Year: 2025 | Month: August | Volume: 12 | Issue: 8 | Pages: 515-522
DOI: https://doi.org/10.52403/ijrr.20250861
Systematic Literature Review on the Integration of Maqashid al-Shariah and ESG Principles in Islamic Financial Institutions
Imamatin Listya Putri1, Agung Budi Sulistiyo2, Novi Wulandari Widiyanti3, Muhammad Miqdad4
1,2,3,4Accounting Program, Economic and Business Faculty, Jember University, Jember, Indonesia.
Corresponding Author: Agung Budi Sulistiyo
ABSTRACT
This study examines the integration of Maqashid al-Shariah and Environmental, Social, and Governance (ESG) principles within Islamic financial institutions, considering that both share similar foundational values yet remain systematically unintegrated. The primary objective of this research is to map the alignment, discrepancies, and potential avenues for integration between the two frameworks. A Systematic Literature Review (SLR) method was employed, using a rigorous protocol to identify academic publications from the past five years. Data were sourced from open-access journals relevant to the research keywords. The findings reveal that there is still no unified evaluative framework that operationally merges ESG and Maqashid principles. This outcome highlights the need to develop a Shariah-based sustainability model that aligns with global standards while remaining rooted in Islamic values.
Keywords: Maqashid al-Shariah; Environmental, Social, and Governance (ESG); Islamic financial institutions; Systematic Literature Review (SLR); Shariah-based sustainability model
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