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Governance of Malaysian Halal Food Industry: Conventional Governance vs Shariah Requirements

Table 2: Comparisons between conventional governance vs halal governance

Conventional Governance Halal Governance
Domain Reporting disclosures (transparency)Performance business practices (sustainability) Halal status of end-products/services
Main Regulator(s) Security Commission (SC)Bursa Malaysia JAKIMHalal Development Corporation
Focus of Recipient Shareholders and other stakeholders Muslim stakeholders (consumers)
Governance organ Board of DirectorsAudit committee Halal executiveInternal halal committeeManagement Responsibility
Sources of directives/requirements Listing RequirementsMalaysian Code on Corporate Governance (MCCG) Manual Procedure for Halal Certification (Domestic) 2020MS1500:2019 Halal Food General RequirementsMalaysian Halal Management System 2020
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