Journal of Islamic Economics and Business Ethics
Vol 3 No 2 (2026): JIESBI: Journal of Islamic Economics and Business Ethics

Islamic Finance and Multicultural Social Justice: A Systematic Review of Rahmatan lil-‘Alamin Principles in Economic Development

Danial Muhammad Wirdyansyah (Universitas Islam Negeri Sunan Gunung Djati Bandung, Indonesia)
Nayla Faiza Putri Alya (Universitas Islam Negeri Sunan Gunung Djati Bandung, Indonesia)
Azka Wildan Hakim (Universitas Islam Negeri Sunan Gunung Djati Bandung, Indonesia)
Oliver William Knight (RMIT University, Australia)



Article Info

Publish Date
28 Jun 2025

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.

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Journal Info

Abbrev

JIESBI

Publisher

Subject

Arts Economics, Econometrics & Finance

Description

IESBI: Journal of Islamic Economics and Business Ethics E-ISSN 3047-311X is and P-ISSN 3064-4585 high-quality open access peer-reviewed research journal published by the UIN Cyber ​​Syekh Nurjati Postgraduate, Cirebon, West Java, Indonesia in collaboration with the Association of Islamic ...