Title: Takeaways from Islamic social finance and sustainable development goals discourse: review and bibliometric analysis on future directions for Zakat, Waqf and Islamic microfinance
Authors:
- Yaxin Ma;
- Raditya Sukmana
Department: Department of Islamic Economics
Journal Name: Journal of Islamic Accounting and Business Research Kinds of Journal: Scopus Q2
Keywords: Ethical-oriented; Islamic microfinance; Islamic social finance (ISF); Sustainable Development Goals (SDGs); Waqf; Zakat
Abstract::
Purpose – This study aims to investigate the development of Islamic social finance (ISF) research in relation to Islamic business ethics and socioeconomic justice, with particular attention to its contribution to the Sustainable Development Goals (SDGs). Design/methodology/approach – This study examines 102 ISF-related publications between 2019 and 2024 via bibliometric and content analysis. It identifies research trends, dominant methodologies, SDG alignment and future research directions across key instruments such as Zakat, Waqf and Islamic microfinance. Findings – The analysis reveals that 97% of the literature contributes to SDG-related themes, with a strong emphasis on financial benefits while neglecting environmental objectives. Empirical studies dominate (71%), often using mixed- methods, and research is geographically concentrated in Indonesia and Malaysia. These patterns indicate a need to expand normative research, particularly in policy and governance, and encourage greater global diversity. Originality/value – This study highlights an overlooked dimension in ISF research: the integration of ecological sustainability with socioeconomic development. While Zakat, Waqf and Islamic microfinance have demonstrated developmental value, their environmental relevance remains underexplored. This study calls for a balanced research agenda that incorporates Shari’ah-based environmental ethics. It also advocates expanding research beyond Indonesia and Malaysia to include non-Muslim regions, women and underserved groups, enhancing ISF’s global impact and inclusivity. Methodologically, it identifies the dominance of empirical studies and proposes greater use of policy-oriented, mixed-methods approaches to better support ISF’s role in achieving the SDGs.
For details: https://doi.org/10.1108/JIABR-06-2024-0227