مقالةوصول ذهبي2026
Islamic Finance and Sustainable Economic Development: Exploring the Role of Shariah-Compliant Financial Systems in Promoting Inclusive Growth
Muhammad Safuan Md Ali; Sarah Abro; Awais Ahmed Awan; Saeed Ahmed
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Muhammad Safuan Md Ali; Sarah Abro; Awais Ahmed Awan; Saeed Ahmed
Sarah Abro
Shaheed Zulfiqar Ali Bhutto Institute of Science and Technology
Saeed Ahmed
University of Sindh
Muhammad Safuan Md Ali
Islamic Development Bank
Awais Ahmed Awan
IDBI Bank
Islamic finance emerged as a rapidly growing ethical financial system that supported sustainable economic development and inclusive growth through Shariah-compliant principles. This study examined the role of Islamic finance in promoting financial inclusion, economic stability, and sustainable development outcomes. A quantitative descriptive design was applied, and primary data was collected from a sample of 300 respondents working in Islamic banking and financial institutions. The findings showed high mean values for Islamic finance practices (4.18 ± 0.62), sustainable economic development (4.12 ± 0.65), inclusive economic growth (4.05 ± 0.68), financial inclusion (4.20 ± 0.60), and ethical investment practices (4.10 ± 0.66). The results indicated that Islamic finance significantly contributed to SME development (4.22 ± 0.61), poverty reduction (4.14 ± 0.63), infrastructure financing (4.16 ± 0.64), and alignment with Sustainable Development Goals (4.23 ± 0.58). The study also found strong perceptions regarding economic stability (4.19 ± 0.60) and social welfare enhancement (4.21 ± 0.59), highlighting the broader developmental impact of Islamic financial systems. Islamic finance demonstrated a strong role in promoting equitable income distribution, financial access, and sustainable investment practices. The study concluded that Shariah-compliant financial systems functioned as a viable framework for achieving inclusive and sustainable economic development, particularly in emerging economies where financial exclusion remained a key challenge. References Adzimatinur, F., & Gloriman Manalu, V. (2021). The effect of Islamic financial inclusion on economic growth: a case study of Islamic banking in Indonesia. Budapest International Research and Critics Institute-Journal (BIRCI-Journal). Ben Jedidia, K., & Ghroubi, M. (2024). Islamic finance and SDGs: Bibliometric review and future research agenda. Journal of Chinese Economic and Business Studies, 23(3), 329–362. https://doi.org/10.1080/14765284.2024.2445959 Budiharjo, A., Ismail, N. A., & Rahim, H. (2024). Convergence of Islamic finance and sustainable finance principles. International Journal of Islamic Economics and Finance Research, 7(2), 19–30. https://doi.org/10.53840/ijiefer177 Farah, A. A., Mohamed, M. A., Ali Farah, M., Yusuf, I. A., & Abdulle, M. S. (2025). Impact of Islamic banking on economic growth: a systematic review of SCOPUS-indexed studies (2009–2024). Cogent Economics & Finance, 13(1), 2490819. Franciosi, L. M. (2025). Islamic finance and sustainable development: Key ethical features and proactive initiatives promoting financial inclusion. European Journal of Islamic Finance, 12(2), 30–47. https://doi.org/10.13135/2421-2172/11175 Garbo, A., & Hasanah, S. M. (2025). Mapping Islamic banking and sustainable development research: A Scopus-based bibliometric and VOSviewer keyword co-occurrence cluster analysis (2008–2024). Journal of Islamic Economics Lariba, 11(2). Harun, H. F., & Rahmat, N. (2024). Islamic finance for sustainable development: A mixed-methods systematic review and bibliometric analysis of SDG alignment. International Journal of Sustainable Development and Planning, 20(1), 99–107. https://doi.org/10.18280/ijsdp.200111 Ingkap, H., & Masuwd, M. (2025). The Role of Islamic Economics in Promoting Inclusive and Sustainable Development. AL-FALAH: Journal of Islamic Economics, 2(10), 302-319. Khandakar, H., Hasnat, M. A., Rahman, M. A., Aubhi, R. U. H., Babur, A., & Hasan, K. K. (2025). Reforming Islamic financial standards for inclusive and sustainable development: a Maturidi creed perspective on behaviour, equity and justice. International Journal of Ethics and Systems. Mansour, N., & Bujosa Vadell, L. M. (2023). Islamic sustainable finance, law and innovation. Springer. https://doi.org/10.1007/978-3-031-27860-0 Mohamed, Z., & Redzuan, N. H. (2025). Financial inclusion and Islamic banks: Bibliometric analysis. Journal of Islamic Finance, 14(1), 14-27. Naseem, T., Hasan, H., & Ejaz, N. (2025). The impact of Islamic finance on inclusive growth in Pakistan. Journal of Islamic Business and Management, 15(2), 138–174. https://doi.org/10.26501/jibm/2025.1502-003 Rafiq-uz-Zaman, M. (2022a). Redesign for 21st-century skills: Preparing learners for a rapidly changing workforce. Journal of Business Insight and Innovation, 1(2), 89–102. Retrieved from https://insightfuljournals.com/index.php/JBII/article/view/58 Rafiq-uz-Zaman, M. (2022b). Strategic upskilling: Fusing technical expertise with human capabilities. Journal of Business Insight and Innovation, 1(1), 76–86. https://doi.org/10.5281/zenodo.17766381 Rafiq-uz-Zaman, M. (2024). Leveraging skill development and STEAM innovation for business growth: A strategic framework for enhancing workforce performance in emerging markets. Journal of Business Insight and Innovation, 3(1), 48–63. Retrieved from https://insightfuljournals.com/index.php/JBII/arti