Evolution and Dynamics of Islamic Public Finance in Alleviating Extreme Poverty through Green Economic Development in ASEAN Countries: A Bibliometric Analysis (2002–2025)
DOI:
https://doi.org/10.30631/ijoieb.v10i2.5633Keywords:
Islamic Public Finance; Poverty Alleviation; Green Economy; Sustainable Development; ASEANAbstract
This study explores the evolution and intellectual landscape of Islamic Public Finance (IPF) research in ASEAN countries from 2002 to 2025, with a particular focus on its role in alleviating extreme poverty and advancing green economic development. Employing a bibliometric approach, it analyzes 229 Scopus-indexed documents using the Biblioshiny application in R Studio to map publication trends, citation networks, conceptual clusters, and patterns of scientific collaboration. The findings indicate a notable thematic shift from traditional zakat and waqf-focused studies toward a more integrated approach linking Islamic social finance with sustainable development goals, particularly SDG 1 (No Poverty) and SDG 13 (Climate Action). Malaysia and Indonesia emerge as central research hubs, bolstered by strong institutional collaborations involving IIUM, Universitas Airlangga, and UIN Jakarta. Keyword co-occurrence and thematic analyses identify sustainable development, Islamic social finance, and poverty alleviation as core research themes, while emerging areas include green fiscal policy and economic empowerment. The study proposes a new conceptual framework—Islamic Public Finance for Sustainable Development (IPF-SD)—which connects fiscal instruments such as zakat, waqf, and sadaqah with digital governance and inclusive growth to promote equitable and environmentally responsible development. This interdisciplinary mapping not only traces the intellectual trajectory of IPF but also underscores its potential as a Shariah-compliant fiscal model for sustainable policy design. The findings offer important implications for policymakers, practitioners, and scholars in incorporating Islamic fiscal instruments into national sustainability strategies and fostering cross-regional collaboration to drive inclusive and green economic transformation.
References
Abduh, M. (2019). The role of Islamic social finance in achieving SDG 2: End hunger, achieve food security, improve nutrition, and promote sustainable agriculture. Al-Shajarah, 2019(Special Issue Islamic Banking and Finance 2019), 185–206. https://journals.iium.edu.my/shajarah/index.php/shaj/article/view/902
Abdullah Thaidi, H. A. A., El-Alami, D., Ab Rahman, M. F. A., & Jailani, M. R. (2024). ZAKAT-BASED MICROFINANCE: INSIGHTS FROM THE MELAKA ISLAMIC RELIGIOUS COUNCIL (MAIM). Journal of Fatwa Management and Research, 29(3), 199–218. https://doi.org/10.33102/jfatwa.vol30no1.659
Aderemi, A. M. R., & Ishak, M. S. I. (2023). Qard Hasan as a feasible Islamic financial instrument for crowdfunding: its potential and possible application for financing micro-enterprises in Malaysia. Qualitative Research in Financial Markets, 15(1), 58–76. https://doi.org/10.1108/QRFM-08-2021-0145
Aissaoui, A., & Talhi, T. (2025). Efforts of the Organization of Islamic Cooperation in Developing Endowment (Waqf) Economies in the Islamic World. Politics and Religion Journal, 19(1), 139–165. https://doi.org/10.54561/prj1901139a
Akhter, A., Javed, M. Y., & Akhter, J. (2025). Research trends in the field of Islamic social finance: a bibliometric analysis from 1914 to 2022. International Journal of Ethics and Systems, 41(2), 455–483. https://doi.org/10.1108/IJOES-03-2023-0044
Andayani, W., Sukoharsono, E. G., Mukmin, M. N., & Aziz, A. H. B. (2025). Assessing the financial sustainability of micro waqf banks: insights from Indonesia. Cogent Social Sciences, 11(1). https://doi.org/10.1080/23311886.2025.2488117
Aria, M., & Cuccurullo, C. (2017). bibliometrix: An R-tool for comprehensive science mapping analysis. Journal of Informetrics, 11(4), 959–975. https://doi.org/10.1016/j.joi.2017.08.007
Ben Jedidia, K., & Ghroubi, M. (2025). Islamic finance and SDGs: bibliometric review and future research agenda. Journal of Chinese Economic and Business Studies, 23(3), 329–362. https://doi.org/10.1080/14765284.2024.2445959
Chapra, M. U. (1992). Islam and the economic challenge (Issue 17). International Institute of Islamic Thought (IIIT).
Daud, M. Z., Mohd Noh, M. S., Fidhayanti, D., & Mat Hussin, M. N. (2025). EMPOWERING FUTURES: Unveiling Zakat’s Vital Role in Economic Development and Legal Framework in Malaysia. Jurisdictie: Jurnal Hukum Dan Syariah, 16(1), 235–274. https://doi.org/10.18860/j.v16i1.31424
Dirie, K. A., Alam, M. M., & Maamor, S. (2024). Islamic social finance for achieving sustainable development goals: a systematic literature review and future research agenda. International Journal of Ethics and Systems, 40(4), 676–698. https://doi.org/10.1108/IJOES-12-2022-0317
Donthu, N., Kumar, S., Mukherjee, D., Pandey, N., & Lim, W. M. (2021). How to conduct a bibliometric analysis: An overview and guidelines. Journal of Business Research, 133, 285–296. https://doi.org/10.1016/j.jbusres.2021.04.070
Elmiliyani Wahyuni, S., Zainuddin, U., Nirwan, F., & Yuletri, M. (2025). DIGITAL WAQF: INNOVATION OR DISTORTION OF THE CLASSIC WAQF CONCEPT? Petita: Jurnal Kajian Ilmu Hukum Dan Syariah, 10(1), 351–370. https://doi.org/10.22373/petita.v10i1.755
Garfield, E. (1955). Citation indexes for science. Science, 122(3159), 108–111. https://doi.org/10.1126/science.122.3159.108
Hagawe, H. M., Mobarek, A., Hanuk, A., & Jamal, A. (2023). A unique business model for microfinance institution: the case of Assadaqaat Community Finance (ACF). Cogent Business and Management, 10(1). https://doi.org/10.1080/23311975.2022.2135202
Hirsch, J. E. (2005). An index to quantify an individual’s scientific research output. Proceedings of the National Academy of Sciences of the United States of America, 102(46), 16569–16572. https://doi.org/10.1073/pnas.0507655102
Hoque, N. (2023). Promoting business zakah as a product of Islamic finance to fund social causes for the well-being of the underprivileged: evidence from Bangladesh. Journal of Islamic Marketing. https://doi.org/10.1108/JIMA-10-2021-0337
Hunjra, A. I., Arunachalam, M., & Hanif, M. (2024). The Role of Islamic Social Finance in Poverty Eradication (pp. 26–39). Taylor and Francis. https://doi.org/10.4324/9781003366751-3
Ishom, M., Muttaqin, E. Z., Atikah, I., Ghazali, N. M., & Rohmawati, C. (2025). Cash Waqf in the Halal Blue Economy Sector: A Comparative Study of Indonesia and Malaysia. Mazahib Jurnal Pemikiran Hukum Islam, 24(1), 156–181. https://doi.org/10.21093/mj.v24i1.10035
Kahf, M. (2004). Islamic economics: what went wrong. Islamic Development Bank Roundtable on Islamic Economics: Current State of Knowledge and Development of the Discipline, Jeddah, May 26- 27.
Kashi, A., Amor, A., Al-Hashemi, A., & Issa, B. M. (2025). TRENDS, EVOLUTION, AND FUTURE RESEARCH DIRECTIONS IN WAQF: A BIBLIOMETRIC ANALYSIS THROUGH COMPLEX NETWORKS. Journal of Islamic Monetary Economics and Finance, 11(2), 351–384. https://doi.org/10.21098/jimf.v11i2.2317
Kennet, M., & Heinemann, V. (2006). Green Economics: Setting the scene. Aims, context, and philosophical underpinning of the distinctive new solutions offered by Green Economics. International Journal of Green Economics, 1(1–2), 68–102. https://doi.org/10.1504/IJGE.2006.009338
Ma, Y., & Sukmana, R. (2025). Takeaways from Islamic social finance and sustainable development goals discourse: a review and bibliometric analysis of future directions for Zakat, Waqf, and Islamic microfinance. Journal of Islamic Accounting and Business Research. https://doi.org/10.1108/JIABR-06-2024-0227
Maruf, A. O. (2025). Comparative Study of Islamic and Secular Economic Law in Nigeria: Implications for Policy Making. Jurnal Ilmiah Mizani, 12(1), 33–49. https://doi.org/10.29300/mzn.v12i1.5340
Mawardi, I., Widiastuti, T., Al Mustofa, M. U., & Hakimi, F. (2023). Analyzing the impact of productive zakat on the welfare of zakat recipients. Journal of Islamic Accounting and Business Research, 14(1), 118–140. https://doi.org/10.1108/JIABR-05-2021-0145
Mohamed, A., & Akande, A. E. (2025). Waqf-led buildings and green infrastructure's role in environmental sustainability: understanding critical gaps in the current research landscape. Management and Sustainability. https://doi.org/10.1108/MSAR-09-2024-0152
Nashirudin, M., Razali, R., & Ulfah, A. K. (2025). Modernizing Zakat and Waqf Management in Indonesia: A Legal And Governance Perspective. Mazahib Jurnal Pemikiran Hukum Islam, 24(1), 198–220. https://doi.org/10.21093/mj.v24i1.9419
Othman, A. H. A., & Haron, R. (2024). Shari’ah instruments that facilitate Islamic green finance (pp. 144–157). Taylor and Francis. https://doi.org/10.4324/9781032672946-20
Pitaloka, E., Purwanto, E., Suyoto, Y. T., Dwianika, A., & Anggreyani, D. (2024). Bibliometrics Analysis of Green Financing Research. International Journal of Sustainable Development and Planning, 19(3), 853–865. https://doi.org/10.18280/ijsdp.190305
Rahim, R., Rathore, H. S., Rabbani, M. R., & Alam, M. N. (2024). Maqasid Al-Shariah and Green Finance: A Theoretical Framework on Islamic Finance with Sustainable Development Goals for a Greener Future. 255–261. https://doi.org/10.1109/SIBF63788.2024.10883847
Rahmawati, Y., Amri, M., Daroji, C., Wahyuni, A., & Rahayu, E. (2025). Assessing The Effectiveness of Sharia-Based Sustainability Reporting Model in Enhancing Islamic Social Finance for Sustainable Development and Planning of Village Assets: A Case Study of Sumberdodol Village. International Journal of Accounting and Economics Studies, 12(4), 374–385. https://doi.org/10.14419/gc076q42
Raimi, L., & Bamiro, N. B. (2025). Role of Islamic sustainable finance in promoting green entrepreneurship and sustainable development goals in emerging Muslim economies. International Journal of Social Economics. https://doi.org/10.1108/IJSE-05-2024-0408
Timur, Y. P., Ramdani, R., Ramis, I., Rohmaningtyas, N., Munir, M. B. B., & Kassim, S. F. B. M. (2025). How far does cash waqf research by Indonesian researchers support the SDGs?: A bibliometric analysis and systematic literature reviews. Multidisciplinary Reviews, 8(12). https://doi.org/10.31893/multirev.2025387
Ushie, A. M., Jiang, X., Ali, A., Nwoba, A. C., & Hossain, S. F. A. (2023). Green innovation in emerging economies: The role of managerial ties and market learning. Business Strategy and the Environment. https://doi.org/10.1002/bse.3313
Zhou, Z., Gao, Y., Dong, X., Wang, X.-C., Zhang, Y., Xiao, X., Xiao, R., & Ye, Q. (2024). Ecosystem services linked to sustainability assessment of poverty alleviation based on emergy analysis: Case study in the Tibetan area of Northwest Sichuan Plateau, China. Ecological Indicators, 167. https://doi.org/10.1016/j.ecolind.2024.112628
Downloads
Published
Issue
Section
License
Copyright (c) 2025 Nur Syamsu, Wardatul Ulum, Jeris, Y.A Agustina, A. Haekal, Fatma, Syaifullah
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
