Integration of Islamic Social and Commercial Finance: A Systematic Literature Analysis and Conceptual Framework for Sustainable Development

Rahmawatul Hasanah, Zaenafi Ariani, Nur Fitri Hidayanti, Ahmad Hulaimi, Novi Yanti Sandra Dewi, Ahadiah Agustina

Abstract


Abstract: This study aims to analyze the integration between Islamic social and commercial finance in the context of sustainable development through a library research approach with an integrative review method. This method is used to review and synthesize academic literature from various leading databases such as Google Scholar, Scispace, DOAJ, and Scopus in the range of 2015-2024. The thematic analysis shows that the integration of these two financial sectors is not only conceptually important, but also has high implementation potential in promoting financial inclusion and achieving the Sustainable Development Goals (SDGs). The study findings reveal that successful integration depends on the readiness of an inclusive conceptual framework, technology adoption, and multi-stakeholder collaboration. This research presents a new conceptual framework that combines Islamic social values with Shariah-based commercial financial mechanisms. This study makes a significant contribution to the development of more sustainable and equitable Islamic finance policies and practices. Further studies are needed to empirically test the effectiveness of this model and develop digital innovations to support such integration in the future.

Keywords


Islamic Social Finance, Islamic Commercial Finance, Integration, Sustainable Development, Integrative Review.

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References


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