Article Sidebar

Mapping Islamic banking and sustainable development research: A Scopus-based bibliometric and VOSviewer keyword co-occurrence cluster analysis (2008–2024)
Submitted
May 9, 2025
Accepted
September 12, 2025
Published
October 30, 2025
Download
PDF Review Reports Originality Report
Statistic
Read Counter : 89 Download : 67

Main Article Content

Abstract

Introduction
Sustainable development has become a central paradigm in contemporary finance, shaping how banking institutions align capital allocation, governance, and social value creation with long-term development goals. Within this context, Islamic banking is increasingly examined as a values-driven system that may support sustainable development through ethical foundations, Sharia compliance, and inclusion-oriented financial practices. However, the expanding literature remains fragmented across themes, methods, and policy debates, creating a need for systematic mapping of its intellectual structure and research frontiers.
Objectives
This study aims to (1) map the evolution and distribution of research on Islamic banking and sustainable development, (2) identify dominant and emerging thematic clusters through keyword co-occurrence, and (3) highlight research gaps and future directions that can inform theory development, banking practice, and sustainability-oriented policy.
Method
This study employs a bibliometric approach using Scopus metadata retrieved through the query (TITLE-ABS-KEY ( islamic AND bank ) AND TITLE-ABS-KEY ("sustainable development")) AND PUBYEAR > 2007 AND PUBYEAR < 2025, producing 120 documents. Keyword co-occurrence cluster analysis was conducted in VOSviewer with the following settings: type of analysis co-occurrence, unit of analysis all keywords, and minimum keyword occurrence of two. Of 602 keywords, 95 met the threshold. The thematic structure was interpreted using network visualization, overlay visualization, and density visualization.
Results
The findings show that “sustainable development” functions as the most central and highly connected concept, indicating its role as the primary thematic anchor of the literature. The network structure reveals multiple interconnected streams, including (1) corporate social responsibility, Sharia-aligned environmental, social, and governance, governance mechanisms, and bank performance; (2) sustainable development goals, poverty, financial inclusion, and Islamic social finance; and (3) methodological diversification combining econometric modeling and qualitative inquiry. Overlay patterns suggest a shift from earlier governance and performance-focused studies toward more recent emphasis on sustainable development goals, inclusion, and innovation.
Implications
The study provides evidence that sustainability in Islamic banking research is increasingly institutionalized through governance and reporting pathways while expanding toward inclusion-driven development agendas. These insights support more coherent research agendas, improved sustainability governance practices, and policy frameworks that strengthen Sharia-aligned environmental, social, and governance integration and social finance effectiveness.
Originality/Novelty
This study offers a systematic, data-driven synthesis of the Islamic banking–sustainable development research domain by integrating bibliometric indicators with keyword co-occurrence clustering and multi-layer visualization, enabling clearer identification of thematic concentration, emerging priorities, and underexplored research frontiers.

Keywords

bibliometric analysis Islamic banking Islamic finance keyword co-occurrence Scopus sustainable development VOSviewer

Article Details

License

Copyright (c) 2025 Anom Garbo, Shofia Mauizotun Hasanah

Creative Commons License

This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.

Authors who publish with this journal agree to the following terms:

  1. Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under a Creative Commons Attribution License that allows others to share the work with an acknowledgement of the work's authorship and initial publication in this journal.
  2. Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the journal's published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgement of its initial publication in this journal.
  3. Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work (See The Effect of Open Access).
How to Cite
Garbo, A., & Hasanah, S. M. . (2025). Mapping Islamic banking and sustainable development research: A Scopus-based bibliometric and VOSviewer keyword co-occurrence cluster analysis (2008–2024). Journal of Islamic Economics Lariba, 11(2), 1889–1928. https://doi.org/10.20885/jielariba.vol11.iss2.art24
Download Citation
Endnote/Zotero/Mendeley (RIS)
BibTeX
Crossref
Scopus
Google Scholar
Europe PMC

References

  1. Abdullah Thaidi, H. A., Ab Rahman, M. F., & Salleh, A. Z. (2023). Addressing challenges, unleashing potentials: Towards achieving impactful Islamic social finance. Ulum Islamiyyah, 35(2), 63–85. https://doi.org/10.33102/uij.vol35no02.554

    DOI: https://doi.org/10.33102/uij.vol35no02.554

  2. Abdullah Thaidi, H. A., El-Alami, D., Ab Rahman, M. F., & Jailani, M. R. (2024). Zakat-based microfinancing: Insights from the Melaka Islamic Religious Council (MAIM). Journal of Fatwa Management and Research, 29(3), 199–218. https://doi.org/10.33102/jfatwa.vol30no1.659

    DOI: https://doi.org/10.33102/jfatwa.vol30no1.659

  3. Abedeen, Z. A., & Salman, S. A. (2024). Factors affecting Islamic banking sustainability: An empirical analysis. In S. A. Salman & A. Bhaumik (Eds.), New practices for entrepreneurship innovation (pp. 137–156). IGI Global Scientific Publishing. https://doi.org/10.4018/979-8-3693-5426-1.ch007

    DOI: https://doi.org/10.4018/979-8-3693-5426-1.ch007

  4. Ahmad, R. A., Mafaza, S. A., & Handayani, R. (2021). Integrated cash waqf and Islamic microfinance to poverty alleviate. El Barka: Journal of Islamic Economics and Business, 4(1), 61–80. https://doi.org/10.21154/elbarka.v4i1.3018

    DOI: https://doi.org/10.21154/elbarka.v4i1.3018

  5. Aisyah, S., Ismail, N., Sulaiman, I. F., Cahyo, E. N., & Sup, D. F. A. (2022). Rethinking the paradigm of Islamic banking: Integrated of commercial and social oriented. Al-Iktisab: Journal of Islamic Economic Law, 6(2), 147–168. https://doi.org/10.21111/al-iktisab.v6i2.8844

    DOI: https://doi.org/10.21111/al-iktisab.v6i2.8844

  6. Akhter, A., Javed, M. Y., & Akhter, J. (2025). Research trends in the field of Islamic social finance: A bibliometric analysis from 1914 to 2022. International Journal of Ethics and Systems, 41(2), 455–483. https://doi.org/10.1108/IJOES-03-2023-0044

    DOI: https://doi.org/10.1108/IJOES-03-2023-0044

  7. Al Azizah, U. S., & Haron, R. (2024). Exploring the correlation between ESG performance and firm value in Indonesia Shariah-compliant companies. Journal of Management and Muamalah, 14(2), 142–160. https://doi.org/10.53840/jmm.v14i2.193

    DOI: https://doi.org/10.53840/jmm.v14i2.193

  8. Alam, A., Tri Ratnasari, R., Jannah, I. L., & El Ashfahany, A. (2023). Development and evaluation of Islamic green financing: A systematic review of green sukuk. Environmental Economics, 14(1), 61–72. https://doi.org/10.21511/ee.14(1).2023.06

    DOI: https://doi.org/10.21511/ee.14(1).2023.06

  9. Alfianto, D., Nugrahanti, T. P., & Ugli, M. T. N. (2024). The contribution of Islamic banks in supporting green economy initiatives and sustainable financial growth. Green Economics: International Journal of Islamic and Economic Education, 1(1), 11–21. https://doi.org/10.70062/greeneconomics.v1i1.409

    DOI: https://doi.org/10.70062/greeneconomics.v1i1.409

  10. Alhammadi, S. (2022). Analyzing the role of Islamic finance in Kuwait regarding sustainable economic development in COVID-19 era. Sustainability, 14(2), 701. https://doi.org/10.3390/su14020701

    DOI: https://doi.org/10.3390/su14020701

  11. Al-Mubarak, T. (2016). The maqasid of zakah and awqaf and their roles in inclusive finance. ICR Journal, 7(2), 217–230. https://doi.org/10.52282/icr.v7i2.264

    DOI: https://doi.org/10.52282/icr.v7i2.264

  12. Altameemi, A. F., & Al-Slehat, Z. A. F. (2022). Islamic investment financing and commercial banks facilities: Mediation effect of the Islamic bank size. International Journal of Professional Business Review, 7(4), e0458. https://doi.org/10.26668/businessreview/2022.v7i4.e458

    DOI: https://doi.org/10.26668/businessreview/2022.v7i4.e458

  13. Andriansyah, Y., Sugeng, A., & Iqbal, M. (2017). Environmental activities in Indonesian Islamic commercial banks’ corporate social responsibility. In Managing Service, Education and Knowledge Management in the Knowledge Economic Era (pp. 199–205). CRC Press. https://www.taylorfrancis.com/chapters/edit/10.1201/9781315269146-38/environmental-activities-indonesian-islamic-commercial-banks-corporate-social-responsibility-yuli-andriansyah-anggoro-sugeng-muhammad-iqbal

    DOI: https://doi.org/10.1201/9781315269146-38

  14. Ascarya, A., & Sakti, A. (2022). Designing micro-fintech models for Islamic micro financial institutions in Indonesia. International Journal of Islamic and Middle Eastern Finance and Management, 15(2), 236–254. https://doi.org/10.1108/IMEFM-05-2020-0233

    DOI: https://doi.org/10.1108/IMEFM-05-2020-0233

  15. Ascarya, A., Sukmana, R., Rahmawati, S., & Masrifah, A. R. (2023). Developing cash waqf models for Baitul Maal wat Tamwil as integrated Islamic social and commercial microfinance. Journal of Islamic Accounting and Business Research, 14(5), 699–717. https://doi.org/10.1108/JIABR-09-2020-0267

    DOI: https://doi.org/10.1108/JIABR-09-2020-0267

  16. Awdalkrem, A. (2025). Zakat-waqf-microfinance integration and financial inclusion in Sudan: Theoretical framework, models, and policy implications. Akdeniz Havzası ve Afrika Medeniyetleri Dergisi, 7(2), 60–74. https://doi.org/10.54132/akaf.1802950

    DOI: https://doi.org/10.54132/akaf.1802950

  17. Ayub, M., Hassan, M. K., & Saba, I. (2024). Revisiting the paradigm of Sharīʿah governance of Islamic financial institutions. Journal of Islamic Accounting and Business Research, 15(8), 1245–1265. https://doi.org/10.1108/JIABR-04-2022-0110

    DOI: https://doi.org/10.1108/JIABR-04-2022-0110

  18. Ayub, M., Saba, I., & Kamran, S. (2023). Revisiting the conceptual and the operational frameworks for Sharı̄’ah governance of the Islamic banks. World Scientific Annual Review of Islamic Finance, 1, 107–126. https://doi.org/10.1142/S2811023423500053

    DOI: https://doi.org/10.1142/S2811023423500053

  19. Aziz, M. F., & Haron, R. (2021). Corporate social responsibility disclosure and financial performance of Shariah PLCS in Malaysia. International Journal of Academic Research in Business and Social Sciences, 11(6), 333–353. https://doi.org/10.6007/IJARBSS/v11-i6/10155

    DOI: https://doi.org/10.6007/IJARBSS/v11-i6/10155

  20. Baloch, B. A., & Chimenya, A. (2023). Ethical dimensions of Islamic finance and their relevance in contemporary business practices. International Journal of Islamic Banking and Finance Research, 11(2), 32–39. https://doi.org/10.46281/ijibfr.v11i2.2125

    DOI: https://doi.org/10.46281/ijibfr.v11i2.2125

  21. Banna, H., Hassan, M. K., Ahmad, R., & Alam, M. R. (2022). Islamic banking stability amidst the COVID-19 pandemic: The role of digital financial inclusion. International Journal of Islamic and Middle Eastern Finance and Management, 15(2), 310–330. https://doi.org/10.1108/IMEFM-08-2020-0389

    DOI: https://doi.org/10.1108/IMEFM-08-2020-0389

  22. Birjaman, M. I., Ismail, N., & Mahfudz, S. (2024). The Islamic social finance in poverty alleviation: R Bibilioshiny method approach. AL-IKTISAB: Journal of Islamic Economic Law, 7(2), 191–210. https://doi.org/10.21111/aliktisab.v7i2.11627

    DOI: https://doi.org/10.21111/aliktisab.v7i2.11627

  23. Bridoux, F., & Stoelhorst, J. W. (2016). Stakeholder relationships and social welfare: A behavioral theory of contributions to joint value creation. Academy of Management Review, 41(2), 229–251. https://doi.org/10.5465/amr.2013.0475

    DOI: https://doi.org/10.5465/amr.2013.0475

  24. Crișan-Mitra, C. S., Stanca, L., & Dabija, D.-C. (2020). Corporate social performance: An assessment model on an emerging market. Sustainability, 12(10), 4077. https://doi.org/10.3390/su12104077

    DOI: https://doi.org/10.3390/su12104077

  25. Danlami, M. R., Abduh, M., & Abdul Razak, L. (2023). Social finance, institutional quality and stability of Islamic banks: Evidence from four countries. International Journal of Social Economics, 50(8), 1186–1216. https://doi.org/10.1108/IJSE-06-2022-0441

    DOI: https://doi.org/10.1108/IJSE-06-2022-0441

  26. Dewi, S., Yaswirman, Febriamansyah, R., & Henmaidi. (2024). The role of Islamic banking in achieving sustainable development goals (SDGs) in West Sumatera. Journal of Ecohumanism, 3(4), 3489–3502. https://doi.org/10.62754/joe.v3i4.3866

    DOI: https://doi.org/10.62754/joe.v3i4.3866

  27. Dirie, K. A., Alam, Md. M., & Maamor, S. (2024). Islamic social finance for achieving sustainable development goals: A systematic literature review and future research agenda. International Journal of Ethics and Systems, 40(4), 676–698. https://doi.org/10.1108/IJOES-12-2022-0317

    DOI: https://doi.org/10.1108/IJOES-12-2022-0317

  28. Durre, M. R., & Kulmie, D. A. (2025). Sustainability practices in Islamic banking institutions in Africa: A systematic literature review. Multidisciplinary Reviews, 8(11), 2026216. https://doi.org/10.31893/multirev.2025368

    DOI: https://doi.org/10.31893/multirev.2025368

  29. Fahmi, R. A. (2025). Islamic social finance and environmental sustainability: A critical review of policy and practice. Iqtishodiah: Jurnal Ekonomi Dan Perbankan Syariah, 7(1), 64–77. https://doi.org/10.62490/iqtishodiah.v7i1.1103

    DOI: https://doi.org/10.62490/iqtishodiah.v7i1.1103

  30. Faizi, F., Kusuma, A. S., & Widodo, P. (2024). Islamic green finance: Mapping the climate funding landscape in Indonesia. International Journal of Ethics and Systems, 40(4), 711–733. https://doi.org/10.1108/IJOES-08-2023-0189

    DOI: https://doi.org/10.1108/IJOES-08-2023-0189

  31. Fajri, M. Z. N., Rofiqo, A., Rizqon, A. L., & Hasan, R. (2023). The impact of MSMEs financing in Islamic bank on unemployment in Indonesia. Jurnal Ekonomi Syariah Teori Dan Terapan, 10(5), 443–454. https://doi.org/10.20473/vol10iss20235pp443-454

    DOI: https://doi.org/10.20473/vol10iss20235pp443-454

  32. Franzoni, S., & Allali, A. A. (2018). Principles of Islamic finance and principles of corporate social responsibility: What convergence? Sustainability, 10(3), 637. https://doi.org/10.3390/su10030637

    DOI: https://doi.org/10.3390/su10030637

  33. Freudenreich, B., Lüdeke-Freund, F., & Schaltegger, S. (2020). A stakeholder theory perspective on business models: Value creation for sustainability. Journal of Business Ethics, 166(1), 3–18. https://doi.org/10.1007/s10551-019-04112-z

  34. Ghoniyah, N., & Hartono, S. (2020). How Islamic and conventional bank in Indonesia contributing sustainable development goals achievement. Cogent Economics & Finance, 8(1), 1856458. https://doi.org/10.1080/23322039.2020.1856458

    DOI: https://doi.org/10.1080/23322039.2020.1856458

  35. Güney, N. (2024). Maqāsid al-Sharī‘a in Islamic finance: A critical analysis of modern discourses. Religions, 15(1), 114. https://doi.org/10.3390/rel15010114

    DOI: https://doi.org/10.3390/rel15010114

  36. Habib, F. (2023). Islamic finance and sustainability: The need to reframe notions of Shariah compliance, purpose, and value. In Z. H. Jumat, S. Hafiz Khateeb, & S. Nazim Ali (Eds.), Islamic finance, FinTech, and the road to sustainability (pp. 15–40). Springer International Publishing. https://doi.org/10.1007/978-3-031-13302-2_2

    DOI: https://doi.org/10.1007/978-3-031-13302-2_2

  37. Hamad, A. U., & Adeyemi, A. A. (2021). Effect of Islamic social finance exclusion on sustainable livelihood assets acquisition and persistent poverty in Zanzibar. AZKA International Journal of Zakat & Social Finance, 2, 19–39. https://doi.org/10.51377/azjaf.vol2no2.58

    DOI: https://doi.org/10.51377/azjaf.vol2no2.58

  38. Harahap, B., Risfandy, T., & Futri, I. N. (2023). Islamic law, Islamic finance, and sustainable development goals: A systematic literature review. Sustainability, 15(8), 6626. https://doi.org/10.3390/su15086626

    DOI: https://doi.org/10.3390/su15086626

  39. Harahap, S. (2024). The role of Islamic finance in promoting sustainable economic development: A global perspective. Global International Journal of Innovative Research, 2(11), 2758–2772. https://doi.org/10.59613/global.v2i11.375

    DOI: https://doi.org/10.59613/global.v2i11.375

  40. Harun, M. S., Hussainey, K., Mohd Kharuddin, K. A., & Farooque, O. A. (2020). CSR disclosure, corporate governance and firm value: A study on GCC Islamic banks. International Journal of Accounting & Information Management, 28(4), 607–638. https://doi.org/10.1108/IJAIM-08-2019-0103

    DOI: https://doi.org/10.1108/IJAIM-08-2019-0103

  41. Hasibuan, A. R., & Achiria, S. (2024). Implementation of CWLS SW001 as a productive waqf from the perspective of Maqashid Shariah. Unisia, 42(2), Article 22. https://doi.org/10.20885/unisia.vol42.iss2.art22

    DOI: https://doi.org/10.20885/unisia.vol42.iss2.art22

  42. Hughes, A., Urban, M. A., & Wójcik, D. (2021). Alternative ESG ratings: How technological innovation is reshaping sustainable investment. Sustainability, 13(6), 3551. https://doi.org/10.3390/su13063551

    DOI: https://doi.org/10.3390/su13063551

  43. Ibrahim, A. (2024). Indonesian horizons in Islamic finance: Navigating risk, innovation, and social impact. Share: Jurnal Ekonomi Dan Keuangan Islam, 13(1), vi–xi. https://doi.org/10.22373/share.v13i1.24266

    DOI: https://doi.org/10.22373/share.v13i1.24266

  44. Ibrahim, A. A., & Alenezi, A. (2024). Leveraging qardh al-hasan within Islamic finance: A conceptual framework for advancing sustainable development among early-stage enterprises. Tazkia Islamic Finance and Business Review, 18(1), 18–54. https://doi.org/10.30993/tifbr.v18i1.368

    DOI: https://doi.org/10.30993/tifbr.v18i1.368

  45. Ibrahim, A.-J., Shirazi, N. S., & Mohseni-Cheraghlou, A. (2021). The impact of Islamic financial development on energy intensity: Evidence from Islamic banks. Journal of Islamic Monetary Economics and Finance, 7(4), 709–732. https://doi.org/10.21098/jimf.v7i4.1409

    DOI: https://doi.org/10.21098/jimf.v7i4.1409

  46. Ibrahim, B., & Kollin, M. (2024). Analysis of the role of Islamic philanthropy in urban poverty alleviation. Seriat Ekonomisi, 1(3), 71–79. https://doi.org/10.35335/sd0ef186

    DOI: https://doi.org/10.35335/sd0ef186

  47. Ibrahim, S. M., & Muhammad, T. (2023). The role of Islamic microfinance banks in promoting the social welfare: A case study of Yobe Microfinance Bank. Innovare Journal of Social Sciences, 14–19. https://doi.org/10.22159/ijss.2023.v11i5.48638

    DOI: https://doi.org/10.22159/ijss.2023.v11i5.48638

  48. Jaafar, A. Z., & Brightman, M. (2022). From structure to purpose: Green and social narratives, and the shifting morality of Islamic finance in Kuala Lumpur. Sustainability, 14(9), 5433. https://doi.org/10.3390/su14095433

    DOI: https://doi.org/10.3390/su14095433

  49. Jaenudin, M., & Hamdan, A. (2022). Penilaian dampak zakat, infak, sedekah terhadap kemiskinan spiritual dan material penerima manfaat Laznas LMI: Pendekatan CIBEST [Assessment of the impact of zakat, infaq, and sadaqah on the spiritual and material poverty of beneficiaries of Laznas LMI: The CIBEST Approach]. Jurnal Ekonomi Syariah Teori Dan Terapan, 9(3), 362–378. https://doi.org/10.20473/vol9iss20223pp362-378

    DOI: https://doi.org/10.20473/vol9iss20223pp362-378

  50. Jan, A., Marimuthu, M., Hassan, R., & Mehreen. (2019). Sustainable business practices and firm’s financial performance in Islamic banking: Under the moderating role of Islamic corporate governance. Sustainability, 11(23), 6606. https://doi.org/10.3390/su11236606

    DOI: https://doi.org/10.3390/su11236606

  51. Jan, A., Mata, M. N., Albinsson, P. A., Martins, J. M., Hassan, R. B., & Mata, P. N. (2021). Alignment of Islamic banking sustainability indicators with sustainable development goals: Policy recommendations for addressing the COVID-19 pandemic. Sustainability, 13(5), 2607. https://doi.org/10.3390/su13052607

    DOI: https://doi.org/10.3390/su13052607

  52. Jin, J., & Chin, T. (2024). ESG performance and the ecosystem-based business model innovation: Evidence from Chinese firms. Asia Pacific Business Review, 1–27. https://doi.org/10.1080/13602381.2024.2431284

    DOI: https://doi.org/10.1080/13602381.2024.2431284

  53. Kashi, A., Laallam, A., Mansour Nomran, N., Azmi Abumughli, A., & Al-Binali, T. (2024). Do institutional environment and corporate governance structures determine Islamic Banks’ sustainability performance? Evidence across key jurisdictions in Islamic finance industry. Borsa Istanbul Review, 24(6), 1088–1100. https://doi.org/10.1016/j.bir.2024.06.005

    DOI: https://doi.org/10.1016/j.bir.2024.06.005

  54. Kausar, N., Malik, M. S., Ali, K., & Amir, M. (2023). Corporate governance mechanisms and dividend policy: Does the shariah law work as moderator? Journal of Islamic Business and Management (JIBM), 13(1), 111–131. https://doi.org/10.26501/jibm/2023.1301-007

    DOI: https://doi.org/10.26501/jibm/2023.1301-007

  55. Khandakar, H., Hasnat, Md. A., Rahman, Md. A., Aubhi, R. U. H., Babur, A., & Hasan, K. K. (2025). Reforming Islamic financial standards for inclusive and sustainable development: A Maturidi creed perspective on behaviour, equity and justice. International Journal of Ethics and Systems. https://doi.org/10.1108/IJOES-04-2025-0186

    DOI: https://doi.org/10.1108/IJOES-04-2025-0186

  56. Kiliç, G., & Türkan, Y. (2023). The emergence of Islamic fintech and its applications. International Journal of Islamic Economics and Finance Studies, 9(3), 212–236. https://doi.org/10.54427/ijisef.1328087

    DOI: https://doi.org/10.54427/ijisef.1328087

  57. Ledhem, M. A. (2022). Does Sukuk financing boost economic growth? Empirical evidence from Southeast Asia. PSU Research Review, 6(3), 141–157. https://doi.org/10.1108/PRR-09-2020-0028

    DOI: https://doi.org/10.1108/PRR-09-2020-0028

  58. Malik, M. (2024). Islamic microfinance as a tool for financial inclusion: A comparative analysis with conventional microfinance. Journal of Accounting and Finance in Emerging Economies, 10(4), 549–562. https://doi.org/10.26710/jafee.v10i4.3215

    DOI: https://doi.org/10.26710/jafee.v10i4.3215

  59. Mergaliyev, A., Asutay, M., Avdukic, A., & Karbhari, Y. (2021). Higher ethical objective (Maqasid al-Shari’ah) augmented framework for Islamic banks: Assessing ethical performance and exploring its determinants. Journal of Business Ethics, 170(4), 797–834. https://doi.org/10.1007/s10551-019-04331-4

    DOI: https://doi.org/10.1007/s10551-019-04331-4

  60. Monira, N. A., Arup, A. D., & Rainak, M. (2024). Maqasid al-Shari’ah and corporate governance in Islamic finance: Integrating esg principles for sustainable development. International Journal of Shari’ah and Corporate Governance Research, 7(1), 1–5. https://doi.org/10.46281/ijscgr.v7i1.2773

    DOI: https://doi.org/10.46281/ijscgr.v7i1.2773

  61. Mukhid, M. (2024). Islamic social finance: Exploring zakat, waqf, and sadaqah in economic development. Economics Studies and Banking Journal (DEMAND), 1(2), 46–52. https://doi.org/10.62207/jk7p6661

    DOI: https://doi.org/10.62207/jk7p6661

  62. Naeem, A., & Ul Haq, A. (2025). Comparative analysis of Islamic and conventional economic, banking and microfinance system. Journal of Asian Development Studies, 14(2), 1244–1256. https://doi.org/10.62345/jads.2025.14.2.98

    DOI: https://doi.org/10.62345/jads.2025.14.2.98

  63. Najid, N. A., Muhamat, A. A., & Jaafar, M. N. (2024). Integration of Islamic finance with ESG sustainability efforts evidence in Malaysia. International Journal of Research and Innovation in Social Science, 8(12), 204–215. https://doi.org/10.47772/IJRISS.2024.8120016

    DOI: https://doi.org/10.47772/IJRISS.2024.8120016

  64. Napitupulu, R. M., Sukmana, R., & Rusydiana, A. S. (2024). Governance of Islamic social finance: Learnings from existing literature. International Journal of Islamic and Middle Eastern Finance and Management, 17(3), 552–571. https://doi.org/10.1108/IMEFM-06-2023-0222

    DOI: https://doi.org/10.1108/IMEFM-06-2023-0222

  65. Nasution, A. A., Harahap, D., & Uula, M. M. (2023). Environmental, social, governance (ESG) and Islamic finance: A review. Management and Sustainability, 1(1). https://doi.org/10.58968/ms.v1i1.285

    DOI: https://doi.org/10.58968/ms.v1i1.285

  66. Nufus, A., Natasya, N., Munfasiroh, M., & Sari, R. N. (2024). Strategi inovasi produk keuangan syariah untuk meningkatkan inklusi finansial [Sharia financial product innovation strategies to increase financial inclusion]. SANTRI : Jurnal Ekonomi Dan Keuangan Islam, 2(6), 104–116. https://doi.org/10.61132/santri.v2i6.1016

    DOI: https://doi.org/10.61132/santri.v2i6.1016

  67. Nuryitmawan, T. R. (2023). The impact of Islamic fintech on poverty alleviation in Indonesia: A socio-economic implications. Airlangga Journal of Innovation Management, 4(2), 136–146. https://doi.org/10.20473/ajim.v4i2.49478

    DOI: https://doi.org/10.20473/ajim.v4i2.49478

  68. Putri, M. E., & Hanif, H. (2024). The role of financial technology in promoting growth in Islamic finance in the digital era. Al Fiddhoh: Journal of Banking, Insurance, and Finance, 5(1), 35–39. https://doi.org/10.32939/fdh.v5i1.3500

    DOI: https://doi.org/10.32939/fdh.v5i1.3500

  69. Rahmatika, D., Andriansyah, Y., & Qubbaja, A. (2024). Enhancing Sharia compliance: Evaluating supervisory roles in a rural Islamic bank in Yogyakarta, Indonesia. Journal of Islamic Economics Lariba, 10(2), 1241–1264. https://doi.org/10.20885/jielariba.vol10.iss2.art29

    DOI: https://doi.org/10.20885/jielariba.vol10.iss2.art29

  70. Raimi, L., Abdur-Rauf, I. A., & Ashafa, S. A. (2024). Does Islamic sustainable finance support sustainable development goals to avert financial risk in the management of Islamic finance products? A critical literature review. Journal of Risk and Financial Management, 17(6), 236. https://doi.org/10.3390/jrfm17060236

    DOI: https://doi.org/10.3390/jrfm17060236

  71. Ramadhanty, S. A., Wijaya, L. I., & Mahadwartha, P. A. (2022). How islamic finance is resilient during the pandemic. Journal of Business and Banking, 12(1), 1–17. https://doi.org/10.14414/jbb.v12i1.2934

    DOI: https://doi.org/10.14414/jbb.v12i1.2934

  72. Razali, N., Hassan, R., & Mohd Zain, N. (2022). Exploring the regulatory framework of sustainable finance in Malaysia: Driving force for ESG institutional investors. IIUM Law Journal, 30(S2), 279–316. https://doi.org/10.31436/iiumlj.v30iS2.767

    DOI: https://doi.org/10.31436/iiumlj.v30iS2.767

  73. Riaz, M., Kazmi, S. M. A., Mirza, A., & Mehmood, A. (2022). Real sector growth owed to Islamic finance. Review of Applied Management and Social Sciences, 5(4), 573–585. https://doi.org/10.47067/ramss.v5i4.279

    DOI: https://doi.org/10.47067/ramss.v5i4.279

  74. Risyad, M. H., & Mawardi, I. (2023). Determinants of economic growth in Gulf Cooperation Council (GCC) countries. Jurnal Ekonomi Syariah Teori Dan Terapan, 10(2), 123–133. https://doi.org/10.20473/vol10iss20232pp123-133

    DOI: https://doi.org/10.20473/vol10iss20232pp123-133

  75. Rochani, A., Puspitasari, A. Y., Yuliastuti, N., & Sudarwanto, B. (2024). The concept of waqf-based communal space in supporting the independence of coastal communities (Case Study of Tugurejo Village, Semarang). IOP Conference Series: Earth and Environmental Science, 1321(1), 012056. https://doi.org/10.1088/1755-1315/1321/1/012056

    DOI: https://doi.org/10.1088/1755-1315/1321/1/012056

  76. Roy, S. (2016). A critique on current paradigms of economic ‘growth’ and ‘development’ in the context of environment and sustainability issues. Consilience, 16, 74–90. https://www.jstor.org/stable/26188775

  77. Ryszawska, B. (2018). Sustainable finance: Paradigm shift. In A. Bem, K. Daszyńska-Żygadło, T. Hajdíková, & P. Juhász (Eds.), Finance and sustainability: Proceedings from the Finance and Sustainability Conference, Wroclaw 2017 (pp. 219–231). Springer International Publishing. https://doi.org/10.1007/978-3-319-92228-7_19

  78. Samsudin, S., Fajrillah, F., Lubis, M. A., Lubis, A. T., Siregar, S., & Juliati Nasution, Y. S. (2024). Exploring Islamic social finance practices in Muslim countries outside ASEAN. Jurnal Penelitian Medan Agama, 15(2), 189–198. https://doi.org/10.58836/jpma.v15i2.23068

    DOI: https://doi.org/10.58836/jpma.v15i2.23068

  79. Sanders, R. (2016). The flawed paradigms of economics and sustainable development. International Journal of Sustainable Development, 19(2), 110. https://doi.org/10.1504/IJSD.2016.077207

    DOI: https://doi.org/10.1504/IJSD.2016.077207

  80. Shah, M. U., & Guild, P. D. (2022). Stakeholder engagement strategy of technology firms: A review and applied view of stakeholder theory. Technovation, 114, 102460. https://doi.org/10.1016/j.technovation.2022.102460

    DOI: https://doi.org/10.1016/j.technovation.2022.102460

  81. Siregar, R. (2025). ESG and Islamic accounting for sustainable Islamic finance: A qualitative study. Jurnal Ilmiah Akuntansi Kesatuan, 13(3), 555–566. https://doi.org/10.37641/jiakes.v13i3.3410

    DOI: https://doi.org/10.37641/jiakes.v13i3.3410

  82. Siswantoro, & Mahmud, A. (2023). The impact of Islamic financial development on renewable energy production in Islamic countries. Asian Journal of Islamic Management (AJIM), 5(1), 54–68. https://doi.org/10.20885/AJIM.vol5.iss1.art4

    DOI: https://doi.org/10.20885/AJIM.vol5.iss1.art4

  83. Solihati, G. P., Suhardiyanto, H., Hakim, D. B., & Irawan, T. (2023). Integrating good corporate governance, Islamic corporate social responsibility, zakat, syariah governance, and syariah compliance: Exploring their interconnected impact on the financial health of Islamic commercial banks. Journal of Contemporary Administration and Management (ADMAN), 1(3), 271–277. https://doi.org/10.61100/adman.v1i3.94

    DOI: https://doi.org/10.61100/adman.v1i3.94

  84. Suryani, Y., Siregar, S., & Nurlaila, N. (2024). Shariah governance, leverage, and their impact on Islamic corporate social responsibility in Sharia banking in Indonesia. International Journal Ihya’ ’Ulum al-Din, 26(1), 143–155. https://doi.org/10.21580/ihya.26.1.20482

    DOI: https://doi.org/10.21580/ihya.26.1.20482

  85. Syed Azman, S. M. M., Ismail, S., Haneef, M. A., & Engku Ali, E. R. A. (2022). An empirical comparison of sustainable and responsible investment ṣukūk , social impact bonds and conventional bonds. ISRA International Journal of Islamic Finance, 14(3), 256–273. https://doi.org/10.1108/IJIF-04-2021-0074

    DOI: https://doi.org/10.1108/IJIF-04-2021-0074

  86. Syuhri, S., Asnawi, N., & Djalaluddin, A. (2025). Integrating voluntary religious contributions (nadzar) into interest-free loans (qardh): A case study of BMT Maslahah, East Java, Indonesia. Journal of Islamic Economics Lariba, 11(1), 77–102. https://doi.org/10.20885/jielariba.vol11.iss1.art4

    DOI: https://doi.org/10.20885/jielariba.vol11.iss1.art4

  87. Tabash, M. I., Alam, Md. K., & Rahman, Md. M. (2020). Ethical legitimacy of Islamic banks and Shariah governance: Evidence from Bangladesh. Journal of Public Affairs, e2487. https://doi.org/10.1002/pa.2487

    DOI: https://doi.org/10.1002/pa.2487

  88. Tumanggor, D. V. (2024). Integrated Maqasid al-Shariah in cash waqf linked deposit: A study approach to sustainable. Jurnal Penelitian Ilmu Ekonomi Dan Keuangan Syariah, 2(4), 91–105. https://doi.org/10.59059/jupiekes.v2i4.1724

    DOI: https://doi.org/10.59059/jupiekes.v2i4.1724

  89. Uddin, M. N., & Ahmmed, M. (2018). Islamic banking and green banking for sustainable development: Evidence from Bangladesh. Al-Iqtishad: Jurnal Ilmu Ekonomi Syariah, 10(1), 97–114. https://doi.org/10.15408/aiq.v10i1.4563

    DOI: https://doi.org/10.15408/aiq.v10i1.4563

  90. Uddin, M. N., Hosen, M., Azad, Md. A. K., Günerhan, H., Hoque, N., Uddin, M., & Mamun, A. (2024). Guidelines for developing the shari’ah‐compliant products and shari’ah governance for sustainable banks in Bangladesh. Business Strategy & Development, 7(1), e309. https://doi.org/10.1002/bsd2.309

    DOI: https://doi.org/10.1002/bsd2.309

  91. Ullah, S., Haroon, M., Hussain, S., & Rehman, A. U. (2023). Islamic labelling and corporate governance: A perspective of Shariah compliance firms. Journal of Islamic Accounting and Business Research, 14(6), 849–867. https://doi.org/10.1108/JIABR-03-2021-0108

    DOI: https://doi.org/10.1108/JIABR-03-2021-0108

  92. Umar, U. H., Baita, A. J., Haron, M. H. B., & Kabiru, S. H. (2022). The potential of Islamic social finance to alleviate poverty in the era of COVID-19: The moderating effect of ethical orientation. International Journal of Islamic and Middle Eastern Finance and Management, 15(2), 255–270. https://doi.org/10.1108/IMEFM-07-2020-0371

    DOI: https://doi.org/10.1108/IMEFM-07-2020-0371

  93. Ur Rehman, Z., Zahid, M., Rahman, H. U., Asif, M., Alharthi, M., Irfan, M., & Glowacz, A. (2020). Do corporate social responsibility disclosures improve financial performance? A perspective of the Islamic banking industry in Pakistan. Sustainability, 12(8), 3302. https://doi.org/10.3390/su12083302

    DOI: https://doi.org/10.3390/su12083302

  94. Utomo, B., Sudarmanto, E., & Muhammadong, M. (2024). The growth of green and sustainable finance in Islamic banking: A bibliometric approach. Sciences Du Nord Economics and Business, 1(2), 47–55. https://doi.org/10.58812/sneb.v1i2.29

    DOI: https://doi.org/10.58812/sneb.v1i2.29

  95. Wiwoho, J., Trinugroho, I., Kharisma, D. B., & Suwadi, P. (2024). Islamic crypto assets and regulatory framework: Evidence from Indonesia and global approaches. International Journal of Law and Management, 66(2), 155–171. https://doi.org/10.1108/IJLMA-03-2023-0051

    DOI: https://doi.org/10.1108/IJLMA-03-2023-0051

  96. Yaya, R., Saud, I. M., Hassan, M. K., & Rashid, M. (2021). Governance of profit and loss sharing financing in achieving socio-economic justice. Journal of Islamic Accounting and Business Research, 12(6), 814–830. https://doi.org/10.1108/JIABR-11-2017-0161

    DOI: https://doi.org/10.1108/JIABR-11-2017-0161

  97. Zuhroh, I., & Malik, N. (2023). Revisiting the role of Islamic bank on SDGs: Sharia financing, inequality, and poverty. Journal of Human, Earth, and Future, 4(4), 443–452. https://doi.org/10.28991/HEF-2023-04-04-05

    DOI: https://doi.org/10.28991/HEF-2023-04-04-05

The challenges of literacy, inclusion, and public trust in the digital Islamic banking ecosystem: An urban context study in Indonesia

Hurriah Ali Hasan, Abd Rahim Razaq, Hafizah Besar Sa'aid
Abstract View : 154
Download :162
10.20885/jielariba.vol12.iss1.art7
PDF Review Reports Originality Report

Comparative financial performance of Islamic banks under diverse legal and regulatory systems in Southeast Asia

Rahmadi Rahmadi, Dea Wemona Rahma, Muhammad Indra Fata, Faris Naufal
Abstract View : 177
Download :54
10.20885/jielariba.vol11.iss2.art19
PDF Review Reports Originality Report

Reconceptualizing green sukuk through Maqashid al-Shariah for advancing sustainable development goals

Amrina Nur Izzati, Sri Setiawati Tumuyu, Yuki Mahardhito Adhitya Wardhana
Abstract View : 130
Download :87
10.20885/jielariba.vol11.iss2.art22
PDF Review Reports Originality Report

The influence of Sharia implementation, financing access, and managerial capacity on MSME performance in Medan City, Indonesia

Muhammad Zulkifli Hasibuan, Herdi Ramon, Samio Samio, Nurjannah Nurjannah, Rijal Rijal
Abstract View : 510
Download :276
10.20885/jielariba.vol12.iss1.art3
PDF Review Reports Originality Report

Unlocking idle waqf assets through institutionalized pentahelix collaboration: Evidence from North Sumatra, Indonesia

Irma Suryani Lubis, Muhammad Ramadhan, Marliyah Marliyah
Abstract View : 269
Download :336
10.20885/jielariba.vol11.iss2.art17
PDF Review Reports Originality Report