Green Investment and Sustainable Development: The Case of Islamic Finance

Al‐Roubaie, Amer; Sarea, Adel

doi:10.26501/jibm/2019.0901-002

Cited by 8 publications

(4 citation statements)

References 3 publications

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“…, 2019). The Islamic view states that investment must drive the productive sector to finance projects that preserve the environment (green financing) within the framework of supporting economic growth (Al-roubaie and Sarea, 2019). Cowton in Wilson (1997) states ethical investment uses ethical and social criteria to select and manage investment portfolios, including the value of profits, accompanying risks and characteristics of the company as an investment destination.…”

Section: Resultsmentioning

confidence: 99%

A bibliometric analysis of Islamic banking sustainability: a study based on Scopus scientific database

Hartanto,

Nachrowi,

Samputra

et al. 2024

JIMA

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Purpose This paper aims to analyze the scientific trend of research on Islamic banking sustainability (IBS) through a bibliometric study. In particular, the paper extensively investigates all the articles issued through the Scopus database regarding the IBS. Design/methodology/approach The authors discovered 76 papers that met the function, subject and set requirements by using the phrase IBS. The authors used VOSviewer as an analytical tool and the Scopus website. Findings IBS publications were found in the period 2005–2022, and the publication trend of IBS research demonstrates that it is growing exponentially after 2018. Malaysia is the leading country in terms of productive authors, universities, number of documents, citations and collaboration research on IBS. The current research trends are summarized into five cluster maps for future research directions: sustainability measurement, sustainability practices, risk and governance, corporate social responsibility (CSR) and IBS theory. The Maqashid al Shariah approach conceptually influences the framework for constructing the dimensions and indicators used to measure the IBS. Research limitations/implications The authors retrieved data for their research from the Scopus database; using other databases might result in totally different research patterns with this IBS bibliometric research. Practical implications The research encompasses valuable implications for Islamic banking as it offers valuable insights on how to assess the performance of IBS. Particularly, it contributes to identifying the dimensions and indicators needed to measure IBS performance. Furthermore, this research provides strategic initiatives to promote sustainable practices in Islamic banking in terms of green financing taxonomy, services, operations, risk management and governance. Social implications This research is valuable for other scholars as it offers a foundation for the future growth of IBS research, focusing on important sustainability clusters obtained from selected reputable journals. This research is beneficial for regulators in enhancing the roadmap for establishing and enhancing long-term IBS with impacts on socio-economic, environmental and governance. Originality/value The study presents a concise review of the bibliometric study in IBS and provides recommendations for future research directions in cluster mapping of themes and subthemes. There is still insufficient research that examines the IBS, in particular, complete insights into the IBS literature review.

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Section: Resultsmentioning

confidence: 99%

A bibliometric analysis of Islamic banking sustainability: a study based on Scopus scientific database

Hartanto,

Nachrowi,

Samputra

et al. 2024

JIMA

View full text Add to dashboard Cite

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“…According to Islamic teachings, resources must benefit the whole people rather than being dominated by a few wealthy and powerful individuals. Natural resources must be used not just to safeguard the environment, but also to promote human survival (Al-Roubaie & Sarea, 2019).…”

Section: Green Economy and Its Relevancies With Islamic Economymentioning

confidence: 99%

Green Economy and Some Relevancies from Islamic Finance Perspective

Aam¹,

Muhammad

2022

JIEL

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The green economy is one of the new economic concepts still popular in research, emphasizing the balance between economic and environmental dimensions. The green economy concept is in line with the existing concept of Islamic finance. As a new concept, research related to a green economy is also developing. Therefore, this study aims to provide qualitative information on the development of green economy literature. There are 1183 papers in journal articles, book chapters, and conference papers indexed by the Scopus database from 1961-2021. We employed VOSViewer and Excel software to synthesize and analyze the data. This research is limited to the Scopus database related to the green economy. In addition, we identified the relevancies between the green economy and Islamic finance, and some research has been discussed these issues. Regarding the result obtained, we found that the rules in Islamic finance support the implementation of the green economy concept. Furthermore, we also found sukuk as a potential instrument in Islamic finance that can be utilized to promotes the green economy concept.

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“…In the Islamic economic system, investors have to comply with the principles of Sharī'ah i.e., to do justice with all stakeholders, protect the economic environment and sustain the development process (Al-Roubaie & Sarea, 2019). Social Welfare Islamic financial institutions work under the umbrella of Sharī'ah which guides the whole process and social activities.…”

Section: Sustainable Developmentsmentioning

confidence: 99%

Compliance of Islamic Financial Institutions in Pakistan with the Principles of Islamic Commercial Law: An Illusion or Reality (Views of Islamic Law Scholars)

Sajjad

Saqib

Haq

2020

J. Islam. bus. manag.

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Sharī'ah compliance of Islamic financial institutions is one of the most important aspects of research in these days. In Pakistan, Sharī'ah compliance is made essential for Islamic Banking Institutions (IBIs) by the regulatory body, the State Bank of Pakistan (SBP). To comply with the Sharī'ah s rules and regulations, SBP, therefore, introduced a comprehensive Sharī'ah Governance Framework (SGF) in 2015. It is the duty of Sharī'ah board to ensure that transactions of the IBIs fall under the ambit of Islamic commercial law. This study, primarily, discusses two dimensions regarding the compliance of the IBIs' business, i.e., whether it is an illusion or reality. Discussion in "Focused Group", an important technique of qualitative research method has been adopted. While following this, data has been collected through one-on-one interviews. A sample size of fourteen (14) Informants (7 Sharī'ah advisors associated with Islamic banks and finance institutions, and 7 Sharī'ah scholars) was drawn; covering, mainly, two major cities of Pakistan i.e., Lahore and Karachi. Moreover, Sharī'ah Advisors have been selected from the Securities and Exchange Commission of Pakistan (SECP) registered list. Sharī'ah scholars, on the other hand, have been taken from recognized educational institutes of HEC. Interview questions, of the present work, are directly related to Sharī'ah compliance of IBIs in Pakistan.The findings reveal that Islamic banks are Sharī'ah compliant in Pakistan.

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Green Investment and Sustainable Development: The Case of Islamic Finance

Abstract: Reflecting on the impact of human activities on future sustainability has intensified the debate about the environment

Cited by 8 publications

References 3 publications

A bibliometric analysis of Islamic banking sustainability: a study based on Scopus scientific database

A bibliometric analysis of Islamic banking sustainability: a study based on Scopus scientific database

Green Economy and Some Relevancies from Islamic Finance Perspective

Compliance of Islamic Financial Institutions in Pakistan with the Principles of Islamic Commercial Law: An Illusion or Reality (Views of Islamic Law Scholars)

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