Version 1
: Received: 12 August 2024 / Approved: 16 August 2024 / Online: 16 August 2024 (12:41:31 CEST)
How to cite:
Fahad, S.; Bulut, M. A Paradigm Shift in Islamic Finance Industry: Value Based Intermediation, Human Development, Ecological Footprint, and Social Impact Financing. Preprints2024, 2024081243. https://doi.org/10.20944/preprints202408.1243.v1
Fahad, S.; Bulut, M. A Paradigm Shift in Islamic Finance Industry: Value Based Intermediation, Human Development, Ecological Footprint, and Social Impact Financing. Preprints 2024, 2024081243. https://doi.org/10.20944/preprints202408.1243.v1
Fahad, S.; Bulut, M. A Paradigm Shift in Islamic Finance Industry: Value Based Intermediation, Human Development, Ecological Footprint, and Social Impact Financing. Preprints2024, 2024081243. https://doi.org/10.20944/preprints202408.1243.v1
APA Style
Fahad, S., & Bulut, M. (2024). A Paradigm Shift in Islamic Finance Industry: Value Based Intermediation, Human Development, Ecological Footprint, and Social Impact Financing. Preprints. https://doi.org/10.20944/preprints202408.1243.v1
Chicago/Turabian Style
Fahad, S. and Mehmet Bulut. 2024 "A Paradigm Shift in Islamic Finance Industry: Value Based Intermediation, Human Development, Ecological Footprint, and Social Impact Financing" Preprints. https://doi.org/10.20944/preprints202408.1243.v1
Abstract
This study presents a comprehensive examination of the transformative potential of Islamic finance in advancing sustainable development goals (SDGs). It underscores the unique position of Islamic finance, with its ethical and moral foundations, to contribute significantly to environmental sustainability, social equity, and economic development. The paper highlights innovative financial instruments like Zakat, Waqf, and green Sukuk, which not only align with but also actively promote SDGs. Through a multidisciplinary approach, it advocates for a paradigm shift towards integrating sustainability into the core of financial systems. The analysis includes challenges in harmonizing Human Development Indexes (HDIs) with Ecological Footprints (EFs), proposing strategies for sustainable development, ecological conservation, and educational reforms. This study is pivotal for policymakers, financial institutions, and educators, providing a roadmap for leveraging Islamic finance towards achieving a balanced, sustainable, and inclusive global economy.
Keywords
Islamic finance; sustainable development goals (SDGs); environmental sustainability; Social Impact Financing; Ecological Footprint
Subject
Business, Economics and Management, Business and Management
Copyright:
This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
