A PARADIGM SHIFT IN ISLAMIC FINANCE INDUSTRY: VALUE BASED INTERMEDIATION, HUMAN DEVELOPMENT INDEX, ECOLOGICAL FOOTPRINT, AND SOCIAL IMPACT FINANCING

Authors

  • Dr. Shah Fahad
  • *Dr. Mohammad Ayaz
  • Dr. Sadaf Shaheen

Abstract

This study presents a comprehensive examination of the transformative potential of Islamic finance in advancing sustainable development goals (SDGs). It underscores the unique position of Islamic finance, with its ethical and moral foundations, to contribute significantly to environmental sustainability, social equity, and economic development. The paper highlights innovative financial instruments like Zakat, Waqf, and green Sukuk, which not only align with but also actively promote SDGs. Through a multidisciplinary approach, it advocates for a paradigm shift towards integrating sustainability into the core of financial systems. The analysis includes challenges in harmonizing Human Development Indexes (HDIs) with Ecological Footprints (EFs), proposing strategies for sustainable development, ecological conservation, and educational reforms. This study is pivotal for policymakers, financial institutions, and educators, providing a roadmap for leveraging Islamic finance towards achieving a balanced, sustainable, and inclusive global economy.‎

Keywords:  Islamic Finance, Sustainable Development Goals (SDGs), Environmental Sustainability, Social Impact Financing, Ecological Footprint‎.

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Published

2026-06-29

How to Cite

Dr. Shah Fahad, *Dr. Mohammad Ayaz, & Dr. Sadaf Shaheen. (2026). A PARADIGM SHIFT IN ISLAMIC FINANCE INDUSTRY: VALUE BASED INTERMEDIATION, HUMAN DEVELOPMENT INDEX, ECOLOGICAL FOOTPRINT, AND SOCIAL IMPACT FINANCING. Journal of Management Science Research Review, 5(2), 2918–2935. Retrieved from https://jmsrr.com/index.php/Journal/article/view/697

Issue

Vol. 5 No. 2 (2026): Journal of Management Science Research Review

Section

Articles