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Journal of Islamic Finance and Economic Studies
Published by CV. SPDF HARMONY
ISSN : -     EISSN : 3108964X     DOI : ttps://doi.org/10.64268/jifes.v1i2.37
Core Subject : Economy, Science, Education, Social,
Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Environmental Science Law, Crime, Criminology & Criminal Justice
Journal of Islamic Finance and Economic Studies (JIFES) (e-ISSN: 3108-964X) is a peer-reviewed journal published biannually that focuses on the integration of Islamic finance, socioeconomic transformation, and sustainable development. JIFES highlights innovative research that bridges maqasid al-shariah principles with contemporary issues such as digitalization, ethical finance, and inclusive economic growth. The journal publishes high-quality empirical, conceptual, and policy-oriented studies that explore how Islamic values can shape sustainable financial systems, digital Islamic entrepreneurship, and socially responsible economic practices. By serving as a platform for global scholars, practitioners, and policymakers, JIFES promotes cross-disciplinary dialogue and drives innovation at the intersection of Islamic economics, technology, and sustainability.
Arjuna Subject : Ilmu Ekonomi, Ekonometrika dan Keuangan (semua kategori) - Ilmu Ekonomi, Ekonometrika dan Keuangan (Lain-Lain)
Articles 11 Documents
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Sustainability by the Ethics of Unity of Knowledge Between Economy, Science, and Society by the Qur’anic Methodological Worldview of Complementarities Masudul Alam Choudhury Choudhury
Journal of Islamic Finance and Economic Studies Vol. 2 No. 1 (2026): Journal of Islamic Finance and Economic Studies
Publisher : CV. SPDF Harmony

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.64268/jifes.v2i1.121

Abstract

Background: Sustainability increasingly requires a framework capable of integrating economic development, scientific advancement, social wellbeing, and ethical responsibility, yet prevailing approaches often treat these dimensions as separate or only loosely connected domains. Aims: This study aims to develop a Qur’anic epistemological model of sustainability grounded in the Unity of Knowledge (Tawhid) and to explain how moral consciousness, endogenous ethics, complementarity, circular causation, evolutionary learning, and wellbeing can be integrated into a coherent analytical structure. Method: A conceptual-theoretical design was employed, combining interdisciplinary synthesis, comparative interpretation, mathematical formalization, and a limited analytical illustration using Islamic participatory financing data for 2011–2018 drawn from the Islamic Development Bank Annual Report 2019. Results: The resulting framework represents sustainability as a recursive process in which economy, science, and society interact through knowledge-induced complementarities, while the wellbeing function serves as the principal evaluative criterion. The analytical illustration shows that Murabaha, leasing and loan-based financing with Istisna’a, and Awqaf financing did not move uniformly over the observed period; most estimated relationships were positive, although one negative cross-financing coefficient indicated incomplete complementarity. The knowledge or consciousness model produced positive coefficients for all three financing variables, with a combined elasticity of approximately 0.9752. Conclusion: The study concludes that normative compatibility alone does not ensure systemic sustainability, because sustainable wellbeing depends on reciprocal and ethically embedded relationships among interconnected socio-scientific domains. The proposed framework contributes a unified epistemological perspective that positions ethical consciousness as an endogenous organizing principle linking knowledge formation, institutional interaction, and long-term sustainability.

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