Research Article 37
Journal of Finance & Economics Research - Volume 7, Issue 2 2022
By Aurang Zeb, Muhammad Fahad Siddiqi, Ilyas Sharif, Adil Adnan
10.20547/jfer2207205
Keywords: Islamic finance, sustainable development goals, Maqasid-al-Shariah, financial institution.

This study investigates whether Islamic finance has an association with United Nations' sustainable development goals (SDGs). Analyzing the extant literature, we find that Islamic finance and SDGs have a close relationship. The study also suggests the avenues where Islamic finance may contribute to the SDGs' achievement. These include financial sector stability, reducing vulnerability and risk, financial inclusion, infrastructure development and resolving environmental and social issues. Furthermore, the study develops a framework that links Maqasid-al-Shariah with SDGs. The study assists the policymakers to mobilize resources for achieving SDGs in developing economies, especially in those whose populations consist of a significant percentage of Muslims.

Submission Date: 15 May, 2022 Reviews Completed: 29 Jul, 2022
Acceptance Date: 13 Aug, 2022 Publication Date: 24 Aug, 2022