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Achieving the maqasid of Islamic finance through Social Impact Bonds (SIB) and Sustainable and Responsible Investment (SRI) sukuk

Syed Azman, Syed Marwan Mujahid and Haneef, Mohamed Aslam and Engku Ali, Engku Rabiah Adawiah and Ismail, Suhaiza (2019) Achieving the maqasid of Islamic finance through Social Impact Bonds (SIB) and Sustainable and Responsible Investment (SRI) sukuk. In: Proceeding of 7th ASEAN Universities International Conference on Islamic Finance (AICIF) 2019, 3rd -4th December 2019, Indonesia. (Unpublished)

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This paper looks into the underlying principles of Social Impact Bond (SIB) and Sustainable and Responsible Investment (SRI) sukuk as compared to the values embodied within maqasid al-Shari‘ah and maslahah. Through a critical review of literature related to SIB, SRI sukuk, maqasid al-Shari'ah and maslahah, the paper attempts to delineate the elements embedded within these financial tools from an Islamic perspective. The paper explicates that SIB and SRI sukuk are financial mechanisms that epitomises the ethical and moral framework of the Shari‘ah as their underlying principles are congruent with the concepts within maqasid al-Shari'ah and maslahah. Thus, the SIB and SRI sukuk models should be given more attention by Islamic banks and Islamic financial institutions whose philosophical foundation is built upon the principles of maqasid al-Shari'ah and maslahah.

Item Type: Conference or Workshop Item (Plenary Papers)
Additional Information: 8628/83652
Uncontrolled Keywords: Social Impact Bond (SIB), Sustainable and Responsible Investment (SRI) sukuk, social finance, maqasid al-shari‘ah, maslahah
Subjects: BPH Islamic Economics > BPH437 Sukuk - Islamic Bond
H Social Sciences > HG Finance
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)
Kulliyyah of Economics and Management Sciences
Depositing User: Dr. Syed Marwan Mujahid Syed Azman
Date Deposited: 14 Oct 2020 16:25
Last Modified: 14 Oct 2020 16:27
URI: http://irep.iium.edu.my/id/eprint/83652

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