Exploring the Role of Islamic Finance in Sustainable Economic Development: A Comprehensive Literature Review Study (Economic Islam in the Last 2 Years in East Java)
Keywords:
Islamic Finance, Sustainable Development, Zakat Waqf, Islamic Banking, Economic Empowerment.Abstract
This study explores the significant role of Islamic finance in driving sustainable economic development, focusing on literature from the last two years (2023–2024) in the East Java region. Through a systematic literature review methodology, this paper examines how Islamic financial institutions, instruments, and principles—such as zakat, waqf, sharia-compliant banking, and Islamic microfinance—contribute to inclusive and equitable economic growth. The findings reveal that Islamic finance, when effectively integrated with local socio-economic structures, has the potential to alleviate poverty, empower MSMEs, and enhance regional resilience. The review also highlights current limitations and recommends policy and institutional improvements to optimize Islamic finance’s impact on sustainable development in East Java..
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Copyright (c) 2025 Mohammad Subhan, Ziyadatus Shofiyah, Relita Rifiqoh (Author)
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