KnE Social Sciences
ISSN: 2518-668X
The latest conference proceedings on humanities, arts and social sciences.
Relationship between Islamic Social Finance and Sustainable Development Goals: A Conceptual Framework
Published date: Oct 30 2023
Journal Title: KnE Social Sciences
Issue title: 5th Social and Humaniora Research Symposium (5th SoRes)
Pages: 197
Authors:
Abstract:
The success of a country’s economic development can be assessed by the extent to which the Sustainable Development Goals (SDGs) are achieved. However, many developing countries face challenges in attaining the SDGs, often due to budget constraints. To overcome these obstacles, the presence of Islamic social finance, also known as ZISWAF (Zakat, Infaq, Sadaqat, and Waqf), is expected to play a significant role. Islamic social finance aims to address social and economic issues such as poverty and income inequality. This study aims to analyze the role of Islamic social finance (ISF) in the context of the SDGs. As Islamic social finance adheres to principles that align with the SDGs, it is essential to investigate whether ISF can support the achievement of the SDGs through its funding activities. The role of Islamic social finance in relation to the SDGs can be observed by examining the programs funded by ISF and assessing their alignment with the SDGs. The analytical approach employed in this study is descriptive and qualitative, aiming to explain the role of Islamic social finance in the SDGs. The analysis draws insights from relevant literature and data, and a conceptual framework is formulated to illustrate the relationship between Islamic social finance and the SDGs. The findings highlight the important role of Islamic social finance, including zakat, in contributing to the achievement of the SDGs. Through several case studies in various countries, Islamic social finance has demonstrated its potential to support the attainment of SDGs 1, 2, 3, 4, 8, 9, 11, and 12. These results emphasize the significant contribution of Islamic social finance in the success of SDGs programs, underscoring its potential as a tool for achieving the SDGs.
Keywords: Islamic social finance, SDGs, relationship
References:
[1] Sulistiani SL, Yunus M, Bayuni EM. “Micro Waqf Bank: New Sharia financial instruments in Indonesia.” 2nd Social and Humaniora Research Symposium (SoRes 2019),.2020:1–4.
[2] Normasyhuri K. Budimansyah, and E. Rohadi. “Strategy for management of Zakat, Infaq and Alms (ZIS) for the economic empowerment of the people in achieving sustainable development goals (SDGs).” Jurnal Ilmiah Ekonomi Islam. 2022;8(2):1947–1962.
[3] Tok E, Yesuf AJ, Mohamed A. Sustainable development goals and Islamic social finance : From policy divide to policy coherence and convergence. Sustainability (Basel). 2022;14(6875):1–23.
[4] Apriliyah RP, Arifianto B. Evaluation of zakat literature: A bibliometric analysis and systematic literature review. Review of Islamic Social Finance and Entrepreneurship. 2022:50–62.
[5] Juhro SM, Syarifuddin F, Sakti A, Suryanti ET. Keuangan Publik dan Sosial Islam: Teori dan Praktik (Islamic Public and Social Finance: Theory and Practice). 1st ed. Depok: Rajawali Pers; 2019.
[6] Widiastuti T, Prasetyo A, Robani A, Mawardi I, Rosida R, Al Mustofa MU. Toward developing a sustainability index for the Islamic Social Finance program: an empirical investigation. PLoS One. 2022 Nov;17(11):e0276876.
[7] Khatib S. Konsep Maqashid Al-Syari’ah: Perbandingan Antara Pemikiran Al-Ghazali dan Al-Syathibi (The Concept of Maqashid Al-Shari’ah: Comparison between Al- Ghazali and Al-Syathibi’s Thoughts). Mizani. 2018;5(1):47–62.
[8] Gustani, Yulinar M. Pencapaian Zakat Terhadap SDGs Di Tiga Desa Di Kabupaten Majalengka: Implementasi Indeks BI-WAS (Achieving Zakat on SDGs in Three Villages in Majalengka Regency: BI-WAS Index Implementation). Jurnal Ilmiah Ekonomi Islam. 2021;6(2).
[9] MUIS. “MUIS Annual Report 2021.” 2021.
