Sustainability of Islamic Finance: A Study on Sharī'ah Boards
Küçük Resim Yok
Tarih
2025
Yazarlar
Dergi Başlığı
Dergi ISSN
Cilt Başlığı
Yayıncı
Anadolu Ilahiyat Akademisi
Erişim Hakkı
info:eu-repo/semantics/openAccess
Özet
Purpose: Shari'ah boards are one of the cornerstones of the Islamic financial system. This study aims to analyze the extent to which Shari'ah boards align with sustainable finance principles. The research focuses on the issue that Shari'ah boards are generally considered to provide only provide legal legitimacy, with their contribution to sustainability principles having not been sufficiently explored in the literature. Within this framework, the study seeks to reposition Shari'ah councils as governance bodies that align with values such as ethics, transparency, accountability, and social responsibility. Method: Qualitative research methods were employed, with document analysis used as the data collection technique. Data obtained from primary sources such as fatwas, standards, reports, and strategy documents published by Shari'a councils were evaluated using thematic analysis. Statements related to sustainability in the documents were classified under themes such as reliability, social welfare, education, institutional transparency, environmental awareness and accountability. Findings: The councils were categorized according to their functional characteristics as either international regulatory and supervisory bodies, international standard-setting bodies, or national regulatory and supervisory bodies. This establishes a basis for comparative and thematic analysis. The findings reveal that Shari'ah boards contribute to the long-term sustainability of Islamic finance in terms of both fiqh compliance and also in terms of governance, social welfare, and environmental responsibility. Conclusion: This study makes a unique contribution to sustainability-focused Shari'ah board reviews focused on sustainability, based on document analysis, a topic which is underrepresented in the Turkish literature. Additionally, by emphasising the potential role of Shari'ah councils to influence the development of Islamic finance into a more ethical, fair, and socially beneficial system, the study offers a conceptual framework for broadening the traditional remit of these councils.
Açıklama
Anahtar Kelimeler
Islamic Law, Islamic Finance, Shariah Board, Shariah Governance, Sustainability
Kaynak
Eskiyeni
WoS Q Değeri
N/A
Scopus Q Değeri
Cilt
Sayı
59
