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From Charity to Change: How Islamic Social Finance is Powering the Sustainable Development Goals

Year: 2025

Type: article

Abstract: This article examines how Islamic social finance, including zakat, wakaf, and sadaqah, can shift from ad hoc charity to structured development finance aligned with the SDGs. Synthesizing evidence on Maqasid al Shariah alignment, we identify barriers that keep faith-based funds outside national plans: fragmented governance, weak data, and limited impact measurement. We highlight solutions, including unified reporting, the UNDP and IsDB indicator framework, and fintech for transparent collection and disbursement. Country examples such as Indonesia’s Wakaf Linked Sukuk and Malaysia’s Sadaqah House show models. We propose a roadmap linking policy reform, digital infrastructure, and partnerships to deliver measurable, inclusive outcomes.

Source: Zenodo (CERN European Organization for Nuclear Research)

DOI: 10.5281/zenodo.17467286

Authors: Hasnat, Md. Abu, Hasan, Khandakar Kamrul, Khandakar, Hissan

Institution: HHH Research Consultancy & Development (Bangladesh)

Language: English

Topic: Islamic Finance and Banking Studies

Subfield: Accounting

Field: Business, Management and Accounting

Domain: Social Sciences

SDGs: Partnerships for the goals, Reduced inequalities, No poverty, Peace, justice, and strong institutions

Open Access status: green

OpenAlex ID: W7101950760

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