Millah: Journal of Religious Studies
Vol. 22, No. 2, August 2023

Islamic Finance Practices in Micro, Small, and Medium Enterprises in Indonesia: A Systematic Literature Review

Selamet Hartanto (Program Studi Manajemen (S1), Universitas Sarjanawiyata Tamansiswa, Yogyakarta, Indonesia)
Tri Suparyanto (Program Studi Manajemen (S1), Universitas Sarjanawiyata Tamansiswa, Yogyakarta, Indonesia)
Azwar (Program Studi Manajemen (S1), Universitas Sarjanawiyata Tamansiswa, Yogyakarta, Indonesia)



Article Info

Publish Date
28 Aug 2023

Abstract

This study analyzes Islamic finance practices in micro, small, and medium enterprises (MSMEs) in Indonesia from an Islamic economics perspective. This study employed a systematic literature review method following the Preferred Reporting Items for Systematic Reviews and Meta-Analyses (PRISMA). The main data source was written material that analyzed the impact of Islamic finance practices on MSMEs in Indonesia. The findings demonstrate that Islamic finance practices positively influence the growth of MSMEs in Indonesia. This study indicates that Islamic finance practices have substantial potential for enhancing the well-being of MSMEs in the country. Noteworthy growth factors for MSMEs encompass Islamic business and economic ethics, innovation, and ethical and moral considerations. Islamic finance practices are a promising option for Indonesian MSMEs to enhance their business growth. Therefore, adopting Islamic finance practices can contribute to improving business performance and fostering MSMEs' growth. Future research may involve empirical studies to gain a more comprehensive understanding of Islamic finance practices in Indonesian MSMEs.

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Journal Info

Abbrev

Millah

Publisher

Subject

Religion

Description

Millah: Journal of Religious Studies (E-ISSN: 2527-922X) is an international double-blind peer-review journal focusing on original research articles related to religious studies. The journal welcomes contributions on the following topics: Religious studies Islamic studies Christian studies Hindu ...