Cracking the Code to Anticipating Post-Sdgs 2030: Islamic Finance Perspective

Abstract

Background: Islamic finance’s focus on social inclusion and development makes it ideal for achieving the 2030 agenda. The purpose of this study is to explore how Islamic finance, specifically Sukuk (Islamic Bond), anticipates post-SDGs 2030 in its own way. The systematic literature review is employed in this study to discover, assess, and analyze every relevant piece of research that has been published yet in order to provide answers to the research questions. We selected articles from the Scopus and Google Scholar databases that met standard eligibility criteria. To analyze the data, researchers used Covidence as a tool to accelerate this systematic review. Our analysis revealed that, to anticipate post-SDGs, Sukuk as one of the Islamic finance products contributes to increased economic and business activity that has an impact on climate change, reducing extreme poverty and inequality. In addition, Islamic finance is also capable of ensuring financial and social stability as well as promoting better and equal human development. The Shariah principles inherent in it have an important contribution to sustainable and equitable development. Thus, development is expected to be more inclusive and sustainable like SDGs’ ambition of “no one left behind”.   Objective: To explore how Islamic finance, specifically Sukuk, anticipates post-SDGs 2030 in its own way.   Method: This research uses qualitative methods. The systematic literature review is employed in this study to discover, assess, and analyze every relevant piece of research that has been published yet in order to provide answers to the research questions.   Results and Discussion: The results revealed that, to anticipate post-SDGs, Sukuk as one of the Islamic finance products contributes to increased economic and business activity that has an impact on climate change, reducing extreme poverty and inequality.   Research Implications: The implication of this research is as follows: Islamic finance is capable of ensuring financial and social stability as well as promoting better and equal human development. The Shariah principles inherent in it make an important contribution to sustainable and equitable development. Thus, development is expected to be more inclusive and sustainable, in line with the SDGs’.