Halal

This entry examines the concept of halal which holds a pivotal place and salience in the Islamic legal scholarship and in the identification of the scope of Islamic financial and business transactions. Referred to as what is allowed under Islamic jurisprudence, the term halal enjoys a broad connotation and interpretation which, thus, allows the jurists to develop their theoretical approaches relevant to the foundations of Islamic economics. Since it has to fulfill the basic tenets of Islam as a religion, Islamic economics and finance follows the rulings and views of Islamic scholars and jurists on what is allowed and what is not.