Developing an integrated model of Islamic social finance: toward an effective governance framework

Title : Developing an integrated model of Islamic social finance: toward an effective governance framework

Authors :
1. Tika Widiastuti
2. Sri Ningsih
3. Ari Prasetyo
4. Imron Mawardi
5. Sri Herianingrum
6. Anidah Robani
7. Muhammad Ubaidillah Al Mustofa
8. Aufar Fadlul Hady

Department :Islamic Economics

Journal Name : Heliyon

Types of Journal : Q1

Keywords : Islamic social finance, Integration, Transformation, Effective governance, Well being

ABSTRACT

This study proposed an integrated model of Islamic Social Finance (ISF) to accelerate the transformation of the poor toward prosperity. This is a qualitative and quantitative approach using grounded theory and the Average Weighted Index (AWI). The integration model of Islamic social finance is implemented through 4 ER (Economic Rescue, Economic Recovery, Economic Reinforcement, and Economic Resilience) by integrating Islamic social finance instruments in a joint project scheme. The additional findings of the empirical investigation show that integrated Islamic social finance is 12% more effective in enriching the poor than the non-integrated program. This study emphasizes the significance of integrating Islamic social finance in accelerating the well-being of the poor community.

For details : https://www.sciencedirect.com/science/article/pii/S2405844022016711