Purpose The sustainable development goals (SDGs) devised by the United Nations (UN) call on countries – whether rich or poor – to solve global issues, improve lives and save the planet for future generations. However, the UN predicts that between $5 and $7tn will need to be spent annually between now and 2030 to accomplish these goals, posing a major financial hurdle. Islamic social finance, if used ethically, seeks to realise SDGs through fairness, justice and equity. Thus, this study aims to determine how Islamic social finance instruments such as Zakat, Waqf, Sadaqat and Qard-hasan contribute to realising SDGs. Design/methodology/approach This study used a preferred reporting items for systematic reviews and meta-analyses-based systematic literature review. Scopus and Google Scholar were chosen for the qualitative and meta-analysis of studies. The topic was reviewed in 178 academic papers from 2000 to 2022. The required articles were analysed after careful review. Findings Islamic social financing mechanisms have the capacity to solve many social issues and create better welfare conditions by ensuring economic, social and environmental sustainability in line with the SDGs. Indonesia and Malaysia lead Islamic social finance research, the survey found. The review revealed that Islamic social funding can achieve 11 out of 17 SDGs. Islamic commercial finance can be used for the remaining goals. The paper highlights Islamic social funding research limitations and opportunities. Research limitations/implications The review study shows that Islamic social finance can fill the SDG funding gap, especially considering the post-pandemic financial crisis that has increased global income inequality and social disparities. Originality/value To the best of the authors’ knowledge, this article is the first of its kind to review the potential of Islamic social financing instruments to help achieve the SDGs.
To operate successfully in this credit card industry, various kinds of credit cards are offered to distinct user groups. This empirical study is conducted in Malaysia, and it examines the features of different types of credit card available. By using descriptive and one-way ANOVA test, this study analyses data of 234 credit cards which were collected from ringgitplus.com and imoney.my websites. The cards are categorised based on the usage purpose like airline tickets, insurance, dining, entertainment, fuel, lifestyle, groceries, shopping, utilities healthcare and general use. In total thirteen features are analysed for all of these cards. The findings show there is no significant difference in the purpose of cards based on the features of interest and profit rate, balance transfer annual charge, annual fees, annual fees for supplementary card, late payment, late payment maximum fees, cash withdrawal charges fees, minimum annual income, minimum age for primary cards, maximum age for primary cards, and minimum age for supplementary cards. However, only two features are statistically significant among the cards, these being cash back and interest rate on cash withdrawal. The findings will provide important insights for business managers, credit card users, and other policymakers regarding features and market segmentation in the credit card industry in Malaysia.
To operate successfully in this credit card industry, various kinds of credit cards are offered to distinct user groups. This empirical study is conducted in Malaysia, and it examines the features of different types of credit card available. By using descriptive and one-way ANOVA test, this study analyses data of 234 credit cards which were collected from ringgitplus.com and imoney.my websites. The cards are categorised based on the usage purpose like airline tickets, insurance, dining, entertainment, fuel, lifestyle, groceries, shopping, utilities healthcare and general use. In total thirteen features are analysed for all of these cards. The findings show there is no significant difference in the purpose of cards based on the features of interest and profit rate, balance transfer annual charge, annual fees, annual fees for supplementary card, late payment, late payment maximum fees, cash withdrawal charges fees, minimum annual income, minimum age for primary cards, maximum age for primary cards, and minimum age for supplementary cards. However, only two features are statistically significant among the cards, these being cash back and interest rate on cash withdrawal. The findings will provide important insights for business managers, credit card users, and other policymakers regarding features and market segmentation in the credit card industry in Malaysia.
scite is a Brooklyn-based organization that helps researchers better discover and understand research articles through Smart Citations–citations that display the context of the citation and describe whether the article provides supporting or contrasting evidence. scite is used by students and researchers from around the world and is funded in part by the National Science Foundation and the National Institute on Drug Abuse of the National Institutes of Health.
hi@scite.ai
10624 S. Eastern Ave., Ste. A-614
Henderson, NV 89052, USA
Copyright © 2024 scite LLC. All rights reserved.
Made with 💙 for researchers
Part of the Research Solutions Family.