Maqasid Al-Shariah and Green Finance: A Theoretical Framework on Islamic Finance with Sustainable Development Goals for a Greener Future

The study investigates incorporating Islamic financial concepts with green finance to advance sustainable development. Maqasid al-Shariah, the guiding principle of Islamic finance, prioritizes ethical investing, social welfare, and asset preservation through Shariah-compliant instruments, including sukuk, zakat, and waqf. These instruments can be utilized to fund projects that promote both environmental sustainability and social responsibility. This integration fulfills Sustainable Development Goals (SDGs), specifically in clean energy, sustainable cities, climate action, and responsible consumption. The integrated approach guarantees a sustainable global financial landscape by promoting long-term economic stability, environmental protection, and social welfare. It encompasses a comprehensive framework for achieving sustainability. This study provides a theoretical model to emphasize the immense potential of Islamic finance in substantially contributing to the broader, more comprehensive green finance agenda.

Authors

Institutions

Publication Details

Published
2024-11-27
DOI
https://doi.org/10.1109/sibf63788.2024.10883847
Primary Topic
Islamic Finance and Banking Studies
Type
article
Field-Weighted Citation Impact
0.00

Funders

Controls
|||
ALL TIME
JAN
FEB
MAR
APR
MAY
JUN
JUL
AUG
SEP
OCT
article

Maqasid Al-Shariah and Green Finance: A Theoretical Framework on Islamic Finance with Sustainable Development Goals for a Greener Future

Rakhshan Rahim, Mustafa Raza Rabbani, Hem Shweta Rathore, Mohammad Noor Alam
Islamic Finance and Banking Studies
article

Maqasid Al-Shariah and Green Finance: A Theoretical Framework on Islamic Finance with Sustainable Development Goals for a Greener Future

Rakhshan Rahim, Mustafa Raza Rabbani, Hem Shweta Rathore, Mohammad Noor Alam
article en

Abstract

The study investigates incorporating Islamic financial concepts with green finance to advance sustainable development. Maqasid al-Shariah, the guiding principle of Islamic finance, prioritizes ethical investing, social welfare, and asset preservation through Shariah-compliant instruments, including sukuk, zakat, and waqf. These instruments can be utilized to fund projects that promote both environmental sustainability and social responsibility. This integration fulfills Sustainable Development Goals (SDGs), specifically in clean energy, sustainable cities, climate action, and responsible consumption. The integrated approach guarantees a sustainable global financial landscape by promoting long-term economic stability, environmental protection, and social welfare. It encompasses a comprehensive framework for achieving sustainability. This study provides a theoretical model to emphasize the immense potential of Islamic finance in substantially contributing to the broader, more comprehensive green finance agenda.

University of Bahrain (BH), University of Sharjah (AE), Amity University (AE), University of Business and Technology (SA), College of Business Administration (LV)
University of Bahrain
Openalex Percentile: Top 55%
Islamic Finance and Banking Studies
AI Navigator

Ask Laika to Summarize, Analyze, and Connect papers live on the map.

Summarize Papers & Methodologies

Extract key findings, datasets, and comparative methods across publications.

Benchmark Rankings & Visual Analytics

Rank top research institutions, authors, funders, topics, and journals by Field-Weighted Citation Impact (FWCI) and paper volume with instant charts.

Connect Distant Disciplines

Bridge topological clusters on the map to find hidden collaborative intersections.

Maqasid Al-Shariah and Green Finance: A Theoretical Framework on Islamic Finance with Sustainable Development Goals for a Greener Future — Rakhshan Rahim, Mustafa Raza Rabbani, et al. · (2024) | TGRS Research Map | TGRS