Journal of Management, Economic, and Financial
Vol. 4 No. 2 (2026): Journal of Management, Economic and Financial

Integration Of Islamic Social Finance And Green Finance In Improving The Economic Resilience Of Halal Msmes

Agus Rohmat Hidayat (Perguruan Tinggi Islam Kuningan, Indonesia)
Feri Hardiyanto (Perguruan Tinggi Islam Kuningan, Indonesia)
Rudi Ferdiansah (Universitas Muhammadiyah Cirebon, Indonesia)



Article Info

Publish Date
25 Mar 2026

Abstract

This study examines the integration of Islamic Social Finance (ISF) and Green Finance (GF) in strengthening the economic resilience of Halal MSMEs in Kuningan Regency, West Java. Using a quantitative approach with Ordinary Least Squares (OLS) multiple regression and Sobel mediation test on 120 sample respondents, the findings show that ISF (B = 0.384; P< 0.001), GF (B= 0.291; p < 0.001), their interaction terms ISF×GF (B = 0.178; P= 0.006), and Halal Business Index (B = 0.214; p < 0.001) significantly and positively affects economic resilience. The model explains 72.14% variance (R² = 0.7214). Furthermore, the Halal Business Index partially mediates the relationship between ISF, GF, and economic resilience (Sobel z > 3.0; P < 0.01). These results confirm that synergistic integration of ISF and GF, underpinned by halal principles and productive social financing (zakat, infaq, waqf), substantially enhances the economic resilience and sustainability of Halal MSMEs.

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Journal Info

Abbrev

jmef

Publisher

Subject

Humanities Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Social Sciences

Description

The Journal of Management, Economic, and Financial is a double-blind peer review and open access academic journal. This journal is a scientific magazine published six issues per year has published its first issue in 2022 with e-ISSN 2986-6863. The journal publishes research papers, technical papers, ...