SDGs and VBI: a META analysis from Islamic finance perspective

Mohd. Zain, Nor Razinah and Engku Ali, Engku Rabiah Adawiah and Tounchibine, Oumaima and Raja Alias, Raja Madihah (2024) SDGs and VBI: a META analysis from Islamic finance perspective. In: Islamic Sustainable Finance: Policy, Risk and Regulation. Islamic Business and Finance Series . Routledge, London, pp. 41-50. ISBN 978-1-032-49784-6

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Abstract

The growing popularity and acceptability of a faith-based and morally motivated financial system is reflected in the worldwide proliferation of Islamic financial services industry. There has been significant progress in both product innovation and governance in many countries that participate in the Islamic financial services market. There is an apparent realization in Islamic banking and finance industry (IBFI) to look beyond the establishment of IBF as inspired by the United Nations’ Sustainable Development Goals (SDGs). Inherently, as a faith-based financial system, IBFI must consistently adhere to the underlying principles of Shari’ah, which are ultimately designed towards achieving the intended objectives of the Lawgiver (Allah), i.e., maqasid al-Shari’ah. This leads to the adoption of value-based intermediation (VBI) in the IBFI. While the issues of sustainable development remain relevant for IBFI’s consideration, the interconnection between SDGs and VBI needs to be established without neglecting the true nature of Shari’ah compliance in the IBFI’s practices. By adopting qualitative and legal research methodologies, this study conducts an analysis of the IBFI with a special focus on identifying the interconnection between SDGs and VBI initiatives.

Item Type:	Book Chapter
Uncontrolled Keywords:	Islamic banking and finance, Sustainable development goals, Value-based intermediation, Shariah compliance practices
Subjects:	BPH Islamic Economics BPH Islamic Economics > BPH72 Economic development. Growth. Sustainable development. Sustainability BPK Islamic law. Shari'ah. Fiqh H Social Sciences > HG Finance > HG3368 Islamic Banking and Finance
Kulliyyahs/Centres/Divisions/Institutes (Can select more than one option. Press CONTROL button):	Institute of Islamic Banking & Finance (IIiBF)
Depositing User:	Asst. Prof Nor Razinah Mohd. Zain
Date Deposited:	13 Mar 2024 12:26
Last Modified:	13 Mar 2024 13:03
URI:	http://irep.iium.edu.my/id/eprint/111276

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