Staff View: Alignment of Islamic banking sustainability indicators with sustainable development goals: policy recommendations for addressing the COVID-19 pandemic

Alignment of Islamic banking sustainability indicators with sustainable development goals: policy recommendations for addressing the COVID-19 pandemic

This study aims to establish the link of key Islamic banking sustainability indicators with the United Nations’ Sustainable Development Goals (UN SDGs) as a policy recommendation for sustainable development and to mitigate the distressing impacts of the COVID-19 pandemic on the triple bottom line (p...

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Main Authors:	Jan, Amin, Mata, Mario Nuno, Albinsson, Pia, Martins, Jose Moleiro, Hassan, Rusni, Mata, Pedro Neves
Format:	Article
Language:	English English English
Published:	MDPI AG 2021
Subjects:	BPH Islamic Economics HG3368 Islamic Banking and Finance
Online Access:	http://irep.iium.edu.my/89114/1/89114_Alignment%20of%20Islamic%20Banking%20Sustainability.pdf http://irep.iium.edu.my/89114/2/89114_Alignment%20of%20Islamic%20Banking%20Sustainability_SCOPUS.pdf http://irep.iium.edu.my/89114/13/89114_Alignment%20of%20Islamic%20Banking%20Sustainability_wos.pdf http://irep.iium.edu.my/89114/ https://www.mdpi.com/2071-1050/13/5/2607
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spelling	my.iium.irep.891142021-05-10T07:31:06Z http://irep.iium.edu.my/89114/ Alignment of Islamic banking sustainability indicators with sustainable development goals: policy recommendations for addressing the COVID-19 pandemic Jan, Amin Mata, Mario Nuno Albinsson, Pia Martins, Jose Moleiro Hassan, Rusni Mata, Pedro Neves BPH Islamic Economics HG3368 Islamic Banking and Finance This study aims to establish the link of key Islamic banking sustainability indicators with the United Nations’ Sustainable Development Goals (UN SDGs) as a policy recommendation for sustainable development and to mitigate the distressing impacts of the COVID-19 pandemic on the triple bottom line (people, planet, and profit). To identify the key Islamic banking sustainability indicators, the authors selected the most cited sustainability measurement indexes in Islamic banking. Initially, the indexes were divided into 10 broader themes, and then the key Islamic banking sustainability indicators were shortlisted from each theme based on their high-frequency distribution. The shortlisted sustainability indicators were then ratified to be in line with Islamic philosophy based on “Maqasid al-Shariah” (objectives of Shariah) and were subsequently grouped into the three dimensions of economic, environmental, and social sustainability based on the axial coding method. Finally, the categorized sustainability indicators were aligned with the relevant UN SDGs through the axial coding method for policy formulation, and respectively 12 propositions were developed for policy formulation. This study labeled the methodological process of this study as the ECA method (exploration, categorization, alignment). The new ECA method offers a reverse extension in the “SDG compass” developed by the Global Reporting Initiative (GRI) for aligning business policies with the UN SDGs. The process of aligning Islamic banking sustainability indicators with the UN SDGs will provide a roadmap to recovery from the COVID-19 pandemic in terms of economic, environmental, and social issues. Due to the diversity of the UN SDG framework, it covers multiples aspects for sustainable development. Therefore, considering the UN SDGs in terms of various banking instruments will mitigate the multiple distressing impacts of COVID-19 on the triple bottom line (people, planet, and profit), it will also promote a sustainable development agenda MDPI AG 2021-03-01 Article PeerReviewed application/pdf en http://irep.iium.edu.my/89114/1/89114_Alignment%20of%20Islamic%20Banking%20Sustainability.pdf application/pdf en http://irep.iium.edu.my/89114/2/89114_Alignment%20of%20Islamic%20Banking%20Sustainability_SCOPUS.pdf application/pdf en http://irep.iium.edu.my/89114/13/89114_Alignment%20of%20Islamic%20Banking%20Sustainability_wos.pdf Jan, Amin and Mata, Mario Nuno and Albinsson, Pia and Martins, Jose Moleiro and Hassan, Rusni and Mata, Pedro Neves (2021) Alignment of Islamic banking sustainability indicators with sustainable development goals: policy recommendations for addressing the COVID-19 pandemic. Sustainability, 13 (5). pp. 1-38. ISSN 2071-1050 https://www.mdpi.com/2071-1050/13/5/2607 10.3390/su13052607
institution	Universiti Islam Antarabangsa Malaysia
building	IIUM Library
collection	Institutional Repository
continent	Asia
country	Malaysia
content_provider	International Islamic University Malaysia
content_source	IIUM Repository (IREP)
url_provider	http://irep.iium.edu.my/
language	English English English
topic	BPH Islamic Economics HG3368 Islamic Banking and Finance
spellingShingle	BPH Islamic Economics HG3368 Islamic Banking and Finance Jan, Amin Mata, Mario Nuno Albinsson, Pia Martins, Jose Moleiro Hassan, Rusni Mata, Pedro Neves Alignment of Islamic banking sustainability indicators with sustainable development goals: policy recommendations for addressing the COVID-19 pandemic
description	This study aims to establish the link of key Islamic banking sustainability indicators with the United Nations’ Sustainable Development Goals (UN SDGs) as a policy recommendation for sustainable development and to mitigate the distressing impacts of the COVID-19 pandemic on the triple bottom line (people, planet, and profit). To identify the key Islamic banking sustainability indicators, the authors selected the most cited sustainability measurement indexes in Islamic banking. Initially, the indexes were divided into 10 broader themes, and then the key Islamic banking sustainability indicators were shortlisted from each theme based on their high-frequency distribution. The shortlisted sustainability indicators were then ratified to be in line with Islamic philosophy based on “Maqasid al-Shariah” (objectives of Shariah) and were subsequently grouped into the three dimensions of economic, environmental, and social sustainability based on the axial coding method. Finally, the categorized sustainability indicators were aligned with the relevant UN SDGs through the axial coding method for policy formulation, and respectively 12 propositions were developed for policy formulation. This study labeled the methodological process of this study as the ECA method (exploration, categorization, alignment). The new ECA method offers a reverse extension in the “SDG compass” developed by the Global Reporting Initiative (GRI) for aligning business policies with the UN SDGs. The process of aligning Islamic banking sustainability indicators with the UN SDGs will provide a roadmap to recovery from the COVID-19 pandemic in terms of economic, environmental, and social issues. Due to the diversity of the UN SDG framework, it covers multiples aspects for sustainable development. Therefore, considering the UN SDGs in terms of various banking instruments will mitigate the multiple distressing impacts of COVID-19 on the triple bottom line (people, planet, and profit), it will also promote a sustainable development agenda
format	Article
author	Jan, Amin Mata, Mario Nuno Albinsson, Pia Martins, Jose Moleiro Hassan, Rusni Mata, Pedro Neves
author_facet	Jan, Amin Mata, Mario Nuno Albinsson, Pia Martins, Jose Moleiro Hassan, Rusni Mata, Pedro Neves
author_sort	Jan, Amin
title	Alignment of Islamic banking sustainability indicators with sustainable development goals: policy recommendations for addressing the COVID-19 pandemic
title_short	Alignment of Islamic banking sustainability indicators with sustainable development goals: policy recommendations for addressing the COVID-19 pandemic
title_full	Alignment of Islamic banking sustainability indicators with sustainable development goals: policy recommendations for addressing the COVID-19 pandemic
title_fullStr	Alignment of Islamic banking sustainability indicators with sustainable development goals: policy recommendations for addressing the COVID-19 pandemic
title_full_unstemmed	Alignment of Islamic banking sustainability indicators with sustainable development goals: policy recommendations for addressing the COVID-19 pandemic
title_sort	alignment of islamic banking sustainability indicators with sustainable development goals: policy recommendations for addressing the covid-19 pandemic
publisher	MDPI AG
publishDate	2021
url	http://irep.iium.edu.my/89114/1/89114_Alignment%20of%20Islamic%20Banking%20Sustainability.pdf http://irep.iium.edu.my/89114/2/89114_Alignment%20of%20Islamic%20Banking%20Sustainability_SCOPUS.pdf http://irep.iium.edu.my/89114/13/89114_Alignment%20of%20Islamic%20Banking%20Sustainability_wos.pdf http://irep.iium.edu.my/89114/ https://www.mdpi.com/2071-1050/13/5/2607
_version_	1701162782812012544
score	13.211869

Alignment of Islamic banking sustainability indicators with sustainable development goals: policy recommendations for addressing the COVID-19 pandemic

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