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All Journal Journal of Islamic Economics and Business Ethics
Nayla Faiza Putri Alya
Universitas Islam Negeri Sunan Gunung Djati Bandung, Indonesia
Arts Economics, Econometrics & Finance

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Islamic Finance and Multicultural Social Justice: A Systematic Review of Rahmatan lil-‘Alamin Principles in Economic Development Danial Muhammad Wirdyansyah; Nayla Faiza Putri Alya; Azka Wildan Hakim; Oliver William Knight
JOURNAL OF ISLAMIC ECONOMICS AND BUSSINES ETHICS Vol 3 No 2 (2026): JIESBI: Journal of Islamic Economics and Business Ethics
Publisher : IAIN Syekh Nurjati Cirebon

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24235/jiesbi.v3i2.564

Abstract

In the context of globalization and multiculturalism accompanied by persistent economic inequality and social injustice, this study examines the role of Islamic finance in promoting social justice through the integration of Rahmatan lil-‘Alamin values and Maqasid al-Shariah principles in economic development. Despite the growing discourse on ethical and inclusive finance, the practical capacity of Islamic finance to address social justice challenges in multicultural societies remains insufficiently systematized. This study contributes a systematic synthesis that explicitly links Islamic finance instruments, Maqasid al-Shariah, and multicultural social justice within a unified analytical framework. Employing a Systematic Literature Review (SLR), this study reviews 52 selected articles from an initial corpus of 2,616 Scopus-indexed publications published between 2015 and 2025. The findings reveal that Islamic finance promotes social justice through inclusive mechanisms such as profit-and-loss sharing, zakat, waqf, and sukuk, contributing to inequality reduction, financial inclusion, and community empowerment. The study concludes that Islamic finance represents a viable ethical economic system capable of fostering inclusive and socially just development in multicultural societies.
Co-Authors Azka Wildan Hakim Danial Muhammad Wirdyansyah Oliver William Knight