Purpose: The purpose of this paper is to examine the moderating effect of religiosity on the relationship between awareness and purchase decision of halal foods. Design/methodology/approach: Using a convenience sampling procedure, 200 questionnaires were distributed to various local higher education institutions with a 64% response rate. A moderated regression analysis is used to test the relationship between awareness and purchase decision, with religiosity as the moderating variable. Findings: As expected, the authors find that among the sample, the level of awareness toward halal foods is high, and that the effect of awareness on purchase decision is positive and significant. Importantly, they find that religiosity acts as a moderating variable on the relationship between awareness and purchase decision. Research limitations/implications: First, the sample was taken from higher institutions only and respondents were selected using convenience sampling. Hence, it may not be fully representative of the Brunei Muslim population. Second, there may also be omitted variables not considered in the study. Third, the survey instrument and conceptualization of religiosity are both issues that may require further investigation in the literature. Practical implications: The results indicate that awareness is an important antecedent of Muslim students’ intention to purchase halal foods. Marketers should design their campaigns focusing on creating awareness regarding their compliance with halal products. Moreover, food manufacturers and sellers should use the reliable halal certification and logo as a way to inform their consumers that their products are truly halal. Originality/value: This study adds to the current limited knowledge of halal foods research. In particular, the authors investigate the moderating effect of religiosity on the relationship between awareness and purchase decision of halal foods.

Purpose: The purpose of this paper is to explore two main aspects of waqf: the characteristics of waqf property and the management of waqf. This paper also discusses the governance of waqf management as a source of funds for Islamic microfinance institutions (MFIs). Design/methodology/approach: This research uses content analysis method to examine various literatures that discuss the concept and management of waqf. Findings: The characteristics of cash waqf such as permanence, irrevocability and perpetuity differentiate waqf from other type of donations. Therefore, cash waqf-based Islamic microfinance needs to be sustainable. Good corporate governance is vital to ensure the sustainability. As the donors of cash waqf do not aim to make financial profit, waqf-based Islamic MFIs will be able to provide low-cost capital to the poor entrepreneurs. Furthermore, to ensure the perpetuity of the waqf, it is suggested that only revenue from the waqf property should be used for microfinance fund. Social implications: The cash waqf-based Islamic microfinance will help the micro entrepreneurs to get low-cost capital without collateral. At the same time, public can donate any amount they afford to contribute to cash waqf. Originality/value: The creation of a cash waqf-based Islamic MFI must observe the issues of agency conflicts and the right of stakeholders to a transparent management. This paper emphasizes the importance of good governance in managing the waqf property as a source of fund for Islamic MFIs.

Purpose: – This paper aims to study the problems faced by microfinance institutions (MFIs) and relates it with Al-Tawhid to see the solutions. Design/methodology/approach: – An exploratory method was used to examine various literature that discuss MFIs, the challenge issues growing in tandem with the growth of the microfinance sector and the economic order of MFIs and tries to link it to Al-Tawhid. Findings: – The absence of Al-Tawhid concept in the practice of conventional MFIs caused the practices are not acceptable to Muslim micro entrepreneurs. Hence, the use of Al-Tawhid principles of contract suggested practices that are fair and free from elements of riba and gharar. It relates to the economics order by looking into the aims of providing finance up to reaching the consensus process or shuratic. Cash waqf is suggested as a source of fund for Islamic MFI for sustainability. Research limitations/implications: – The findings need to be supported with empirical study to come up with suitable models. Practical implications: – Alternative sustainable source of funds for the Islamic MFI is suggested. Social implications: – Activating the cash waqf will involve the society in large to contribute to the economic development. The beneficiaries, such as the poor and needy, will be able to find a source of living and be actively involved in generating income activities. Originality/value: – This paper highlights the cause of problems faced by conventional microfinance and relats the Al-Tawhid to overcome those problem conceptually.

The global halal market is witnessing significant growth, estimated at USD 2.41 trillion, and this upward trend is expected to continue due to increasing worldwide demand. In response to this lucrative opportunity, Brunei is actively supporting Micro, Small, and Medium Enterprises (MSMEs) and providing necessary facilities to foster the development of the halal industry in the country. This article aims to explore the current realities of Brunei’s halal sector by examining the factors that contribute to the rising demand for halal products and the opportunities presented by recent market developments. The research employed a method of assessing secondary data from various sources to achieve its objectives. The results highlight several factors influencing the development of the halal industry in Brunei. It is evident that the future growth of this sector hinges on industry players’ ability to expand their understanding of product sales and effective promotion strategies. The findings from this study can serve as a valuable resource for future researchers, academics, and policymakers when making informed decisions about the halal industry in Brunei. Keywords: Brunei, challenges, development, halal industry, realities

Indonesia and Brunei Darussalam have a significantly different economic structure where the Brunei Darussalam economy is very much dominated by oil and gas, whereas Indonesia is dominated by the manufacturing, trade, and agriculture sectors. This paper aims to identify the economic sectors that have the potential to achieve Sustainable Economic Growth (SEG) in both countries. Secondary data from several sources were processed using the multifactor evaluation process method. The results show that there are two economic sectors with equal potential in the two countries, namely, the Information and Communication Sector and the Business Activities Sector. The growth in these two sectors tends to increase; the addition of labor is greater than the increase in output, and they have a relatively limited environmental impact. However, this finding does not mean that other sectors cannot be sustained. On the contrary, they need regulations that will encourage a shift to an economic growth that cares about the environment and society, especially for crucial sectors such as agriculture as a food provider, and the manufacturing sector, which produces value added goods.