Islamic Finance for Sustainable Development: A Hybrid Systematic Literature Review And Bibliometric Analysis 1. Cita Sary Dja^akum- 2. Atina Shofawati- 3. Ach Fatayillah Mursyidi
1. Department of Islamic Economics, Faculty of Economics and Business, Airlangga University, Surabaya, Indonesia, AND Faculty of Islamic Economics and Business, Walisongo State Islamic University Semarang, Indonesia
2. Department of Islamic Economics, Faculty of Economics and Business, Airlangga University, Surabaya, Indonesia
3. School of Divinity, University of Edinburgh
Abstract
Purpose - Many studies have examined Islamic finance in recent decades. However, in-depth research on this subject is still limited. Therefore, this study aims to conduct a systematic literature review and bibliometric analysis on Islamic finance based on existing empirical research.
Design/methodology/approach - The study used a hybrid approach that combines a systematic review and bibliometric analysis to provide a comprehensive picture. A systematic literature review follows the PRISMA guidelines by using the term ^Islamic finance^ in the ^Article Title, Abstract, and Keywords^ database Scopus, and generated 2861 publications from 1991 to 2025. Meanwhile, bibliometric analysis uses the VOSviewer tool. The evaluation will be carried out on May 3, 2025.
Findings - Research on Islamic finance is still in great demand, although very few people researched it in the early days of its emergence. Research on Islamic finance is not limited to countries with Muslim majorities, such as Malaysia and Indonesia, but also to countries with a non-Muslim majority, such as the United Kingdom and the United States. The results of this research analysis benefit academics and practitioners in developing Islamic financial theory and its application in financial institutions. The main contribution of Islamic finance in realising sustainable development is with sharia-based financing instruments such as sukuk, and social-based finance such as Zakat, waqf, and infaq.
Limitations/implications of the study - This study only used the Scopus database for academic publications. Advanced research can improve generalisation by combining the Scopus database with the Web of Science.
Practical implications - The implications relate to the sustainability of Islamic financial institutions through Islamic financial instruments based on Sharia principles.
Social implications - The study offers analytical insights on sustainable Islamic finance to professionals and the wider public.
Originality/value - Research on Islamic finance is developing globally. However, in-depth studies on this subject are still limited to the existing literature.
Keywords: Islamic finance, literature review, VOSviewer, bibliometric analysis
