trace the raw material of a product especially if the product comes from non-Muslim countries. Many Indonesian Muslim consumers are active online and domestic companies that have noticed this have experienced tremendous growth across the spectrum, including Indofood, Wardah (cosmetics)  and Hijup (fashion).

So important is the role of technology for the economy, the International Seminar with the theme “HALAL PHARMACY AND COSMETICS IN INTERNATIONAL PERSPECTIVE “. Islamic economics has shown harmony with the latest technological and investment developments. Companies began using block chain technology for payments, to confirm halal compliance, or track food, cosmetics and pharmaceutical products from manufacturing facilities to retailers. In Islamic finance, block chain and automation develop access to financial services.