Developing an integrated model of Islamic social finance: toward an effective governance framework

Tika Widiastuti, Sri Ningsih, Ari Prasetyo, Imron Mawardi, Sri Herianingrum, Anidah Robani, Muhammad Ubaidillah Al Mustofa, Aufar Fadlul Hady

Research output: Contribution to journalArticlepeer-review

1 Citation (Scopus)

Abstract

This study proposed an integrated model of Islamic Social Finance (ISF) to accelerate the transformation of the poor toward prosperity. This is a qualitative and quantitative approach using grounded theory and the Average Weighted Index (AWI). The integration model of Islamic social finance is implemented through 4 ER (Economic Rescue, Economic Recovery, Economic Reinforcement, and Economic Resilience) by integrating Islamic social finance instruments in a joint project scheme. The additional finding of the empirical investigation shows that integrated Islamic social finance is 12% more effective in enriching the poor than the non-integrated program. This study emphasizes the significance of integrating Islamic social finance in accelerating the well-being of the poor community.

Original languageEnglish
Article numbere10383
JournalHeliyon
Volume8
Issue number9
DOIs
Publication statusPublished - Sep 2022

Keywords

  • Effective governance
  • Integration
  • Islamic social finance
  • Transformation
  • Well being

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